The city which ranked the highest in Texas is Austin, also noted by Forbes as the second best metro in America to invest in rental properties. The other cities placing on the list, from top to bottom, were Fort Worth, Corpus Christi, Houston, Arlington, Dallas, and San Antonio. Marcus Hiles discussed that the Dallas/Fort Worth metro area continues to maintain one of the strongest rental property markets in the country, with three cities within the region being included in the list. Citing a recent report that predicted the region’s real estate prices – already averaging $233,000 – to rise another 31 percent by 2020, Hiles stated that renting has simply become the more logical housing option in this region. Furthermore, the trend of developers such as Western Rim shifting their focus from traditional, cookie cutter apartment complexes to building spacious single-family communities offering luxurious, amenities and lifestyle benefits is raising appeal to a resurging rental scene.
The rising trend of expansion out of the more concentrated metropolises, is expected to continue as the benefits of newer bedroom communities are increasing and evolving. Marcus Hiles anticipates that suburbs will outpace cities in growth for the foreseeable future as the drive for affordable, lifestyle oriented residences remains high in demand. This change in demographics can be attributed to the differing ways people are choosing to work and live.
The labor involved in owning a home is virtually non-existent when residing in an apartment managed by Western Rim Property Services. Each complex provides professional landscaping and preventative maintenance. Apartment living also offers flexibility to occupants, with various lease lengths and a wide array of convenient building locations to choose from. Forbes states that apartment markets are booming for young millennial families and professionals, “as their preferred lifestyle and financial situation combine to make renting more attractive than owning.”
Renowned Texas developer and investor Marcus Hiles has a keen ability for predicting market trends. Hiles began his distinguished career developing affordable properties that offered upscale amenities; to date his companies manage and own over 15,000 townhomes and apartments across Texas. His vision for offering luxury homes to working class Texans revolutionized the Dallas real estate landscape. Now, Hiles is taking his property expertise and focusing on the areas poised for exponential growth – Woodlands and coastal regions of Houston.
Since the founding of Hiles’ Western Rim Property Services in 1990, over 15,000 properties and several branches have grown from his original organization over the years, with the driving force behind it all being a commitment to change lives for the better. Marcus Hiles set off by developing properties boasting amenities that elevated lifestyles but remained affordable. His successes have stemmed growth and development enriching both the lives of his properties’ residents and rewarding Hiles for his excellent leadership, providing elegant, comfortable, desirable options for the housing market. Intent on giving back to the communities that have supported his prosperity, Hiles has returned the favor through more than $2.5 million in K-12 and college scholarships, and the donation of thousands of school backpacks filled with supplies, all in the name of education. Additionally, he has gifted meat to local food banks, and provided funds to build three churches, boosting the spirit of the communities he has so strategically selected.