Trends in recent years show growing interest in the Texas suburbs. Towns including New Braunfels (located between San Antonio and Austin), Frisco (in the Dallas/Fort Worth metro area), Georgetown (a 45 minute drive north of Austin) and Pearland (near Houston) have leapt into last year’s top ten list of the fastest-growing American cities with a population larger than 50,000. Census figures show that despite the state gaining nearly half a million new citizens in one year, with 1,200 new residents on average daily, suburban counties are seeing the biggest growth. North of Dallas, Collin Country is projected to grow by an astonishing 386 percent over the next 35 years, which will bring its population to approximately 3.8 million. Marcus Hiles has noted that many counties are growing at twice the rate of their adjacent urban cities, with Hays, Fort Bend and Kendall counties seeing a 20-23 percent increase over the last sixty months. “Expansion into these areas is a logical progression,” Hiles, of Dallas, noted. “As the total number of people looking for a place to call home increases, economists and developers expect to see the percentage of renters continue to rise as well.”
Individuals are opening to the possibility of renting as a more permanent resolution rather than temporary living. The National Multi-Housing Council states that, almost 15 percent of the population in Texas are renting instead than owning. That number is expected to grow substantially. In large metropolises, the percentage is often much higher. As Marcus Hiles states, “The American dream is now not owning a home but renting an apartment.” The goal for Hiles and his company is to advance these communities in the finest settings and close to the top schools with first-class amenities within the complex and neighboring it.