Apartment finding website RENTCafé used U.S. Census statistics to conduct a study of the 100 largest cities in the country, comparing median incomes to rent figures to examine the most affordable U.S. cities to call home. Based on their results, three north Texas cities – Plano, Irving, and Garland – fall among the top 15 best places for renters, with tenants retaining on average up to $43,000 after all bills. Dallas, El Paso, Austin, and San Antonio also deliver respectable income to rental price ratios. Discussing ATTOM Data Solutions’ 2017 Rental Affordability Report, Marcus Hiles concluded that renting is already more cost efficient than owning a house in Dallas/Fort Worth, and is expected to continue throughout 2017 as mortgage rates and home prices continue to spike. Rounding out Texas’ placings in the top 50 were Houston, Corpus Christi, and Fort Worth, where residents spent slightly over 30 percent of their income per month on housing.
Mortgage rates had a slight upward movement during 2016 with a big change happening at the end of the year. This trend influenced the price of real estate properties. Marcus Hiles suggests that home prices in Dallas-Fort worth area had the third highest increase in the whole country. Some of the buyers are able to support that kind of change but many people are struggling. Marcus Hiles offers a favorable solution with his firm Western Rim Property Services. He claims that changes in price trends won’t affect the luxurious lifestyle and affordable prices his company has to offer. Find out more on: http://markets.financialcontent.com/startribune/news/read/33692967/Marcus_Hiles_
Famous Texas designer and financial specialist Marcus Hiles has acumen of predicting real estate market trends. Hiles began his distinguished career making reasonable projects that offered plush amenities. To date, his companies oversee and have more than 15,000 townhomes and apartments all over Texas. His vision for bringing affordable luxury to the common people of Texan changed the Dallas property scene for the better. By and by, Hiles is taking his insight into the property landscape and is focusing on the locales slated to grow exponentially – Woodlands and coastal regions of Houston.
As rental demand reaches an all-time high, property developer Marcus Hiles, Chairman and CEO of Western Rim Property Services, expands his investment in the Texas housing markets of Dallas, Houston, Austin, and San Antonio. Current market research from HomeUnion, a real estate investment company, analyzed the most expensive markets in the country for SFR, or single-family rental. Dallas saw the second highest SFR rent growth in the U.S. with an average year-over-year increase of 5.6%. Austin and San Antonio were on the list as well, seeing 2.8% and 2.4% increases, respectively.
As of December 17th, 2016, Texas has added 210,800 new jobs over the course of the year, driven in large part by a spike in oil prices and the revival of the energy sector. Marcus Hiles, the vibrant CEO of Dallas real estate development company Western Rim Property Services and, with over 10,000 rental units in existence and an additional 5,000 being built, one of the state’s top job creators, recently discussed the impressive growth of the Texas economy, and the state’s return as a national leader of business, hospitality and more importantly, energy.
George Washington Carver famously noted that “education is the key to unlock the golden door of freedom.” Dallas-based real estate investor and CEO of Western Rim, Marcus Hiles believes these sentiments, agreeing that education is truly the foundation for one’s success across all aspects of life. Hiles strongly encourages suburban living for families seeking the best educational opportunities available. Each year, suburban schools continue to outpace urban schools in regards to both test scores and graduation rates. A study undergone by America’s Promise and referenced by the New York Times documented that “the average high school graduation rate in the nation’s 50 largest cities was 53 percent, compared with 71 percent in the suburbs.”
Marcus Hiles takes his company’s carbon footprint into consideration with every project they take on. He believes their tree planting efforts will have a significant impact on the environment. “Trees and vegetation play a key role in every Western Rim development,” Hiles notes. “We give our renters the lowest housing density with the greatest amount of green spaces. This strategy extends beyond improving air quality and lowering greenhouse gas emissions. These plants can also minimize pollutants in storm water and reduce overall neighborhood noise. One healthy tree is equal to 10 standard room-sized air conditioners running up to 20 hours a day. Our trees provide much needed shade from the Texas heat and can help our renters reduce cooling needs by up to 30%.”
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Sometimes, bigger is better, particularly when it comes to living space. The growing popularity and necessity of urban life subsequently leads to a decrease in square footage for the average renter– which is what makes Marcus Hiles’ Western Rim spacious properties and living arrangements so incredibly attractive. Each and every home is thoughtfully crafted with the modern tenant’s need for adequate living space in mind, resulting in an oasis to come home to after returning from a bustling crowded world.
Marcus Hiles’ Dallas News featured companies, Western Rim Property Services and its affiliate Newport Classic Homes, have developed and managed more than 15,000 apartment homes throughout Texas. Founding Chairman and CEO Hiles created his two firms with the goal of providing affordable luxury rental communities that host highly desirable, exclusive amenities and enrich the lifestyles of both families and young professionals.
With an unprecedented boost in the amount of corporate relocations to Dallas, and rising numbers in both employment and the newest generation of homebuyers, costs in the city’s housing market are climbing to new heights. Marcus Hiles Dallas news staple and renowned real estate investor has projected many of the recent changes as they have occurred, from a wave of multi-million-dollar skyscraper acquisitions downtwon to a shortage of homes for sale throughout the metro area. As one of the state’s most respected community developers for nearly thirty years, Hiles’ wealth of experience has given him a thorough understanding of current trends. With myriad factors driving up prices, he notes the most important factors impacting the future of the area.