The wish list and must-haves of renters and home buyers in today’s market has drastically changed in recent years. Most seen within the nation’s top surrounding metro areas, residents are putting importance on not only their indoor living area but also their outdoor accommodations.
Two example locations are suburb areas that border two of Texas’ top cities: Austin and Dallas. Recognized as being some of the best places to live in the state, the suburbs of Allen and Riverside, Texas have been recognized as offering some of the best in balanced living, helping the area’s residents sustain healthy, active lifestyles.
The three keys to a growing area – housing, job and population increases are on the rise in Dallas and its surrounding suburbs; continuing to make it one of the fastest growing cities in 2018.
Leading the nation in population increases, Texas topped the charts as the number one state experiencing growth year over year from 2016 to 2017 in study conducted by the U.S. Census Bureau. With Dallas as the number one location in the state, it’s no wonder this city is growing in popularity for 2018.
One of the country’s largest states, Texas has been making a big impression in the economic development of present day commercial opportunities seen across the globe. Taking its place at the top in year-over-year population, job expansion and overall commercial growth; the state has been attracting residents and businesses from across the country and world over the last decade.
Appealing to out-of-state and international transplants for its low cost of living, increasing job opportunities and overall quality of living; the business community is also fueling from similar benefits the southwestern state offers.
Beginning with the accommodating business climate, big name and newly established companies are brought to the area through the nationally low taxes and regulations it provides. Also adding to its appeal are the decreased barriers to entry Texas’ vast commercial landmass enables along with the talented population it retains. “With these key factors separating the state from others in the nation for its commercial value, businesses are looking to Texas to help position them ahead of competitors and for a future of success,” shares Marcus Hiles, a leading Texas entrepreneur and CEO of the Dallas-based property firm Western Rim Properties.
The commercial industry throughout the state of Texas has seen growing interest from globally recognized organizations among the world’s leading markets. Tech and industrial sectors, hospitality, manufacturing and energy industries are among those growing their roots in the nation’s second largest state that offers some of the best in vast land mass, talented workforce, affordability and business friendly regulations.
A unique environment where a collective group of diverse companies, populations and communities can come together to create opportunities and success at scale, the state has positioned itself in a way that has attracted organizations such as AT&T, Dell and Southwest Airlines.
Fortune’s 64th annual report released late this May sees the state as owning the third largest sector nationwide for Fortune 500 Company headquarters. The businesses on this list are those leading the economy and operating at a rate that produces 2/3rds the United States GDP. With nearly $13 trillion in revenue combined, Fortune describes this elite group as the most important engine of both US and global economies.
Holding 48 of the 500 firms on Fortune’s list, it is no surprise the overall Texas economy has continued to grow steadily each year in part from these companies that are each pulling in a minimum of $5.4 billion in revenues.
“The benefits that have come to the Texas area through this level of mass business operations has also commercially impacted other areas. Small business and startup communities, business infrastructure industries such as data centers as well as the migration of out of state and international employees coming for job opportunities,” shares DFW-based entrepreneur Marcus Hiles, who has seen a growing demand in his rental properties from this commercial boom.
America has earned over $166 billion in capital investments in 2015, a ten percent spike from the prior year. With almost a third of the revenue coming from Texas, Dallas based real estate investor Marcus Hiles remarks that his state has not only displayed the possibility for sustained long-term economic growth, but has also become vital to the successes of the American economy. As Chairman and CEO of Western Rim Properties, Hiles has studied the market for more than thirty years in the endeavor of making worthwhile, planned property acquisitions. Generally, U.S. capital investment rose $16 billion from 2014; according to a report from multinational firm Ernst & Young. Texas clocked $48.3 billion in business financing, which stood first in the country, and the Gulf Coast states who are conventional leaders in the energy industry, brought the highest number of investors for the fifth year in a row. Forty percent of the funds were given to chemical manufacturing facilities, and seventy percent of those were fresh, liquefied natural gas export compounds. The Lone Star State also did very well in the financial, technology, and professional service fields, as testified by their 38,400 mobile project jobs, the top number in the nation.
Real estate developer Marcus Hiles has been creating beautiful properties all over Texas in the last three decades. His ambition of upgraded living and immense knowledge of design trends and high demand styles has led to his success in this space. The change in the real estate scenario has affected what is expected of room partitions, exteriors and even the possible purposes of homes themselves: advanced architectural developments have led to net-zero energy buildings that balance total energy consumption with the amount of renewable energy they create. Passive and active houses offer two energy conservation processes for minimizing all heating and cooling bills. Other than this interesting progress in construction methods, these positive transformations are bringing more ease, space and light into today’s living spaces and redesigning the way we live.
There are more to Dallas, New York, and Los Angeles than just being the ten largest cities in America. According to Texas property developer Marcus Hiles, the aforementioned cities have higher renting population than homeowning population. In fact, over half of Dallas household population is renting. The whole country is envisioned to have 500,000 more renters yearly through 2023 as tenancy is becoming a more popular option than home ownership. One of the common misconceptions in renting is that it has higher housing expenses compared to homeowning; however, this claim has been proven to be false. Aside from higher utility bills, buyers should also cover maintenance expenses. Although the yearly house bills may not cost as much as the annual rent cost, the drawbacks of homeowning makes the rental lifestyle a more enticing choice.
At first sight, Dallas doesn’t appear to have many populace with New York and Los Angeles beyond rating among the ten biggest cities in the U.S. Yet, notes Texas real estate developer Marcus Hiles, “When you dig a little deeper, it turns out that all three locales have more renters than homeowners.” In fact, 55.9 percent of Dallas households thrive in rental housing. Across the country, Americans are increasingly picking tenancy over home ownership, with the volume of renters anticipated to grow by at least a half million each year through 2023. Opposite to common wisdom, homeowners’ housing expenditures far exceed that paid by renters. While the annual amount of rent may leave behind total house payments for the year, buyers are caught with maintenance cost and bigger utility payments — making the rental lifestyle even more beneficial.
Esteemed Texas real estate developer Marcus Hiles has great passion for taking care of Mother Nature. “I aspire to reduce carbon footprint by making communities and nature as one,” he says. The realization of his philosophy as the head of Western Rim Property Services is highlighted at over 15,000 upper-class Texas rental townhomes and apartments. The appliances inside these rental residences are ENERGY STAR certified under the U.S. Environmental Protection Agency. Introduced in 1992 in the U.S., the ENERGY STAR program has helped Americans minimize the emissions of carbon dioxide by as much as 283.2 million metric tons. The $1650 annual cost of electric bills and $400 cost of natural gas among average Texas residents were decreased by approximately 50 percent by using energy saving appliances.
Marcus Hiles, Chairman and CEO of Western Rim Properties, keeps sophisticated design and eco-friendly amenities of mutual importance. This groundbreaking Texas real estate developer, who singlehandedly evolved the Texas real estate market with his creation of luxury apartments and townhomes, always maintains excellent standards for protecting the natural environment. With luxe rentals that are designed to incorporate the natural landscape and feature sustainably minded building practices and state-of-the-art, energy-efficient conveniences, Marcus Hiles’ Western Rim has proven that elegance can be eco-friendly.