Based on U.S. Census Bureau data, rental search website RENTCafé conducted an analysis of the 100 largest cities in the nation, pitting median incomes and rent figures to list the most affordable U.S. cities for renting. According to the results, three cities in north Texas – Plano, Irving, and Garland – placed in the top 15 most affordable for renters, with tenants keeping on average as much as $43,000 after all living expenses. Dallas and El Paso, followed closely by Austin and San Antonio, provide income to rental price statistics that are impressive as well. Marcus Hiles, citing ATTOM Data Solutions’ 2017 Rental Affordability Report, concluded that in Dallas/Fort Worth, renting is consistently more cost effective than buying a house, a trend that looks to continue this year as mortgage rates and market prices continue to rise. Additional Texas cities ranking in the top 50 were Houston, Corpus Christi, and Fort Worth, where residents spending slightly over 30 percent of their income each month on rent.
Marcus Hiles is the CEO and the best predictor of market trends at Western Rim Property Services. He is well known for offering Texas residents and real estate seekers luxurious properties for affordable prices. Throughout 2016, mortgage rates have only gone up and that trend affected different Texas areas including Dallas-Fort Worth area which had the third highest rise in the US. However, this turn of events hasn’t stopped Marcus Hiles on his mission and he believes that his company will continue helping real estate seekers to find what they’re looking for. Read more on: http://finance.yahoo.com/news/marcus-hiles-home-mortgage-payments-023200676.html
Marcus Hiles, acclaimed Texas developer and investment specialist foresees real estate market trends. Hiles began his notable career journey by making available to the market budget apartments that offered rich elements. To date, his companies manage and possess more than 15,000 townhomes and apartments all over Texas. His vision for offering lavish yet reasonable homes to the working class people of Texas brought about a positive revolution in the Dallas property scene. What’s more, now, Hiles is taking his insight into the real estate market and is focusing on the locales expected to grow exponentially – Woodlands and coastal regions of Houston.
As rental demand advances to record levels, Marcus Hiles, real estate developer and CEO of Western Rim Property Services, continues to invest in the Dallas, Houston, Austin, and San Antonio housing markets. Recently, market research released by real estate investment firm HomeUnion, analyzed the most expensive markets across the U.S for single-family rental (SFR). Dallas is home to the second highest SFR rent growth in the nation with an average increase of 5.6% year-over-year. Both Austin and San Antonio also made the list, at 2.8% and 2.4% increases, respectively.
As of December 17th, 2016, the Lone Star State has added 210,800 new jobs, largely due to a rise in oil prices and the resurgence of the energy sector. Marcus Hiles, the dynamic CEO of Fort Worth real estate development firm Western Rim Property Services and, with over 10,000 properties in his portfolio and an additional 5,000 under construction, one of the state’s leading job generators, recently spoke out on the rapid growth of the Texas economy, and how the state has returned as the nation’s leader of business, hospitality, and most notably, energy.
George Washington Carver made the observation that “education is the key to unlock the golden door of freedom.” Fort Worth-based real estate developer and CEO of Western Rim, Marcus Hiles shares these sentiments, believing that education is utmost foundation of one’s success in all aspects of life. Hiles firmly believes suburban living is the best option for families in pursuit of the best educational opportunities available. Year after year, suburban districts continue to outpace the performance of urban ones, especially regarding test scores and graduation rates. A study from America’s Promise was cited by the New York Times, showing 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 considers his company’s environmental impact with each project they take on. The plantings can make a significant environmental impact, he believes. “Trees and vegetation play a key role in every Western Rim development,” Hiles says about the projects. “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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Bigger can be better, especially when it refers to living space. The increasing growth of urban living trends subsequently brings a decrease in square footage for renters in the city– which is what makes Marcus Hiles’ Western Rim communities and their spacious living quarters so incredibly attractive. Each and every apartment is carefully created with the modern renter’s need for sufficient living space in mind, resulting in an oasis to call home to in the midst of a bustlingly crowded world.
Marcus Hiles’ Dallas News highlighted businesses, Western Rim Property Services and its affiliate Newport Classic Homes, have developed and now manage over 15,000 upscale rental homes throughout Texas. Hiles, the Founding Chairman and CEO, built his two companies with the goal of creating attainable luxury rental communities that host highly desirable, exclusive lifestyle amenities that enrich the lives of his tenants, both families and young professionals.
With an unprecedented jump in the number of corporate relocations to Dallas, and rising numbers in both employment and the next generation of homeowners, costs in the city’s housing market are rising to new heights. Marcus Hiles Dallas news frequenter and expert real estate investor expected many of the recent changes as they happened, from the wave of multi-million dollar skyscraper acquisitions in the urban core to a shortage of homes for sale throughout the region. As one of Texas’s most prominent community developers for three decades running, Hiles’ wealth of experience has given him a thorough understanding of the current trends. With diverse interests driving up prices, he discusses the most important factors impacting the future of the area.