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National Rental Prices – Where the Opportunity Is for Today’s Renters

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

A lot of things impact rent: building size, amenities, housing availability, proximity to central areas and most of all location. When looking nationally the rent variations from city to city can be extreme – especially when comparing historically high-priced areas with that of relatively new up and coming areas. It comes down to the area’s demand – rent has no cap and will go as high as the market allows.

That demand and subsequent price hike can become inflated if a location, mainly metro and city areas become overpopulated. Texas-based property developer Marcus Hiles shares his experience of market inflation by adding, “Take a place like New York City, the introduction of new housing is much more rare than a place like Austin, Texas. NYC’s available space for new property development is scarce and comes at a premium most average renters can’t afford nor makes for a smart decision for investors and developers.”

marcus hiles

A new report by online authority in the rental industry, Zumper highlights this push-pull factor that continues to fluctuate the median rental rates nationally.

According to their data, today’s most expensive rental markets are those you would expect: San Francisco, NYC, San Jose, LA and Boston.

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A Model for Future Development – Houston Weathered One of the Nation’s Worst Storms and Is Rising Above

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

Before Harvey, storm destruction was not uncommon but what this category 4 hurricane did do that others could not is influence the cities rebuild and future development on a massive scale.

Historically, the city of Houston has had a relatively unregulated approach to expansion that has acted similarly to the build out methods of other top Texas cities such as Dallas. With an increasing need for housing, commercial buildings and overall citywide infrastructure, the focus had most often been centered on quick turnaround time rather than longevity and ability to sustain Houston’s fluctuating weather patterns.

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Time Recognizes Texas as the Nation’s Best Place to Live

Texas once again leads the ranking for today’s best land of opportunity in both residential and commercial arenas. Frisco, Texas – a once sleepy town of 6,500 residents just over two and a half decades ago, the city now boasts 180k+ residents and has been named the single best place to live in America today.

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In MONEY’s report highlighting the nation’s top 50 cities live in, Time, Inc. and Realtor.com compiled data from over 500 locations across diverse geographical to come up with today’s city leaders. Combining data on growth, affordability and quality of living, analysis was conducted on each city’s economic health, cost of living, diversity, public education, income, crime, ease of living, and amenities. Scoring some of the report’s highest marks on a state-level were those of Texas, which comes as no surprise as the state’s residents and even the national economy has seen and experienced buzz-worthy growth on a top tier scale

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The State of Houston’s Rebound – How Smart-Growth is Helping the City Grow Up, Not Out

Houston, Texas is a city known for the opportunity it brings to both businesses and residents in affordability, landmass and employment opportunities that attract populations from across the state, nation and globe.

Much like the build out methods taken historically in the leading Texas city of Dallas, Houston has been adding on and building out its infrastructure more widespread each year. This continuous expansion to the city and its surrounding suburb communities has created a cycle of high inventories in low-cost commercial and residential properties that is working to disperse populations and consume resources at a large scale.

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The San Antonio Rental Market Hits a High During its End of Summer Push

Thanks to growing interest from Americans and the nation’s largest ever demographic of millennials, industry changes are taking place throughout San Antonio, Texas.

Key to the build out of the area, the city’s housing market has undergone considerable new development- especially during the recent summer months of 2018. Focusing on introducing more urban city living options, new apartment communities have been popping up across the metro. Tailored to both singles and family renters, an infrastructure that attracts residents to both city and key suburban areas are being established and proposed each month. Local property developers are introducing these new projects and expanding on those existing ones to establish more footing in this growing market opportunity.

Just in the last 12 months, 25 new apartment communities have been completed, introducing over 5,000 new units for the area’s growing pool of renters. These new additions to the renter market are not going without demand despite a spike in supply. Monthly report findings from Apartmentdata.com highlights an increase in the average rent per unit and occupancy rates that are continuing to be maintained, throughout recent summer months.

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Texas Attracts More Residents with its Growing Adult Communities

Texas is a state that has been attracting new residents from different demographics and parts of the world for the past decade. With the attractive properties of the state’s top metros appealing to a wide variety of populations, it is a region growing rapidly each year as today’s generations enter new milestones.

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Between the newly growing homeowners and renters pool made up of the millennial generation entering adulthood, much of the focus on the Texasgrowth has been on this age bracket of 20-35. However, the interest of today’s second largest generation of baby boomers are also putting down roots in the state on a considerable scale.

According to a recent report by WalletHub on the Top Cities to Retire nationwide, there are more people moving to Texas than most other states when retiring. Included in the list’s top 100 cities were well known areas like San Antonio, Austin, El Paso, Dallas and Houston among other up and coming locations like Plano, Grand Prairie, Laredoand Amarillo.

This newly stimulated interest has been gaining steady popularity as the state continues to offer the best in affordable opportunities for both businesses and residents. Combined with the generational shift of millennials entering the workforce and housing market in parallel with older generations retiring and downsizing, much of the nation’s relocated populations are concentrating into Texas.

This shift has opened up new avenues for many industries as with the increase of residents and commercial operations has created a demand for more supply. One area that has adapted to this continuous growth cycle is the housing industry. With the inability to build single family housing fast enough to keep up with the pool of new residents; more scalable housing solutions are breaking ground.

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Texas Takes #1 Four Years in a Row in America’s Top States for Business

The future business scene in Texas is looking brighter than ever as the state continues to hold its place as a national leader. Growth is spreading across areas such as North Texas, Houston and San Antonio with businesses quickly expanding their operations in the state that offers some of the best in business-friendly climates and overall growth potential. Tapping into the market recently are global leaders such as Toyota, Liberty Mutual and JP Morgan who have taken advantage of the state’s increasing network of commercial properties, workforce and business resources.

Named by CNBC for the fourth consecutive year as America’s Top State for Business, Texas scored above all 50 states on overall business competitiveness. With the business hub building on its role as a national leader for the past decade, this top rank title reflects the progress Texas has made in cementing its place in the global economy.

“This national recognition comes without surprise as the lone star state has remained in the spotlight with record breaking growth throughout 2017 and 2018,” shares successful Texas entrepreneur for over three decades, Marcus Hiles. Spikes in the state’s overall population has contributed to the expanding workforce that has aiding growth in 10 out of 11 industries in Texas.
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How The Nation’s Top Suburbs are Bringing Greener Developments to the Table

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.

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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.

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Dallas A Fastest Growing City in 2018 – Leading the Nation’s Population, Job and Housing Markets

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.
Marcus Hiles - CEO of Western Rim Properties
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Industries on the Rise: The Businesses Driving Record-Breaking Commercial Opportunities in Texas

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.

Marcus Hiles - Texas entrepreneur and CEO of Western Rim Properties 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.

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