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marcus hiles, Real Estate

Marcus Hiles Discusses High Costs Pushing Texans Towards Suburbs

Marcus Hiles explains that despite these statistics seemingly noting a trend of movement to urban areas, it is in fact the surrounding suburban towns that are experiencing massive increases, mostly due to expensive downtown housing prices. As an example, the Texas A&M University Real Estate Center reported that the average price paid for a home in Austin’s local market area is $386,700, and predicted the cost to continue rising across 2017. Extreme costs of living are not only encouraging Texans to live in the suburbs, they are causing them to opt for long-term renting. In many Texas cities, including Houston and Dallas, renting has already been shown to be more cost effective than buying a house. As developers build upmarket rental communities offering resort-like amenities and services, residents will continue to realize that rental complexes provide improved quality and enjoyment of life on top of greater financial freedom.

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