Everything is bigger in Texas, and the market for elegant living is no exception. Chairman and CEO of Western Rim Property Services Marcus Hiles says that virtually all new rental properties constructed in the state are upscale, generating unprecedented opportunities for prospective tenants to enjoy a luxurious lifestyle. “An increasing number of singles, families, empty nesters, and retirees are finding contentment through renting,” Hiles notes. “Across the U.S. the number of renters is anticipated to grow by a half million each year through 2023.”
In addition to the elevated lifestyle experience Marcus Hiles Fort Worth based company gives its residents access to nearby employment opportunities and excellent school districts. Both of these are important factors for working class Texans as they elect an upscale suburban life. Corporate relocations to outlying areas of the Lone Star state’s cities have helped create jobs, with more than 400,000 being generated over the last two years in the Dallas metroplex alone. These sweeping changes have birthed career growth throughout the suburbs, with new hires benefitting from shorter and easier commutes. These same locations where Western Rim chose to establish their lavish complexes are also regarded for the exceptional quality of their public school systems; and as research has shown, better educated cities have a higher income. A quick look at the numbers comparing college graduates in population (41 percent) and Dallas (18 percent) demonstrates an average household earning $131,291 for the former and $72,625 for the latter.
Whether you are looking to rent or buy a house, the constant dilemma is to understand if it is best to live an chic urban life or to settle in a luxurious suburban community. According to area’s top real estate agents, in any given circumstance the cost per square foot in the city is twice as much as that of an outlying district. While it is crucial to think about financial aspects of the pursuit in order to stay on budget, the price is not the only thing that matters to buyers and renters. Employment factors are more important to take into account, as analysts suggest job creation rates to be several times higher in northern counties of the Dallas-Fort Worth metropolitan area than in the city itself. With the rise in labor market, the economy of the suburbs has soared significantly, with incomes increasing by approximately 30-50 percent compared with urban areas of Dallas and Fort Worth. As the average income goes up, the value of properties in the housing market moves upwards. Higher education, good health, and safety indicators are also associated with improved affluence and property value of the Fort Worth properties.