Hiles Gives Advice To Maximize Rental Dollar
At first glance, Dallas doesn’t appear to have much in common with New York and Los Angeles except for ranking among the ten largest cities in the U.S. But looking deeper, notes Texas real estate developer Marcus Hiles, “It turns out that all three locales have more renters than homeowners.” These days, 55.9 percent of Dallas households live in rental housing. Around the country, Americans are increasingly choosing tenancy over home ownership, with the population of renters expected to grow by at least a half million per year through 2023. Contrary to common belief, homeowners’ housing expenditures far exceed that paid by renters. Even though the annual cost of rent may outpace total house payments for the year, homeowners are saddled with maintenance expenses and higher utility payments – making the rental lifestyle even more attractive.