Marcus Hiles Notes Suburban Growth Trends In Texas

Marcus Hiles noted that while these statistics seem to show a trend of movement to urban areas, it is actually the surrounding suburbs that are experiencing the largest increases, mostly due to costly downtown housing prices. For instance, the Real Estate Center at Texas A&M University reported that the average price paid for a house in Austin’s local market area is $386,700, and predicted that number to continue to rise throughout 2017. Extreme costs of living are not only driving residents to the suburbs, but also causing them to choose renting over buying. In many Texas cities, including Houston and Dallas, renting has already been shown to be more cost effective than owning a house. As developers build more lavish rental communities complete with resort-like amenities and services, individuals will continue to find that apartments offer improved quality and convenience of life paired with greater financial freedom.

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