Theamount of renters in the U.S. is growing at a pace of more than a half million annually, and showing no signs of abating. Western Rim Property Service Chairman and CEO Marcus Hiles projected the increased demand for upscale rentals, which is why his Estates brand is attracting more and more renters in the Lone Star State. “Renters are eager to embrace luxury living at affordable prices,” Hiles explains. “Our five Estates communities offer signature amenities designed to appeal to singles, couples, and families who have chosen the rental lifestyle.” Located north of Dallas in Aubrey, The Estates 3Eighty offers one- to four-bedroom apartment floor plans that feature soaring ceilings, expansive windows, contemporary granite countertops, and large living areas. Residents can be found at the dedicated Starbucks Wi-Fi café, in the private off-leash dog park, or working at one of the iMacs or PCs in the business center. “Our intention was to create the best of both worlds,” Marcus Hiles notes, “an exclusive lakeside escape that’s a stone’s throw away from vibrant nightlife and a thriving arts community.”
Major changes in the real estate market are frequently associated with times of population growth and economic prosperity at the state and municipal level. Upscale rental demand expanded across the state in 2015, and Marcus Hiles points to recent data from the Department of Labor documenting Dallas’ labor force growing to over 3.75 million, with one of the lowest unemployment rates in the country — finishing 2016 at 3.5%. Over 69,000 new apartments were developed across Texas in 2016, primarily in the four biggest metro areas.