According to a Harvard University study, a variety of factors have resulted in this shift on a national level. Changes in the property and financial sectors have caused over 43 million families and individuals to elect to rent — a record-shattering increase of approximately 9 million over the last ten years. Social trends may account for part of this increase in demand, while the latest U.S. Census illustrates a high percentage of the population of Dallas are in their twenties. Millennials are statistically likely to marry and have children later in life, notes Marcus Hiles, and unmarried individuals as well as those making less than $25,000 per year have seen the biggest movement towards renting a home over the last decade.
Marcus Hiles Notes Lifestyle Trends Of Texas Millennials