Dallas isn’t known for its commonalities with New York and Los Angeles, beyond ranking among the ten largest cities in the U.S. Yet, Texas real estate developer Marcus Hiles points out, “When you dig a little deeper, it turns out that all three locales have more renters than homeowners.” In fact, 55.9 percent of Dallas households live in rental communities. Across the U.S. Americans are increasingly choosing to rent instead of home ownership, with the population of renters expected to grow by at least 500,000 each year through 2023. Contrary to common wisdom, homeowners’ housing expenditures far exceed that paid by renters. The annual cost of rent payments may outpace total mortgage payments for the year, but buyers are saddled with maintenance expenses and higher utility payments – making the rental lifestyle even more appealing.