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Local Topic Surge in Renters in Frisco

Local Topic Surge in Renters in Frisco

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by: Jjj 1 Site Admin  OP 
~ 2 mos, 15 days ago    
Surge in Renters in Frisco
 
A newly posted analysis of census data shows that the number of renters in suburbs has been surging in the Dallas metro area, and in particular, in Frisco.
 
In an analysis of 104 suburbs nationwide, Frisco topped the list, by a long shot, with a 10,213 net growth in number of renters over the past 5 years.
 
Among metro areas nationwide, Dallas also topped the fastest growing renters among those in the suburbs versus urban areas.
 
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funacct Elite Status Member 3 App
~ 2 mos, 15 days ago    
@Jjj: maybe because of the surge in apartments being built.
xAyeikax reacted
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KiNg Elite Status Member 3
~ 2 mos, 15 days ago    
@funacct :
My thought also. I watched the many many apt. blocks built along Cotton Gin near the library and behind the City Hall. The one next to the fire station on Legacy south of H-E-B and the big ones along Ohio near Gaylord were built 4 or 5 years ago.
xAyeikax reacted
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funacct Elite Status Member 3 App
~ 2 mos, 15 days ago    
@KiNg: I think the apt near city hall, the mall, HEB and big main streets are placed. They are no place that I think housing developments would do well. I'm also greatful that they are nice looking. And I'm not sure what else would happen to that land.
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Pecan7 Elite Status Member 1
~ 2 mos, 5 days ago    
@funacct @KiNg :
I wonder how many apartments are 'well' Senior oriented (over 55/65, independent living).
I am hearing of retired populations being unable to keep a home due to finances and/or need to downsize so that there is less upkeep and physical care need for living space.
Yet, the 'real' cost of these apartment/condos is very high when you add the monthly required amenity, insurance, parking, ….fees and some more affordable ones are so small (square feet wise) that they might cause a bit of claustrophobia. Not kidding.
Finally, annual increases in renter fees must be considered. Retirees might get a small COLA that increases their retirement income, but not enough to cover the annual rent increase,
This is my online review of Frisco/Plano/ McKinney locations.
It looks like there are groups that people can call for a guide about this though.
 
Of course everything is relative. If more jobs are being made available with higher wages, especially in management and leadership, and individuals are able to build equity in homes and maintain savings, then they may be able to afford to retire in these expensive senior living locations.
Some seniors opt to live with families and use their retirement money to Supplement family income or their own assisted living or healthcare needs. Medicare and social security generally do not cover domestic care.
Tamara reacted
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funacct Elite Status Member 3 App
~ 2 mos, 3 days ago    
@Pecan7: so hubby and I are getting to the retirement conversation. With me being the planner I've mentioned how much longer do we plan to stay in our house (prob 10-15 years). Then at that time downsizing. I did mention that if for some reason he passes before me I'd probably move to a rental. Not sure if it would be a house or appt. He asked why. I said because even though I how about maintenance and up keep on a house I will not want to deal with it. Calling a landlord is so much easier then getting scammed because I'll be a single old lady.
 
So like you I peaked at one of these 55+ places. What an eye opener. They charge you for everything. I'd just want a simple 2 bedroom appt that gives me neighbors my age and not 20 year olds. I'd bet I could rent a house cheaper.
 
All I have to say is it makes you think and not a bad idea to be a planner.
Jjj reacted
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Tamara Elite Status Member 3 App
~ 2 mos, 0 days ago    
@Jjj: Growth is great fo many obvious reasons. The surge in renters is alarming though. I get it I am a renter too. My sweet neighbor (there are more than one)?on the other hand is elderly and on a fixed income. This surge is jeopardizing quality of living for some of the Texas natives though. In keeping up with taxes and other expenses, the rent renewal has almost put her out of here. I just don't quite get it. One can prepare for retirement unknowingly heading into a surge of state transients coming from much wealthier areas into people's homeland and literally pushing them out on the street. I am heartbroken and disgusted knowing those seniors and seeing them at risk of being pushed out of their home. (Even in Frisco).
Pecan7 reacted
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