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    Home Sweet Home

    The 5 must-haves Texas millennials look for when buying a home

    CultureMap Create
    Sep 26, 2018 | 12:10 pm

    What do millennials want? It's a hot-button question, especially when it comes to real estate. Young professionals who are looking to buy are choosy with their must-haves, and it's been up to architects and developers to try to figure out what's highest on their lists.

    Anderson Canyon, LLC may have cracked the code. The small architectural design firm specializes in unique projects throughout Texas and the southern U.S., ranging from high-end residential to multi-family and mixed-use developments, as well as retail, commercial, and professional office-complex projects. The team has been paying close attention to what younger homeowners want, making note of where the trends are headed.

    Need a cheat sheet? Here are the five most important takeaways from the firm.

    1. Clean and modern
    Gone are the days of fussy designs and decorative elements. Today's homeowner is seeking out clean lines with a modern influence, and — perhaps most importantly — minimal architectural embellishments.

    2. Community rules
    The idea of a community within a community is tops, especially when a development is designed to feel like a haven. Bonus points for being close to a bustling downtown.

    3. Options are key
    If a community is built properly, then residents won't have to leave when their needs change. Building various types of units within a townhome development not only encourages people with different lifestyles to become neighbors, but it gives owners options to move from one residence to another as they become upwardly mobile.

    4. Entertaining al fresco
    What's a can't-miss idea? Backyards and entertaining spaces that blend the indoors with the outside. Patios, pools, and roof decks are all high on a millennial's wish list.

    5. Greet the outdoors
    The idea of community also applies to the great outdoors. Homeowners want spaces to gather outside their homes too, whether that means welcoming green spaces or fire pit lounges. So it's wise to partner with landscape architects for a cohesive vision that satisfies not just the architect's and builder's desires, but those of their young homeowners as well. According to Anderson Canyon's owner and president, Tom O'Leary, "We generally define success as creating spaces that are open and usable, while incorporating as much indoor-outdoor potential as possible."

    Two contemporary single-family custom homes under development by Preston Building Partners are geared toward backyard/outdoor entertainment.

    A contemporary single-family custom home under development by Preston Building Partners
      
    Photo courtesy of Anderson Canyon
    Two contemporary single-family custom homes under development by Preston Building Partners are geared toward backyard/outdoor entertainment.
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    Rent report

    Dallas boasts 2nd highest spike in millionaire-renters nationwide

    John Egan
    Jun 5, 2025 | 4:30 pm
    Luxury apartment
    Photo by Francesca Tosolini on Unsplash
    More millionaire renters means more luxury apartments.

    Sure, plenty of Dallas millionaires own swanky homes in the Park Cities. But in recent years, Dallas has seen a huge spike in the number of millionaires opting to rent rather than own a place to live.

    A new report from apartment search website RentCafe ranks the Dallas metro area as the second fastest-growing U.S. market for millionaire renters from 2019 to 2023.

    The number of millionaire renter households in Dallas-Fort Worth soared more than 1,200 percent — from just 14 in 2019 to 185 in 2023, according to the report.

    Looking at DFW's millionaire-renter data another way, the region ranked 14th for the sheer number of households (185) occupied by millionaire renters in 2023, the report says.

    “Many of today’s high-income renters live in metro areas … where the abundance of apartments as well as sky-high costs of homeownership make renting the more practical and cost-effective option,” RentCafe explains.

    The report largely attributes a nationwide 203-percent bump in millionaire-renter households to a 60-percent spike in the number of millionaire renters among millennials from 2019 to 2023.

    Still, in DFW, the number of millionaire homeowners far outweighs the number of millionaire renters. The report tallied 3,133 local millionaire-owner households in 2023, earning it 11th place on the list of hotspots for millionaire owners.

    RentCafe based its report on data from the Integrated Public Use Microdata Series (IPUMS) website.

    Elsewhere in Texas
    Dallas was bested only by Houston, which ranked No. 1 nationwide for the biggest spike in millionaire renters.

    The number of Houston millionaire renters swelled from just seven in 2019 to 179 in 2023, according to the report. Houston’s growth rate for that time period — nearly 2,500 percent — put it at the top of the rankings. Houston ranked 15th for the number of millionaire-renter households (179) in 2023.

    However, Houston landed behind Dallas (No. 12) in the ranking of the number of hotspots for millionaire homeowners (3,050).

    The Austin metro area landed at No. 19 for growth in the number of millionaire renters. That figure climbed from 90 in 2019 to 207 in 2023, or 130 percent, the report shows. Austin ranked 12th for the number of millionaire-renter households in 2023.

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