In the next few years, the majority of millennials plan to stop renting and start owning — and Texas is leading the charge.
A new report from Apartment List analyzed responses from millennials in its first-ever Renter Confidence Survey to determine their future homeownership plans. According to the survey, 78 percent of Texas millennials plan to purchase a home, making the state the No. 14 place in America with millennials that intend to buy. In Dallas-Fort Worth, 77 percent have homeownership in their sights, landing it at No. 12 in the list of cities countrywide.
Millennials are starting the trend in No. 2 Austin, where a whopping 82 percent plan to buy and zero percent want to continue renting.
Other Texas metro areas rank high on the list of places with millennials who plan to buy. Houston ranks No. 17 (75 percent) and San Antonio ranks No. 19 (74 percent).
Nationwide, 74 percent of millennials expect to buy a home. Fifty-three percent of those surveyed expect to buy after 2018. However, older, married millennials expect to make the move within the next three years, reports Apartment List.
Cincinnati, where 85 percent of millennials plan to buy, takes the top spot on the list. Denver (No. 3); Atlanta (No. 4); and Washington, D.C. (No. 5) round out the top five.
The Rollin R Ranch in North Texas is on the market for $21.5 million.
A North Texas ranch with ties to the White House is on the market for $21.5 million.
Dallas oil and gas executive Tony Roosevelt, the grandson of President Franklin Roosevelt, is selling his 1,300-acre Rolling R Ranch in Cooke County, which is along the Texas-Oklahoma border. Blake Hortenstine, Cash McWhorter, and Jonathan James, all of Hortenstine Ranch Co., have the listing.
Roosevelt bought the ranch in 1999. He and his wife, JoAnne Roosevelt, had used the property as a weekend retreat, The Wall Street Journal reported.
The ranch, about 75 miles north of Dallas-Fort Worth, features rolling terrain dotted with hardwood forests, native grasslands, and mature pecan groves. The property sits along more than 2.5 miles of Clear Creek.
“For Tony Roosevelt, Rolling R Ranch represented the realization of a lifelong vision. His appreciation for ranching began during his youth at his family’s original Rolling R Ranch in Colorado,” Hortenstine Ranch Co. says in a news release.
“Those experiences shaped his belief that land should be experienced, cared for and shared across generations. Rather than recreating the Colorado property, he spent decades thoughtfully assembling adjoining acreage in Cooke County and shaping a ranch uniquely suited to the North Texas landscape.”
Over time, the Roosevelts’ children and grandchildren would go horseback riding, hiking, camping, or fishing when they visited Rolling R. The property lies near the historic Chisholm and Butterfield Overland National Historic trails.
“What makes Rolling R Ranch truly special isn’t simply its size or location,” Blake Hortenstine says. “It’s the intentional way it was created. Every trail, overlook, and improvement reflects decades of thoughtful stewardship. Opportunities to acquire a property with this level of natural beauty, privacy and history are exceptionally rare.”
According to the listing firm, Tony Roosevelt delayed construction of the ranch’s hilltop lodge until he bought enough nearby property to protect unobstructed views.
Improvements at the ranch included establishing a seven-mile trail system, installing owl boxes and bluebird houses, and setting up wildlife sanctuary areas. Deer, turkey, waterfowl, native birds, wild hogs, coyotes, bobcats, and other wildlife populate the ranch.
While the outdoor amenities and wildlife are impressive, so are the buildings at the ranch.
The 3,716-square-foot main house, built in 2014, offers four bedrooms and four-and-a-half bathrooms. The open-concept great room features a stone fireplace with stone flooring that extends to the main living areas.
The kitchen includes granite countertops, custom cabinetry, a large center island, and a butler’s pantry. A wet bar is next to the main living area. Just off the kitchen is a screened-in porch overlooking the landscaped and irrigated grounds, along with a swimming pool and hot tub.
A 2,800-square-foot barndominium does double duty as the ranch’s headquarters and lodging for visitors.
The barndominium’s upper level includes four bedrooms, two bathrooms, a full kitchen, an open living area, and a screened-in balcony overlooking the surrounding wildlife sanctuary. The lower level features a climate-controlled workshop with a full bathroom. Adjacent to the workshop is a four-stall horse barn, one of four barns on the property.
“Whether envisioned as a legacy family retreat, a premier recreational ranch, or a long-term investment in one of North Texas’ most desirable ranching regions, Rolling R Ranch stands among the finest offerings to come to market in recent years and represents an opportunity that discerning buyers may not see again for decades,” Blake Hortenstine says.
