At first glance, there isn’t much in common between Dallas and New York or Los Angeles, beyond ranking among the ten largest cities in the country. Yet, Texas real estate developer Marcus Hiles notes, “When you dig a little deeper, it turns out that all three locales have more renters than homeowners.” 55.9 percent of Dallas households currently live in rental housing. Around the country, citizens are increasingly choosing tenancy over home ownership, and the population of tenants is expected to grow by at least a half million each year through 2023. Contrary to common wisdom, homeowners’ housing expenditures far exceed that paid by renters. While the annual cost of rent may outpace total mortgage costs for the year, buyers are saddled with maintenance expenses and higher utility payments – making the rental lifestyle more appealing to many.