Southlake, TX, rental market

[Michael Henry]

Greeting all,

I have an opportunity in Southlake, TX, and I'm looking for insights on renter dynamics/characteristics there or other areas like it. Based on median home prices/property taxes, is it truly better to rent than buy there? Zillow rental listings are about $3500 for 3/2, 4500-5k for 4/3, and 5500 for 5/3, so ~ $1100ish per bedroom. Are Southlake renters trying to maximize house? At these price points, what difference in price forces a decision?

I'm asking these things as it will determine price we pay and renovations (updates or additions).

Appreciate any insights.