Rice Military is located west of Downtown Houston and it’s bordering to Memorial, Montrose, River Oaks and is right in the heart of the Inner Loop. Rice Military is a neighborhood with over 2,000 homes. The original Rice Military houses consisted of small bungalow houses and shotgun houses, but currently they have varies housing styles, such as single-family houses, two- and three-story townhouses and condominiums. A lot of young professionals started living in Rice Military to be in proximity to restaurants, theaters and Memorial Park. In 2003 saw a boom in development of new construction homes with homes between $300,000 and $1,000,000 and it was around that time that Rice was becoming an urban center. Rice Military also had one of the best appreciation rates in Houston over the last 10 years with 33\%. Rice Military also has numerous parks, such as Memorial Park, Houston Arboretum & Nature Center, Discovery Green and Market Square Park. They include biking trails, picnic sites and jogging trails. It is also close to shopping center Memorial City Mall in the Memorial district. A famous attraction and visualization point in Rice Military is the Beer Can house.