Mortgage rates have been significantly affected during COVID, hitting near-record lows. WalletHub’s recently published study examines the best real estate markets in the United States by sampling 300 different cities across the nation. Five Texas cities were ranked in the top six results.
Frisco and Austin, Texas won top scores when it came to real estate market rankings. The findings were based on several methodological approaches such as home value forecast, ratio of rent price to sale price, vacancy rate, share of young homes, and building-permit activity.
Followed by Frisco and Austin is Gilbert, Arizona, and then McKinnney, Denton, and Allen, Texas. Denton was ranked #1 for smaller cities and Frisco for medium sized ones.
When it came to ranking by city size, Austin was placed as #1, and Fort Worth #5. Some of the main organizers and experts involved in the study include professor of real estate and finance Job Hammond, Dr. William R. Miles, and Dr. Alan Tidwell.
The study allows for Texas or anyone else looking for a place to buy a house to adapt to their income. It also provides enough information to allow people to choose not only based on income but also on the size of the city.
For more information on the United States real estate market and how Texas ranks within it, you can check out the study here.
