North Texas has one of the hottest, in-demand real estate markets, with three cities topping the list for best in the country.
Frisco, Allen, and McKinney were ranked as the top three best cities to buy a home, according to WalletHub’s “Best Real Estate Markets” survey.
The survey determined five of the top 11 real estate markets are in North Texas. Denton came in eighth, with Richardson taking the No. 10 spot and Fort Worth checking in at No. 11.
To determine the best real estate markets in the United States, WalletHub compared 300 cities of varying sizes across two key dimensions, “Real-Estate Market” and “Affordability & Economic Environment.”
Data sets were evaluated using 17 relevant metrics ranging from median home-price appreciation to job growth.
Source: WalletHub
“If you aim for long-term growth, equity, and profit with your housing purchase, you’ll need to look beyond tangible factors like square footage and style,” said Adam McCann, a financial writer for WalletHub.
In terms of Affordability & Economic Environment, North Texas once again ranked in the top spot.
Frisco received the No. 1 rank, while McKinney landed No. 3 and Allen No. 2.
Austin, however, which ranked No. 4 overall, was 46th in the Affordability & Economic Environment category.
The WalletHub survey listed Peoria, Illinois, as the worst city to buy a home. It ranked No. 300 for its Real-Estate Market and came in 236th for Affordability & Economic Environment.
While North Texas suburbs are booming, the latest data from the Case-Shiller Index illustrates the strength of the Dallas housing market relative to other major cities despite a slight deceleration in national home prices for June.
Top 10 best places to buy a home
Rank No. 1. Frisco, TX
Rank No. 2. Allen, TX
Rank No. 3. McKinney, TX
Rank No. 4. Austin, TX
Rank No. 5. Nashville, TN
Rank No. 6. Cary, NC
Rank No. 7. Gilbert, AZ
Rank No. 8. Denton, TX
Rank No. 9. Peoria, AZ
Rank No. 10. Richardson, TX
A complete list of rankings can be found here.
