MCKINNEY, Texas — Four North Texas cities have the best real estate markets in the country, according to a new study from WalletHub.
McKinney and Frisco took the number one and number two spots on the list. Denton and Allen were ranked eight and nine on the overall list but took first and second place on the list of cities with less than 150,000 residents.
WalletHub determined its ranking by comparing 300 cities based on their real estate market and affordability. The researchers weighed factors such as home value forecast, median days homes sit on the market, foreclosure rate, housing affordability and growth.
Texas cities took the most spots in WalletHub's top 10, with four. North Carolina had the second-most cities in the top 10, with three.
McKinney was chosen as the best real estate market in the country mostly because of its recent growth, according to WalletHub's report. The North Texas suburb has the second-highest share of houses built between 2010 and 2021, at 35%. That means new buyers have plenty of options to purchase low-maintenance homes, the article states.
"There are also plenty more new housing options coming, as McKinney has the highest number of building permits per capita," the article states.
While McKinney is certainly not an inexpensive housing market, the median home price there is around 353% of the median income – it is cheaper than over half of the other cities considered in the study – according to WalletHub.
Frisco took the second spot because of the proportion of new homes, relative affordability and job growth, according to WalletHub. Frisco had the highest percentage of homes built between 2010 and 2021: 42%.
To inform the rankings, WalletHub used data from the U.S. Census Bureau, Bureau of Labor Statistics, Council for Community and Economic Research, Zillow, TransUnion, Chmura Economics & Analytics, The National Association of Realtors.
