McKinney and Frisco are great places to live. Loads of people are moving in. No wonder WalletHub ranked the cities in the top two spots in the U.S. real estate market.
WalletHub released its 2023’s Best Real-Estate Markets, finding McKinney Texas is the best real estate market. The study also found the city has great affordability and economic environment, making it WalletHub’s best place to buy a house. McKinney’s final score out of 100 was 74.41. While Frisco didn’t rank quite as high with a score of 74.27 out of 100, the city came in first for affordability and economic environment and third for the real estate market.
But Frisco and McKinney were not the only cities that ranked well. Denton was fourth with a score of 71.67, faring well with both market and environment. Allen came out sixth with a total score of 69.88, ranking at 10 for the market and fifth for the economic environment.
“Now is a pretty tough time to buy a home in many markets due to a lack of inventory, a shortage of listings, and a fast market when a home does come up for sale,” University of North Texas Professor John Baen said. “The cost of financing fees upfront and long-term interest rates have tripled from the lows of the COVID era: 2.5–2.75% vs. 7.5% today.”
But North Texas isn’t only known for its beautiful homes and good markets — it’s also one of the safest places to live. A previous study found that Frisco was ranked as the number one safest American city, followed right behind by McKinney in second place, along with Plano in the fifth spot. This was the second year in a row that Frisco was ranked as the safest American city by SmartAsset.
In order to identify the most appealing real estate markets within the United States, WalletHub conducted a comparison of 300 cities using 17 significant metrics. These metrics encompass a wide range, from the appreciation of median home prices to the rate of job growth.
