North Texas has some of America’s best suburbs for home buyers! This fact, which Texans have long known, has popped up on WalletHub 2023’s Best Real Estate Markets. Let’s look at why these DFW suburbs top the national list.
- McKinney has the number-one spot. That’s out of 300 cities WalletHub considered for their list of the best places to buy a house! What makes McKinney such a standout? The suburb of the Dallas-Fort Worth metroplex ranks for home value forecasts, housing and maintenance affordability, the ratio of rent prices to home prices, and more.
WalletHub’s study also considers wider economic conditions. These include population growth rate, job growth rate, and unemployment rate.
- McKinney’s next-door neighbor, Frisco, took the second spot. Touching the eastern shores of Lewisville Lake, Frisco offers a small-town feel in its historic Rail District. With eclectic shopping and dining options, the stroll-friendly spot is as popular today as it was during the pioneering railroad days.
- At number four, Denton reaches the western shores of Lewisville Lake. If you know Texas, you probably know Denton is a hub for arts and culture. A place where suburban charm meets big-city offerings, with theaters, festivals, art galleries, and live music venues galore. And lots of luxury home development.
- Coming in at number six out of 300, Allen is just a 30-minute drive from downtown Dallas. But it can feel like a world away. Populated largely by single-family homes, Allen has established neighborhoods. Homes here are often in denser settings than those in areas farther away from the metroplex center. Allen is a place where urban and suburban living seamlessly blend. And a place that’s seen significant economic expansion in recent years, turning Allen into one of the country’s top tech hubs.
WalletHub used 17 metrics to determine the best places to buy a home. But one big reason stands out: price. Home prices seem to be “high” just about everywhere in America. But, according to a recent report supported by the Texas Real Estate Research Center at Texas A&M University, DFW prices were down 1% year-over-year.
While they top the national list, these four spots aren’t the only great places to buy a home in North Texas. Contact one of our loan experts to talk about these and other amazing areas to buy a home in the DFW area. Connect with us online or call us at (972) 591-3097.