McKinney, Texas: Top-Ranked Real-Estate Market in the U.S.
The cities of McKinney and Frisco have emerged as highly desirable places to live, attracting a significant influx of residents. Their top-tier ranking in WalletHub’s 2023 Best Real-Estate Markets further solidifies their appeal on the U.S. real estate map.
According to the study, McKinney, Texas claimed the coveted title of the best real estate market, boasting exceptional affordability and a thriving economic environment. With a score of 74.41 out of 100, McKinney secured its position at the forefront. Although Frisco scored slightly lower at 74.27 out of 100, it excelled in affordability and economic prospects, making it an attractive destination for home buyers.
The success of these cities is not limited to McKinney and Frisco alone. Denton also ranked impressively in fourth place with a score of 71.67, highlighting its favorable market conditions and overall environment. Allen, securing sixth place with a total score of 69.88, showcased a solid presence with an impressive market position and a prosperous economic setting.
However, purchasing a home in the current market landscape poses challenges due to limited inventory, fewer listings, and a fast-paced market. University of North Texas Professor John Baen emphasized the rise in financing fees and long-term interest rates from the lows witnessed during the COVID era, standing at 2.5–2.75% compared to the current 7.5%.
Yet, North Texas not only shines in its thriving real estate market but also excels in safety. According to a SmartAsset study, Frisco claimed the top spot as the safest American city for the second year in a row, followed closely by McKinney in second place and Plano in fifth place.
To determine the most appealing real estate markets in the United States, WalletHub employed a comprehensive methodology, considering 17 significant metrics. These metrics encompassed various dimensions, ranging from the appreciation of median home prices to the rate of job growth.