Cities across North Texas are dominating the nation’s real estate market, a new WalletHub study reports.
Frisco, Denton, McKinney and Allen are four of the top 10 real estate markets in the country — at positions 1, 4, 5 and 7, respectively — while an additional eight North Texas suburbs placed in the top third.
WalletHub — a personal finance website — analyzed 18 metrics in its latest study. These include home value forecast, median days on the market, share of young homes, vacancy rate, median credit scores, housing affordability and unemployment rate.
The study also looked at earlier WalletHub rankings of states that are recovering quickest from COVID-19, in which Texas ranked 45th.
“If you aim for long-term growth, equity and profit, you’ll need to look beyond tangible factors like square footage and style,” financial writer Adam McCann wrote in the report. “Those factors certainly drive up property values. From an investor’s standpoint, though, they hold less significance than historical market trends and the economic health of residents.”
Here’s how North Texas cities ranked overall in the study of best cities to buy a home. The overall ranking is determined by the rankings of the real-estate market and affordability and economic growth categories:
No. 1: Frisco
No. 4: McKinney
No. 5: Denton
No. 6: Allen
No. 26: Fort Worth
No. 35: Richardson
No. 43: Carrollton
No. 47: Irving
No. 52: Grand Prairie
No. 55: Plano
No. 74: Garland
No. 86: Arlington
No. 123: Mesquite
No. 137: Dallas
Frisco also earned the top seat for affordability and economic development, while McKinney earned the fourth place in the category.
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Updated at 5:30 p.m. Aug. 25 to provide clarification about the rankings. The best real-estate market rankings do not align with the overall ranking of best cities to buy a house.