Texas residential real estate is tops, particularly in Collin County, north of Dallas.
Four suburbs of Dallas-Fort Worth were ranked in the top 10 for best real estate markets in the nation, along with Austin, the Dallas Morning News reported, citing a study from WalletHub.
McKinney and Frisco earned the top two spots on the list, which included 300 cities, while Denton and Allen were ranked fourth and sixth, respectively. Austin earned the No. 8 spot.
Each market was analyzed based on home price appreciation, share of underwater mortgages, foreclosure rates, housing affordability, population growth and unemployment rates.
McKinney, Frisco and Allen — all north of Dallas — are located in Collin County, which has experienced unprecedented growth in recent years.
In Frisco, a number of multi-billion dollar projects have been delivered or are in the pipeline. Hall Group, for instance, is at the helm of a $7 billion mixed-use development called Hall Park, and StreetLights Residential is building a $3 billion, 112-acre development called the Mix.
Fast-growing cities, like the ones in Collin County, fared the best in WalletHub’s study.
“I would advise buyers to pay more attention to job growth rates and unemployment rates within their metro area,” San Jose State University professor Kelly Snider said in the report. “In most parts of the country, small and midsize employers are hiring and growing, which means the local economies are strong and local markets are stable.”
Denton, meanwhile, is about 40 minutes north of Fort Worth. Notable projects on the way in Denton include a $58 million mixed-use development by Realty Capital Residential. The project, called Parkway Lofts, is slated for apartments, townhomes, a hotel and 22,000 square feet of retail and restaurant space.