Here’s a statistical oddity you don’t see every day on these personal finance websites that churn out rankings of cities and what makes them so special:
Frisco, Allen, and McKinney rank 1-3 in WalletHub’s rankings of the top-10 best places to buy a home. In fact, North Texas suburbs made up half of the top 10 with Denton ranking eighth and Richardson 10th.
That’s a concentrated positive outcome that’s music to the ears of real estate agents, chambers of commerce, and economic developers.
But, as the infomercial says: Wait, there’s more. Fort Worth ranked 11th, Carrollton 17th, Plano 19th, Grand Prairie 23rd, Irving 27th, Dallas 33rd, Garland 52nd, Arlington 53rd, and Mesquite 82nd.
(Dallas and Fort Worth made the rankings, but the suburbs dominated them. Austin, in case someone asks, came in fourth.}
To develop its rankings, WalletHub crunched the data on 300 U.S. cities of various sizes across 17 key indicators of housing-market attractiveness and economic strength. The data set ranged from median home-price appreciation to job growth.
The study determined that the housing market is skewed much more toward sellers this year. Why? Mortgage rates have nearly doubled in the past year and home values have risen nearly 21 percent on average.
To learn more and read what real estate experts have to say about WalletHub’s study, click here.
What is WalletHub? WalletHub is a leading personal finance website that helps consumers make smarter financial decisions.
Report review: Data used to create WalletHub’s ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Council for Community and Economic Research, Zillow, TransUnion, Chmura Economics & Analytics, The National Association of Realtors, ATTOM Data Solutions, and WalletHub research. It’s very detailed and definitely a five-bunny rabbit hole. 🐇 🐇 🐇 🐇 🐇
