TEXAS — Housing in Texas has been booming over the past year, and while locating a suitable house can be a challenge in some areas of the state as interest outstrips inventory, a new study claims it’s worth the hurdles.
The WalletHub study, 2021’s Best Real-Estate Markets, in fact places the five of the top six ranked markets in the Lone Star State. The top six are as follows:
- Frisco, Texas
- Austin, Texas
- Gilbert, Arizona
- McKinney, Texas
- Denton, Texas,
- Allen, Texas
Anyone who has looked for houses recently in Austin, for instance, may have suffered a serious case of sticker shock. However, cost isn’t the only factor the study’s authors considered.
Factoring in to the rankings were subjects including the number of underwater mortgages, median days on the market, median home-price appreciation, foreclosure rate, the percentage of delinquent mortgage holders, and several others.
In addition, the top three cities by size are all in Texas. Austin topped the list for large cities, Frisco came in at No. 1 for midsize cities, and Denton took the top spot for small cities.
As for methodology, the authors compared 300 cities across two key dimensions: “Real-Estate Market” and “Affordability & Economic Environments.” Those dimensions were evaluated using 18 relevant metrics.