The Brief
McKinney, Texas is ranked as the top real estate market right now, according to WalletHub’s report. Four cities in Texas and three in North Carolina ranked in the top 10 on this year’s list.
WalletHub ranked the top real estate markets by examining key factors like the housing market, affordability and economic market, and the city’s population.
FILE-A For Sale sign is seen in front of a home. (Photo by Justin Sullivan/Getty Images)
Purchasing a home involves many things for prospective buyers to consider from housing affordability to the stability of a city’s job market.
And whether you’re actively searching for a home or in the planning stages, WalletHub has a ranking of the best real estate markets nationwide.
WalletHub determined the best real estate markets for their report comparing 300 cities of varied sizes using two categories, “real estate market” and “affordability and economic environment.”
The personal finance website then assessed those categories using 17 metrics which are graded on a 100-point scale, with a score of 100 defining the healthiest market, and then determined each city’s average using the 17 metrics to calculate its overall score and used the resulting scores to rank the cities.
Each city in the ranking is characterized based on the size of its population. A large city has more than 300,000 residents, a midsized city has 150,000 to 300,000 residents, and a small city has less than 150,000 residents.
The list features four cities in Texas and three in North Carolina ranked in the top 10.
Best Real Estate Markets
1. McKinney, Texas
2. Frisco, Texas
3. Cary, North Carolina
4. Nashville, Tennessee
5. Durham, North Carolina
6. Gilbert, Arizona
7. Charlotte, North Carolina
8. Denton, Texas
9. Allen, Texas
10. Port St. Lucie, Florida
WalletHub’s full list of best real estate markets can be viewed here.
The Source
Information for this story was provided from a WalletHub study. WalletHub created the ranking using data collected as of July 24, 2024 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, a property data provider – U.S. Home Equity & Underwater Report, and ATTOM, a property data provider – U.S. Foreclosure Market Report. This story was reported from Washington, D.C.
Conclusion
WalletHub’s ranking of the best real estate markets can help prospective buyers make informed decisions when searching for a new home. The top-ranked cities offer a mix of affordability, economic stability, and strong housing markets. Whether you’re looking for a place to start a family or invest in real estate, this ranking can provide valuable insights into the best cities to consider.
FAQs
Q: What factors did WalletHub use to rank the top real estate markets?
A: WalletHub used two categories, “real estate market” and “affordability and economic environment,” and 17 metrics to assess those categories.
Q: How did WalletHub determine the best real estate markets?
A: WalletHub calculated each city’s average score using the 17 metrics and used the resulting scores to rank the cities.
Q: What are the key characteristics of the top-ranked cities?
A: The top-ranked cities offer a mix of affordability, economic stability, and strong housing markets.
Q: How can I view the full list of best real estate markets?
A: The full list of best real estate markets can be viewed on WalletHub’s website.
