Texas #1 in Real Estate Market

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Buy. Sell. Trade. The real-estate market can be hot or not. As with everything, location plays a key role in the real-estate market. Whether you’re trying to make a career in real-estate, selling your current home or buying a new one, there are certain key factors to consider that will allow you to get the most bang for your buck in whatever situation you find yourself.

A recent study conducted by WalletHub attempted to find out. The study surveyed 300 U.S. cities across several domains and indicators in order to determine which cities had the most prime real-estate markets. Let’s take a look at the results and see how Texas stacked up.

Big Real-Estate.

Photo: Flickr/Thomas Morris

Texas showed strong in this survey with Frisco receiving the #1 overall rating. Frisco was virtually unbeatable with #1 ratings in both the Real Estate Market and Affordability and Economic Environment Categories. Rounding out the top five cities overall were McKinney, Texas (#2), Allen, Texas (#3), Cary, North Carolina (#4), and Richardson, Texas (#5).

At the bottom of the list, ranked at #300 overall was Newark, New Jersey. Newark was also ranked dead last in both the Real Estate Market and Affordability statistical categories. Round out the bottom five cities on the list were Paterson, New Jersey (#299), Elizabeth, New Jersey (#298), Miami Beach, Florida (#287), and Bridgeport, Connecticut (#296).

Cheap Real Estate

Photo: Flickr/Kevin Dooley

How did other cities in Texas fare? Carrolton cracked the top ten, receiving an overall ranking of 8th. Plano and Irving both were in the top 50, ranking at #27 and #50 respectively. Grand Prairie and Denton were ranked at #51 and #53. Austin and Laredo found themselves at #68 and #69.

Some other interesting data that arose from the study was the rate of millennials, or lack thereof, rather, who are putting their money in the real-estate market. Thomas Nessleln, Economics Chair at the University of Wisconsin-Green Bay, suggests that due to the 2007-2008 market crash, Millennials who were just beginning to enter the workforce were subject to the wrath of super high-interest rates and much stricter underwriting standards. For older Millennials who are looking to buy a home, Nessleln suggests that “great discipline and sacrifice” is necessary in order to build enough savings to be less of a risk.