Texas real estate is hot, with a new report listing Dallas bedroom community McKinney as the most attractive real estate market in the U.S.
Half of the cities in the top 10 of the locations on WalletHub’s 300-city ranking were in the Lone Star State, with Richardson, Frisco, Denton and Allen also among the best.
The three worst real estate markets on the list were all in neighboring Louisiana — New Orleans, Shreveport and Baton Rouge.
The rankings scored the share of mortgages that are seriously underwater; vacancy rates; home prices compared to income, and median days on the market.
“Current home prices are extremely important, but there’s much more that you need to look at when determining the health of a city’s real estate market,” WalletHub analyst Chip Lupo said. “The best cities may not always be the cheapest, but they offer excellent housing options and long-term stability.”
According to WalletHub’s analysts, McKinney, a community about 30 miles north of Dallas with a population of about 225,000 people, was given high marks “in large part because of its recent growth.”
“While McKinney isn’t necessarily the cheapest city to move to, it’s also far from the most expensive,” they noted.
The three Louisiana cities were all dinged for housing market conditions, particularly the length of time homes stay on the market and the share of underwater mortgages.
Â
