Everything is bigger — and possibly better — in Texas.
WalletHub is out with its annual list of America’s best real estate markets — and all signs point to McKinney, Texas.
The northern Dallas suburb’s ample housing stock and healthy job market helped it rise above 299 other US cities this year, including some particularly strong contenders elsewhere in Texas, North Carolina and California.
McKinney’s superior real estate market is largely due to a decade-plus building spree. A glut of new housing built between 2010 and 2023 offers buyers plenty of turn-key, long-lasting housing options, according to WalletHub.
The fast-growing city offers the 74th cheapest median home prices out of the 300 cities studied, and the 11th highest rate of job growth.
McKinney is a darling among “best of” real estate rankings, including a recent RentCafe analysis that declared the booming suburb the best place to rent, too.
Cary, North Carolina trailed behind McKinney in second place, largely due to its low cost of living. The city, located just outside the state’s capital of Raleigh, boasts some of the country’s lowest energy, phone service and home maintenance costs.
While Cary residents save on bills, they still have to shell out on their homes. Cary, as well as Raleigh overall, exploded in popularity after the COVID-19 pandemic, and currently ranks 96th for housing affordability.
Cary locals are well-equipped to afford it, though — the prosperous city offers some of the lowest unemployment rates in the nation and excellent rates of job growth, according to WalletHub. Nearby Durham, North Carolina, came in at No. 4.
“The best cities may not always be the cheapest, but they offer excellent housing options and long-term stability,” said analyst Chip Lupo.
The cities of Irvine, California and Richardson, Texas occupied the rest of the top five.
New York City’s real estate prospects landed it in 230th place this year. The Big Apple’s unique housing stock put up dismal numbers for the median number of days on the market, median home-price appreciation and home prices as a percent of income.