Several cities in the Dallas-Fort Worth metropolitan area have been identified as some of the healthiest real estate markets of 2023, according to a new WalletHub report.
The finance analysis company compared 300 U.S. cities based on 17 metrics: home values, home-price appreciation, median days on market, share of underwater mortgages, rent-price to sale price ratio, foreclosure rates, mortgage delinquencies, vacancy rate, share of new homes, building activity, housing affordability, maintenance affordability, population growth, job growth, unemployment rates, underemployment rates and median credit score.
McKinney ranked as the No. 1 real estate market in the country — the city has the second-best economy of any city analyzed and the second-strongest real estate market. Frisco ranked at No. 2 overall, followed by Denton at No. 4 and Allen at No. 6.
McKinney and Frisco also ranked as the top midsize real estate markets. Other high-ranking midsize Dallas-area cities on the list were Plano (No. 10), Irving (No. 15), Grand Prairie (No. 21) and Garland (No. 28).
Comparing large cities, Fort Worth’s real estate market ranked No. 7 while Dallas ranked No. 12 and Arlington ranked at No. 20. Denton and Allen ranked as the top small real estate markets, followed by Richardson at No. 8 and Carrollton at No. 14.
Richardson was also identified as the city with the No. 5 lowest median days on the market.