Falling unemployment rates and rising wages have led to a thriving housing market, according to HousingWire, but where a prospective buyer actually buys a home is based upon local real estate markets, affordability and local economic environments.
WalletHub determined to discover the top locations in the country where buying a house made the most sense. WalletHub compared 300 US cities by applying 23 metrics to those cities. Included among those metrics were median home price appreciation, home sales turnover rates, foreclosure rates, job growth, health of the local market and affordability.
WalletHub then graded the 300 cities on a 100-point scale and came up with its top 15 best places to buy. The top-ranked city garnered 73.68 points. And, seven of WalletHub’s top-ranked fifteen cities were located in the state of Texas.
WalletHub’s Top 15 Best Places to Buy
- Grand Rapids MI – 67.88 points
– Median home value – $161,800
– Ranking of real estate market – 8
– Affordability & economic environment – 103
- Gilbert AZ – 67.99 points
– Median home value – $340,400
– Ranking of real estate market – 25
- Affordability & economic environment – 8
- Fort Worth TX – 68.23 points
– Median home value – $197,900
– Ranking of real estate market – 16
– Affordability & economic environment – 27
- Austin TX – 68.47 points
– Median home value – $371,900
– Ranking of real estate market – 12
– Affordability & economic environment – 28
- Murfreesboro TN – 69.19 points
– Median home value – $243,900
– Ranking of real estate market – 18
– Affordability & economic environment – 4
- Fort Wayne IN – 69.51 points
– Median home value – $136,700
– Ranking of real estate market – 5
– Affordability & economic environment – 51
- Allen TX – 69.52 points
– Median home value – $319,000
– Ranking of real estate market – 13
– Affordability & economic environment – 6
- Durham NC – 69.67 points
– Median home value – $229,900
– Ranking of real estate market – 4
– Affordability & economic environment
- Carrolton TX – 70.2 points
– Median home value – $286,100
– Ranking of real estate market – 6
Affordability & economic environment – 21
- McKinney TX – 70.23 points
– Median home value – $311,400
– Ranking of real estate market – 26
– Affordability & economic environment – 2
- Denton TX – 70.51 points
– Median home value – $239,900
– Ranking of real estate market – 4
– Affordability & economic environment – 41
- Cary NC – 71.07 points
– Median home value – $378,000
– Ranking of real estate market – 7
– Affordability & economic environment – 3
- Overland Park KS – 71.69 points
– Median home value – $317,000
– Ranking of real estate market – 2
– Affordability & economic environment – 57
- Frisco TX – 72.44 points
– Median home value – $396,800
– Ranking of real estate market – 9
– Affordability & economic environment – 1
- Boise ID – 73.68 points
– Median home value – $301,500
– Ranking of real estate market – 1
– Affordability & economic environment – 38
Zillow provided all median home values.
