The cost of housing is on everybody’s mind these days. Rents are climbing. Young people and families are being priced out of the home buying market. And lawmakers at all levels are working to address rising prices.
To determine the best local real estate markets in the United States, WalletHub, a personal finance website, compared 300 cities of different sizes across 17 indicators of housing-market attractiveness and economic strength. The data set ranges from median home-price appreciation to housing affordability to job growth.
Best real estate markets
1.Frisco, Texas
2. McKinney, Texas
3. Murfreesboro, Tenn.
4. Durham, N.C.
5. Denton, Texas
6. Cary, N.C.
7. Madison, Wis.
8. Allen, Texas
9. Charlotte, N.C.
10. Irvine, Calif.
Worst real estate markets
291.Lancaster, Calif.
292. Palmdale, Calif.
293. Philadelphia, Pa.
294. Miami Beach, Fla.
295. St. Louis, Mo.
296. Jackson, Miss.
297. Baton Rouge, La.
298. Shreveport, La.
299. Baltimore, Md.
300. New Orleans, La.
“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,” Chip Lupo, WalletHub analyst, said in the report.
Lupo said factors such as the cost of living, potential for the value of homes to increase, availability of recently-built homes, and quality of the city’s job market are important to consider along with asking prices and interest rates.
“The best cities may not always be the cheapest, but they offer excellent housing options and long-term stability,” he said.
