Texas is home to some of the best and worst real estate markets in the United States for overseas property investors, according to a new ranking from financial site WalletHub.
WalletHub compared 300 cities of various sizes across 22 key indicators of attractiveness and economic strength. The data included ranged from the appreciation of house prices to local job growth.
Houston trailed at the bottom of the list at number 215, with just Amarillo and Corpus Christie worse among the Texan cities. In contrast, the North Texas trio of Frisco-McKinney-Allen came in at Nos. 1, 2, and 3, respectively. This is largely due to their economic strength and affordability.
Houston came in at an overall score of 54.71, with rankings of No. 206 in the ‘real estate market element and No. 219 in the ‘affordability and economic environment’ dimension. In contrast, No. 1 Frisco boasted an overall score of 75.06, with the No. 1 spot for ‘affordability’ and the No. 8 spot for ‘real estate.’
WalletHub analyst Jill Gonzalez explained that in Frisco, almost 15 percent of the homes were built between 2010 and 2016. This contributes towards its real estate strength.
There were five other DFW cities in the top 25. These were Richardson at No. 7, Denton at No. 10, Carrollton at No. 12, Fort Worth at No. 15, and Irving at No. 21. When analysed by size, Fort Worth was No. 3 among large U.S. cities; McKinney was No. 1 among midsize cities; and Frisco, Allen, and Richardson were all among the top five among small cities.
In other major markets in Texas, Austin sat at No. 36 while Dallas was ranked No. 84. San Antonio came in at No. 173 on the overall list. Meanwhile, Austin was ranked eighth among large U.S. cities, while on this list Dallas came in at No. 17 and San Antonio at No. 36. Finally, Houston came in at No. 47 out of 63.