Collin County cities among best for first-time homebuyers

WalletHub routinely collects data and conducts thorough analysis. This time they screened 300 cities to find best ones for first-time buyers. Below are some of the rankings:

Small-size cities rankings

  • Allen #7
  • Frisco #19

Mid-size cities rankings

  • Plano #10
  • Garland #11

Overall ranks

  • Allen #13
  • Frisco #30
  • Carrollton #37
  • Plano #39
  • Mckinney #40

Rank


Large Cities (Score)


Rank


Midsize Cities (Score)


Rank


Small Cities (Score)


1Lexington, KY
(62.84)
1Overland Park, KS
(68.49)
1Greeley, CO
(65.46)
2Louisville, KY
(62.73)
2Boise, ID
(63.73)
2Thornton, CO
(65.42)
3Colorado Springs, CO
(60.72)
3Lincoln, NE
(63.55)
3Cedar Rapids, IA
(64.44)
4El Paso, TX
(60.59)
4Salt Lake City, UT
(62.80)
4Westminster, CO
(64.31)
5Denver, CO
(59.98)
5Amarillo, TX
(62.78)
5Longmont, CO
(64.11)
6Pittsburgh, PA
(59.80)
6Laredo, TX
(61.20)
6Centennial, CO
(62.98)
7Tulsa, OK
(59.44)
7Madison, WI
(60.47)
7Allen, TX
(62.76)
8Aurora, CO
(59.35)
8Grand Rapids, MI
(60.36)
8Broken Arrow, OK
(62.75)
9Corpus Christi, TX
(59.24)
9Grand Prairie, TX
(60.02)
9Davenport, IA
(62.43)
10Omaha, NE
(58.80)
10Plano, TX
(59.73)
10Arvada, CO
(62.40)
11Raleigh, NC
(58.65)
11Garland, TX
(59.32)
11Sterling Heights, MI
(62.13)
12Austin, TX
(58.18)
12Des Moines, IA
(59.11)
12Fort Collins, CO
(61.69)
13Oklahoma City, OK
(57.96)
13Fort Wayne, IN
(59.05)
13Springfield, IL
(61.60)
14Nashville, TN
(57.43)
14Gilbert, AZ
(57.36)
14Green Bay, WI
(61.52)
15Columbus, OH
(57.38)
15Chandler, AZ
(56.78)
15Norman, OK
(61.38)
16Arlington, TX
(56.54)
16Baton Rouge, LA
(56.13)
16Warren, MI
(61.21)
17San Antonio, TX
(56.33)
17Springfield, MO
(56.08)
17Livonia, MI
(60.99)
18Kansas City, MO
(56.13)
18Akron, OH
(55.99)
18Pueblo, CO
(60.92)
19Wichita, KS
(55.61)
19Irving, TX
(55.92)
19Frisco, TX
(60.47)
20Tampa, FL
(55.35)
20Buffalo, NY
(55.84)
20Murfreesboro, TN
(60.34)
21Mesa, AZ
(54.99)
21Durham, NC
(55.58)
21Joliet, IL
(60.29)
22Minneapolis, MN
(54.55)
22Toledo, OH
(55.36)
22Mesquite, TX
(60.11)
23Houston, TX
(54.19)
23Peoria, AZ
(54.90)
23Carrollton, TX
(59.84)
24Fort Worth, TX
(53.98)
24Montgomery, AL
(54.83)
24McKinney, TX
(59.72)
25Indianapolis, IN
(53.57)
25Rochester, NY
(54.55)
25Richardson, TX
(59.44)
26Atlanta, GA
(53.56)
26Pembroke Pines, FL
(54.40)
26Peoria, IL
(58.93)
27Charlotte, NC
(53.38)
27Fayetteville, NC
(54.36)
27Denton, TX
(58.34)
28Virginia Beach, VA
(53.23)
28St. Paul, MN
(54.18)
28Lakewood, CO
(57.95)
29Phoenix, AZ
(52.90)
29Augusta, GA
(53.81)
29Surprise, AZ
(57.68)
30Dallas, TX
(52.78)
30Cincinnati, OH
(53.71)
30Erie, PA
(57.44)
31Las Vegas, NV
(51.65)
31Norfolk, VA
(53.68)
31Roswell, GA
(57.22)
32St. Louis, MO
(51.56)
32St. Petersburg, FL
(53.58)
32Dayton, OH
(57.04)
33Sacramento, CA
(50.85)
33Vancouver, WA
(53.48)
33Yakima, WA
(56.94)
34Memphis, TN
(50.38)
34Aurora, IL
(53.45)
34Cary, NC
(56.85)
35Cleveland, OH
(50.18)
35Winston-Salem, NC
(52.90)
35Spokane Valley, WA
(56.56)
36Milwaukee, WI
(49.80)
36Scottsdale, AZ
(52.85)
36Dearborn, MI
(56.40)
37Portland, OR
(49.43)
37Orlando, FL
(52.80)
37Fort Smith, AR
(56.27)
38Albuquerque, NM
(49.32)
38Chesapeake, VA
(52.68)
38Kenosha, WI
(55.90)
39Seattle, WA
(49.18)
39Henderson, NV
(52.53)
39Athens-Clarke, GA
(55.86)
40New Orleans, LA
(48.55)
40Jackson, MS
(52.52)
40Waukegan, IL
(55.54)

Buying a First Home in Plano (1=Best; 150=Avg.):

  • 69th – Housing Affordability
  • 126th – Cost of Living
  • 132nd – Rent-to-Price Ratio
  • 27th – Median Home-Price Appreciation
  • 21st – Foreclosure Rate
  • 41st – Violent-Crime Rate
  • 49th – Property-Crime Rate
  • 146th – Total Home-Energy Cost

Plano ranks No. 39 overall and No. 10 among midsize cities.

Methodology:

To determine the most favorable housing markets for first-time home buyers, WalletHub’s analysts compared 300 U.S. cities of varying sizes across three key dimensions: 1) Affordability, 2) Real-Estate Market and 3) Quality of Life.

They evaluated these dimensions using 19 relevant metrics. Each metric was graded on a scale of 0 to 100, with 100 representing the most favorable conditions for first-time home buyers. Then they calculated the overall scores for each city using the weighted average across all metrics, which we then used to construct our overall rankings.

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