As other cities in Texas have grown in the past few years, Frisco is perhaps the most that has really benefited. Back in 1990, it had a population of just about 6,000 people, today, the city has over 100, 000 people. This growth has made housing prices to shot up at incredible rates. Moreover, it is considered to be a holy grail when it comes to real estate.
What does this mean? It simply means that Frisco, TX is a great place to invest in real-estate. Why! This is a question that will not only help you become a real estate guru but, a great way to understand this million making investment.
First, Frisco, TX has been ranked as the best housing market this year in America. This is followed by other 4 suburbs located North of Texas. This is a sturdy done by WalletHub. The study compared over 300 towns across 21 parameters ranging from house sale turnover rate, average house price appreciation to job growth.
With the above information, one may wonder why Frisco landed the top spot, of them all? Well, the answer is simple, the city is simply outbuilding the rest of the country.
10% of all homes built in the city are new (ranging between 2012 to 2016), which is the largest share in the country. At the same time, it has the highest number of building permits of about 40 per every 1,000 residents. The city also has the highest job growth as well as population growth in American that are estimated to be 28% and 34% respectively.
Back in 2010, a median price for a new home was estimated to be $285,132. By the end of last year, the cost of the same house has increased to an average of $395,900. It has been estimated that the real estate will grow by 4% by the end of 2018, with an average of $506,380 for a median new home.