The best real estate markets in the country can be found (clap clap clap clap) deep in the heart of Texas, according to a new data study from WalletHub.
The foundation of WalletHub’s 2023 Best Real Estate Markets report, 300 cities were evaluated across a 17-metric data set that included home valuation, median home price appreciation, mortgage delinquencies and foreclosures. Using this criteria, WalletHub crowned McKinney, Texas as the nation’s best real estate and ranked five Lone Star localities among its top 10 markets with Frisco in second place, Denton in fourth place and Austin in eighth place.
North Carolina had two localities in the top 10 list with Cary in fifth place and Durham in seventh. Nashville was ranked in third place. On the flip side, Baltimore placed 300th and last with three Louisiana cities among the bottom dwellers: New Orleans ranked 299th out of 300, Shreveport ranked 298th and Baton Rouge was 297th.
Among the individual criteria, four Florida metros – Miami, Hialeah, Miami Gardens and Miami Beach – had the lowest share of seriously underwater mortgages 0.71% while St. Louis had the highest at 14.63%. South Gate, California had the lowest vacancy rate with 2.02% and Miami Beach had the highest at 35.24%.
Flint, Michigan, had the lowest home price as a share of income at 108.16% while Santa Monica, California, had the highest at 1,486.77%. And Warren, Michigan, has the fewest median days on the market with 28, while Yonkers, New York, had the most at 146.