Allen, TX Ranks 3rd with Home Buyers
A few weeks ago we told you about Allen’s ranking as one of the top fifty safest cities in Texas. Now, we’re sharing more good news:Allen is ranked third in a recent WalletHub study of the best places for buyers purchasing a home for the first time!
Affordability, Real Estate Market and Quality of Life are the three umbrella factors in the study, measuring 300 U.S. cities of varying size. Some of the interesting weighted factors (under the three broad categories) include Driver-Friendliness, Share of Listings with Price Cuts and Average Cost of Home Owner’s Insurance.
When the study results are narrowed by city size, Allen comes out even better in the Small Cities category at #2, with nearby McKinney barely inching ahead in the top spot. In fact, many of our neighboring cities in north Texas made the overall top fifty list, including Frisco, Richardson, Denton, Carrollton, Grand Prairie, Plano, Fort Worth and Garland.
In addition to Allen’s high ranking for one of the best places to buy, the study also brings to light what is clearly one of Allen’s most notable characteristics: safety. Our city ranks #2 in the Lowest Property Crime Rate ranking in this study, out of all 300 cities considered!
On the other hand, Allen’s affordability ranking is 151 (of 300), which is not surprising given the anticipated shortage of homes in and around Allen in the coming years. On our Facebook page we’ve been sharing news of the home building labor shortage paired with rising home values in our area; given these circumstances, affordability might be an area in which Allen continues to rank lower. However, we make up for it with a Real Estate Market ranking of six and a Quality of Life rank of three.
One thing is for sure: if you live in north Texas, it’s a great place to be in 2017!
Check out the cities were that ranked for best and worst places to live!