To buy or to rent? That is the question posed to everyone moving to the Lone Star State. With many suburbs surging into thriving cities and more people moving into Texas’ metroplexes, folks are trying to decide which is the best option, rent or buy? Luckily, a handful of places stand out from the pack.
A report from moveBuddha titled, “Where Americans Are Moving: Buyer-Friendly Cities Outpace Renter Havens,” listed the top 25 buyer- and renter-friendly cities that are attracting the most movers right now. Of that list, Frisco and Austin were ranked the No. 1 and 2 best renter-friendly cities, while Killeen and Corpus Christi were ranked the No. 7 and 10 best buyer-friendly cities.
“In No. 1 Frisco, TX, it’d take renters about 29 years of average rental payments to purchase a typical home. As demand for homes skyrocketed in recent years, new arrivals with buying power brought their equity from more expensive coastal homes,” the report writes. “The result? Even though places like Frisco build plenty of homes, their costs have risen disproportionately compared to rents. Both Frisco and No. 2 Austin have lots of available homes (37 and 38 per 1K residents, respectively), but buying has become disproportionately expensive.”…