Plano is a Top US Market to Buy a Home
Plano has landed on a list of the best cities in the country to buy a home.
Researchers at SmartAsset do the annual survey comparing housing costs, apartment rents and incomes in cities across the U.S. And Plano was ranked fifth nationally in the 2019 study that measured factors including change in home values, change in rent, percentage of housing cost-burdened homeowners, housing costs as a percentage of household income and the average effective property tax rate.
Freemont, Calif., and Reno, Nev., headed up this year's best home market list.
Plano got high marks because of incomes in the Collin County city. "The median housing costs are just 18% of the median average salary in Plano," SmartAsset analysts said. "That's the best rate in our study, and it shows that if you have a job in Plano, you stand a good chance of being able to afford a home there. "Just 19% of residents of Plano are housing cost-burdened." Plano scored high in the report even though residential costs in the city have jumped in recent years. "Homes values increased by 45% in the five years from 2013 to 2017, while rents went up 22% in the same period," according to SmartAsset.
Garland ranked 19th among the cities the researchers looked at, and Irving was in 21st place...