Hometown Glory

Austin ranks among the 5 best real estate markets for 2016

Austin ranks among the 5 best real estate markets for 2016

Easton Park development Austin home house move moving cardboard box
Austin is the No. 1 real estate market among large cities. Photo courtesy of Easton Park

We’re coming off one of the hottest summers for real estate in recent history, but if you want further proof that Texas is the place to be for both buying and selling a home, here is some.

Personal-finance website WalletHub conducted an in-depth analysis of 300 U.S. cities to determine the best real estate markets for 2016. Six of the top 10 are in Texas: Frisco, McKinney, and Richardson rank Nos. 1, 2, and 3, respectively. Austin ranks No. 5, followed by Allen, No. 6, and Plano, No. 9.

To find the most attractive housing markets, WalletHub analysts looked at 16 key metrics, including median home-price appreciation, housing affordability, and job growth rate.

Austin has the best real estate market among large cities, followed by Denver and Nashville, Tennessee. Contributing factors include the lowest unemployment rate and the 10th best job growth rate.

Rounding out the top 10 are Murfreesboro, Tennessee (No. 4); Overland Park, Kansas (No. 7); and Thornton (No. 8) and Arvada (No. 10), Colorado. The five worst real estate markets are Flint, Michigan; Cleveland; Detroit; and Paterson and Newark, New Jersey.