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10 Dallas-Fort Worth cities unlock spots on new list of top U.S. home markets

Frisco, Allen, and McKinney take the top three spots.

Photo by Getty Images

At least by one measure, the Dallas-Fort Worth homebuying market is still on fire. Cities in DFW make up one-third of the top 30 cities in WalletHub’s new ranking of the best places in the U.S. to buy a house.

Frisco, Allen, and McKinney hold the top three spots. In fact, only one Texas city outside DFW makes the top 30: fourth-ranked Austin.

To determine the best local real estate markets in the U.S., WalletHub compared 300 cities of various sizes across 17 key indicators of housing-market attractiveness and economic strength. Factors ranged from home-price appreciation to job growth.

Here’s how DFW cities rank among the top 30:

Frisco, No. 1
Allen, No. 2
McKinney, No. 3
Denton, No. 8
Richardson, No. 10
Fort Worth, No. 11
Carrollton, No. 17
Plano, No. 19
Grand Prairie, No. 23
Irving, No. 27

Recent data shows that although the DFW real estate market may be desirable, it is shifting.

The median sale price of a single-family home in DFW stood at $421,000 in July, up 15 percent compared with the same time last year but down 3 percent from a month earlier. The number of home sales dropped 14 percent from last July to this July. The data comes from the Texas Real Estate Research Center at Texas A&M University and North Texas Real Estate Information Systems.

“It’s still a seller’s market,” Fort Worth real estate agent Elizabeth McCoy told The Texas Tribune. “But certainly we’re seeing buyers be able to have a little bit more choice. And that’s such a good thing.”

In a sign of the regional market’s continuing strength, the median list price for a DFW home landed at $461,000 in August, up 16.7 percent from the same time last year, according to a report released September 1 by Realtor.com. Among the state’s four major metro areas, only DFW saw a double-digit increase in the median list price during that period.

Also, the median number of days a DFW home spent on the market in August (36) was the lowest among the four major metros in Texas, according to Realtor.com. However, 26.3 percent of homes for sale in DFW dropped their asking prices in August.

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Real Estate News

Dallas real estate developer pleads guilty to bribing 2 city officials

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Dallas developer Sherman Roberts

Dallas real estate developer Sherman Roberts pleaded guilty on November 12 to conspiracy to commit bribery, according to a release from the U.S. Attorney for the Northern District of Texas Leigha Simonton.

Roberts, 70, who previously helmed City Wide Community Development Corporation, was indicted in December 2020. According to court documents, Sherman bribed two city council members — Mayor Pro Tem Dwaine Caraway and City Council member Carolyn Davis — to support loans and low-income housing tax credits for his apartment projects.

In return for several thousand dollars in cash – plus the promise of future payments after her city council tenure ended – Davis lobbied for Roberts' real estate projects, including Serenity Place, Runyon Springs, and Patriot’s Crossing.

She promoted Serenity Place to the City Housing Committee, demanded other developers also seeking real estate funding withdraw their applications in order to increase Roberts' chances of success, recommended Serenity Place receive a 9 percent low income housing tax credit, and voted to approve a $1.9 million loan from the city of Dallas.

“Right now you and me are making money,” Roberts texted Davis shortly after the vote.

Later, she repeatedly reached out to ask for more money — "just a few dollars" — and he agreed.

Davis and Roberts then met with Caraway to address a problem with the Patriot's Crossing project. In return for several hundred dollars cash and a $2,000 monthly stipend, Caraway agreed to stop the city from issuing a request for proposal (RFP) for the Patriots Crossing project and to deliver the project for Roberts.

“How much is the project worth?” Mayor Pro Tem Caraway asked. “Once you’re successful with this project, don’t forget about me.”

“I won’t forget about you,” Mr. Roberts responded. “That’s where the money is… the money has never been an issue.”

Roberts now faces up to five years in federal prison. He is slated to be sentenced on March 12, 2025.

Caraway pleaded guilty in 2019 to conspiracy to commit honest services fraud and tax evasion and was sentenced to more than four years in federal prison.

Davis pleaded guilty in 2019 to conspiracy to commit bribery concerning an agent of a local government receiving federal benefits, but passed away in a car crash before she could be sentenced.

Roberts was one of three real estate developers charged in connection with the bribery scandal. Devin Hall, the developer behind the Grand Park Place apartment project, pleaded guilty in August 2020. Ruel Hamilton, the AmeriSouth Realty Group executive who backed the Royal Crest housing project, is awaiting retrial on conspiracy and bribery charges.

The Federal Bureau of Investigation’s Dallas Field Office conducted the investigation with the assistance of IRS – Criminal Investigation’s Dallas Field Office. Assistant U.S. Attorney Marcus Busch is prosecuting the case with the help of Assistant U.S. Attorney Donna Max.