renter friendly

One Dallas suburb edges out another as a top city for renters in 2024

Only three other U.S. cities are better for renters than McKinney, a new report says.

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North Texans looking for their next apartment or house to rent should consider living in the Dallas suburb of McKinney, which was just ranked the No. 4 best city in the nation for renters.

This is the first time the north Dallas suburb has appeared at the top in RentCafe's "Best Cities for Renters to Live in 2024" report. The apartment rental marketplace annually compares 150 U.S. cities based on their quality of life, local economy, and cost of living and housing opportunities.

Charleston, South Carolina maintained its position as the No. 1 best city for renters for the second consecutive year. Rounding out the top five top rental markets are Atlanta, Georgia (No. 2), Sarasota, Florida (No. 3), and Scottsdale Arizona (No. 5).

What made McKinney stand out above all other Texas markets is the suburb's "small town feel" and its community-focused residents, according to RentCafe. (No coincidence that it also took the top spot in WalletHub's 2023 report on the best real estate markets in the U.S.)

"...McKinney is an ideal choice for renters who want to escape the bustle of the city without compromising on urban comfort," the report said. "Boasting a variety of parks, farmers markets and local businesses — all centered around its historic downtown — McKinney is a big draw for both young professionals and students."

Out of the three main metrics in the study, McKinney performed the best in the "housing and cost of living" category, ranking No. 2 out of all 150 cities, and earned No. 9 in the "quality of life" category.

RentCafe ranked McKinney No. 3 nationwide for its high quality apartments, with the average apartment size coming out to a spacious 948 square feet. Approximately 35 percent of all apartments in the city have been built within the last five years, and the city's cost of living is nearly 3 percent lower than the national average, the report said.

Unfortunately, the city fell behind for its "local economy" ranking, only ranking No. 47 nationally.

"Despite ranking slightly lower in this category, McKinney has one of the highest shares of business applications, and 33.4 percent of its residents have at least one college degree," the report said. "However, the city ranks lower in the Local Economy category due to slower renter income growth at 24.1 percent."

Plano tumbles out of the top 10 rental markets
After ranking No. 2 in RentCafe's 2023 report (and No. 13 in 2022), Plano slipped out of the top five and landed as the No. 17 best city for renters in 2024.

Here's how Plano performed in the study's three main categories out of all 150 cities:

No. 7 – Quality of life rank
No. 32 – Local economy rank
No. 45 – Housing and cost of living rank

According to RentCafe's data, a significant hike in Plano's cost of living is primarily to blame for the tumble. The cost of living in the city is 16.6 percent higher than the national average, and only 12.6 percent of all Plano apartments have been built within the last five years. The average size of an apartment in the suburb is 938 square feet.

Other top cities for renters in Texas
Overall, it appears all cities in the Metroplex suffered in this year's rankings. Denton fell into No. 38 in 2024, slipping from its former No. 19 rank last year. Both Fort Worth and Dallas dropped out of the top 50 this year, ranking No. 53 and No. 57, respectively.

Meanwhile, Austin (No. 7) and its northern suburb Round Rock (No. 6) both held on to their positions among the top 10 best U.S. cities for renters for the second year in a row.

Here's how other Texas cities stacked up among the top 100 in RentCafe's report:

No. 31 – Conroe (down from No. 9 in 2023)
No. 52 – Midland
No. 55 – San Marcos
No. 58 – Lubbock (down from No. 43 in 2023)
No. 65 – San Antonio (down from No. 55 in 2023)
No. 71 – Houston (down from No. 53 in 2023)
No. 85 – Amarillo
No. 91 – Waco (unchanged from 2023)

RentCafe used data from their sister site Yardi Matrix to determine each city's ranking based on 20 metrics, including average apartment size, the cost of living and housing, the share of renter-occupied households, renter household median income growth, and more. Cities were chosen if they had an "apartment stock" of a minimum of 10,000 units, and any cities with lower apartment stocks were excluded.

The full report can be found on rentcafe.com.

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Love this listing

Extraordinary modern ranch in Grapevine trots onto market for $7.2 million

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

A stunning, 10-acre North Texas property that's fit for a modern cowboy has just hit the market for $7.2 million: Called the Willow Wood Horse Farm, the equestrian paradise is located on West Kimball Avenue in Grapevine, about 30 miles northwest of downtown Dallas.

The ranch is a combination of elegant and thoughtful modern design paired with all of the practicality required of a fully functioning farm.

According to the listing, which is held by Burgher-Ray Ranch Group and managed by David Burgher and Harlan Ray, the ranch includes several fenced pastures, an enclosed and insulated shop storage building with concrete flooring, and a seven-stall horse barn.

A covered and irrigated riding arena is attached to the barn, every stall has its own turnout, and six of the stalls are 12 feet by 12 feet wide, and the seventh is designated as a foaling stall. An additional turnout for grazing is located adjacent to the barn, as well as a training pen.

Willow Wood Horse Farm in Grapevine, ranch for sale The horse barn has seven stalls with individual turnouts.Photo courtesy of Briggs Freeman Sotheby’s International Realty

But the focal point of the entire estate is the 4,353-square-foot, three-story primary residence that sits at the highest point of the gently sloped property. The home was custom-designed and completed in 2022, featuring an exterior made of metal cladding, concrete, durable ipe hardwood, and glass.

From the front door, guests will see views that lead through the home's living areas and into the 3,000-square-foot back deck, past the 80-foot-long saltwater swimming pool, and out toward the pastures.

The chef's kitchen is outfitted with luxurious Gaggenau appliances, such as a steam convection oven, a conventional convection oven, a coffee machine, stove, dishwasher, a separate paneled refrigerator and freezer, and a warming drawer. A half bathroom and full butler's pantry is located to the side of the kitchen, which is equipped with a prep space and a dishwasher.

Additional features of the home include:

Koi ponds located on either side of the main door that welcome guests to the home
An open concept living space that contains the living room, kitchen, and dining rooms
A primary suite with a spacious walk-in closet and en-suite bathroom
Two additional bedrooms with en-suite bathrooms
Soft opening/closing doors in all main bedrooms
Dynaudio speakers installed throughout the home
Geo-thermal heating/cooling system

A custom-built metal spiraling staircase connects all three levels of the home. The second floor includes a viewing area with floor-to-ceiling windows and access to the covered porch and rooftop deck. The lower level leads to an "acoustically balanced" underground home theater featuring eight-foot concert walls, Dynaudio speakers, an Ember Audio sound system, a 250-bottle wine cooler, and a powder bathroom. The listing notes that this area could be converted into a storm cellar.

Willow Wood Horse Farm in Grapevine, ranch for sale The underground home theater has an impressive Ember Audio sound system with Dynaudio speakers.Photo courtesy of Briggs Freeman Sotheby’s International Realty

A detached three-car garage is located next to the home, and has one EV charging station and two additional outlets for charging. Discreetly designed solar panels are hidden on top of the garage, which are capable of powering the entire residence.

The horse barn, irrigation system, and stock pond all run off of a water well located on the property, while the primary residence uses city water with a filtration system.

"Situated in the heart of the Dallas-Fort Worth Metroplex, just minutes from Lake Grapevine, Southlake, and an easy commute to DFW International Airport, this property affords someone the ability to have all the comforts of the city, while living just slightly removed from it all," the listing says.

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

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