Suburbs news

North Dallas neighbor ranks as No. 1 most affordable city in U.S.

McKinney is the most affordable place to live.

Photo courtesy of City of McKinney

A Dallas suburb has landed on top of a new list of the most affordable places to live: McKinney ranked No. 1 based on its relative cost of living and high median household income.

The report by personal finance experts Motley Fool Money, "The 10 Most Affordable Cities With High Salaries and Low Costs of Living," compared hundreds of U.S. cities based on their income-to-expense ratio, where a higher ratio means better affordability. Median income was sourced from U.S. Census data, while cost of living was taken from a 2024 cost of living index from the Council for Community and Economic Research.

McKinney had the highest income-to-expense ratio (1.55) out of every U.S. city on the list to claim the No. 1 spot as the most affordable place to live. According to the report's analysts, McKinney's cost of living index is three points below the national average.

Residents in this Dallas suburb make a median income of $116,654, a staggering 43 percent higher than the national median. That's more than enough to cover the report's estimate of $75,348 for the city's cost of living.

Motley Fool Money says McKinney is alluring for "mid-career Americans."

"The average age [in McKinney] is 37 and the median property value is $440,000, which is about $20,000 higher than the national median home sales price," the report's author wrote. "The largest industries are professional, scientific and technical services, retail, and healthcare."

Plano also earned a spot in the top 10 most affordable places to live, coming in at No. 6 with an income-to-expense ratio of 1.28.

The findings show Plano households make about $108,594 in median annual income to offset an $84,931 cost of living estimate. No wonder residents are happier here than in any other city in Texas.

Plano Arts District Photo by David Downs/Visit Plano

Plano's economy is the strongest factor attracting people to this popular suburb, as well as greater Dallas-Fort Worth's entrepreneurial spirit.

"Toyota Motor North America has its headquarters in Plano, and other large companies have significant footprints there including JPMorgan, JCPenney, and Frito-Lay," the report said.

Plano also excels as one of the best places to raise a family, demonstrating the city's true versatility for both career-focused and family-focused Americans.

Though both McKinney and Plano ranked on the list of the most affordable cities to live, neither appeared in Motley Fool Money's separate ranking of the cheapest places to live. Earning the No. 1 spot in that category was Decatur, Illinois.

The only Texas cities to rank on the list of the cheapest places to live were the Rio Grande Valley cities of Edinburg (No. 3) and Harlingen (No. 6), as well as Amarillo (No. 10) in West Texas.

The top 10 most affordable places to live in the U.S. are:

No. 1 – McKinney, Texas
No. 2 – Morristown, New Jersey
No. 3 – Edmond, Oklahoma
No. 4 – Midland, Texas
No. 5 – Austin, Texas
No. 6 – Plano, Texas
No. 7 – Joliet, Illinois
No. 8 – Kansas City metropolitan area
No. 9 – Atlanta, Georgia
No. 10 – Charleston, South Carolina

dallas suburbs mckinney plano rankings

Big deal

Houston investor acquires Bishop Arts mixed-use portfolio in $170M deal

Photo courtesy of Hines

Michelin-recognized Written by the Seasons is one of several Bishop Arts businesses acquired by a Houston-based investor.

A Houston investor has snapped up a mixed-use portfolio of nine buildings in the Bishop Arts District, the second Bishop Arts property acquisition since August.

Hines Global Income Trust told CultureMap it paid more than $170 million for a mixed-use complex with 539 apartments and 49,000 square feet of high-end shops. The Bishop Arts Portfolio, as Hines refers to the real estate package on its website, sits on almost seven acres.

“Bishop Arts is a special place, shaped by the care and investment of its prior ownership. We see our role as building on that foundation through thoughtful ownership and Hines’ integrated operating platform,” Corbin Eckel, managing director at Hines, told CultureMap.

Hines identified the seller as Dallas-based Exxir Capital. Exxir developed Oak Cliff's 750,000-square-foot, two-block Bishop Main Street area, which features retail, residences, and offices, and includes the properties acquired by Hines.

Tenants of the newly acquired properties include:

Italian restaurant Lucia, a Michelin recommended restaurant.
Michelin-praised Written by the Seasons, which serves a New American menu.
Paradiso, a Southern European-inspired eatery.
Bar Eden Lounge, a swanky cocktail bar.
Village Baking Co., an artisan bakery.

Hines is taking over all leases at the residential properties:

Bishop North, 200 N. Bishop Ave.
Bishop Canopy, 515 W. 10th St.
Bishop Flats, 305 and 431 Melba St.
Treehaus, 211 W. 10th St.
Retail at 308 and 275 N. Bishop Ave.; 404, 332, 336 and 337 Melba St.; and 403 and 321 W. Ninth St. Altogether, the portfolio’s retail component comprises 22 tenants.

The Hines deal comes two months after Dallas-based investor 90Ten purchased 301-321 N. Bishop Ave.301-321 N. Bishop Ave. in Bishop Arts. Tenants include burger diner Hunky’s, Italian pastry and coffee purveyor Palmieri Café, vintage clothing store Dolly on Bishop, gift shop Kawaii Candle Co., and cosmetics retailer Simply Bella.

bishop arts hines global income trust dallas real estate commercial real estate residential oak cliff real estate