A New Study by NerdWallet finds the City of McKinney One of the Best Places for Homeownership in Texas
MCKINNEY, Texas, Feb. 6, 2014 /PRNewswire/ -- NerdWallet, a consumer advocacy website, recently conducted a study to find the best places for homeownership in Texas – and McKinney made the list.
The study based its rankings on the following criteria:
- Homeownership rate
- Selected monthly homeowner costs
- Monthly household income
- Population growth
"When people are looking for a home, they are looking in McKinney," said Mayor Brian Loughmiller. "We've worked hard to build a community that offers exemplary schools, affordable and diverse housing, and employment opportunities. The city of McKinney offers residents beautiful tree-lined streets, a charming historic downtown and a strong sense of community as well as a robust business environment."
NerdWallet ranked McKinney as the 12th best place in Texas for homeownership. The area has a homeownership rate of 71.7 percent, and median monthly homeowner costs are $1,839. McKinney grew by 11.2 percent between 2010 and 2012.
"Affordability and a growing population make McKinney an excellent choice for homeowners," said NerdWallet analyst Jaime Ortiz. "Residents spend only 26.9 percent of their household income on homeowner costs."
McKinney's proximity to both DFW International Airport and the corporate McKinney National Airport make it an ideal location for business and executives.
The City of McKinney has also been recognized by Realtor.com as the second most-searched-for places to live. In addition, CNN Money named the city the second best place to live in the nation, citing plenty of housing options; low taxes; abundant job opportunities in technology, energy and medicine; as well as a new conference center and hotel complex in the works. Realtor site Movoto.com also named McKinney the second best place to live in the country among mid-sized cities.
For more information about the city of McKinney visit the city's website at http://www.mckinneytexas.org/.
McKinney, Texas, is unique by nature. As one of the fastest-growing cities in the U.S., McKinney has a current population of more than 149,082. Incorporated in 1848, the city is located 30 miles north of Dallas and is the county seat of Collin County. McKinney offers rolling hills, lush trees, a historic downtown square and unique neighborhoods and developments. The city ranks No. 2 on the Money Magazine Best Places to Live in America list. Visit the city's website at www.mckinneytexas.org.
SOURCE City of McKinney