As the Dallas-Fort Worth area has grown in the past couple years, one city that's benefitted perhaps the most is Frisco.
The city that had a population of just about 6,000 in 1990 is expected to be home for 375,000 people by the year 2035. As Frisco has grown, housing prices have shot up at incredible rates.At the Dallas Business Journal, we're seeing how far your dollar goes when shopping for a home. Spoiler alert — your dollar doesn't go near as far as it used to. That's especially the case in Frisco.
Click to see what else you can afford in Frisco.
“People like your teachers or a couple with a household with a combined income of $150,000, they will not be able to afford in two years what they should be able to,” said Tommy Wooten, a Realtor who often works in Frisco. “Affordability is creeping downward and it’ll keep going down if the supply and demand remain at the current ratio.”
Scott Davis of Meyers Research studies the new home sales market. Of cities with a population above 100,000, Frisco has seen the highest growth for number of new home sales the last several years.
“The price appreciation you’re seeing in Frisco is along the lines of what you’re seeing inside urban markets like Austin, Houston and Dallas — those interior city markets where you’d expect to see a lot more price appreciation,” Davis said. “It was surprising to see that.”
The growth on the residential real estate side has been mirrored by commercial. The Dallas Cowboys moved their headquarters to the city last year, and now all four of the professional sports franchises have some sort of presence in Frisco. FC Dallas also plays its home games in the city.
With the tens of thousands of white-collar jobs coming to the area via the $5 Billion Mile and nearby Legacy West in Plano, the population is only expected to go up. Frisco estimates its population will reach 375,000 by 2035.
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