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McKinney, Texas Real Estate

A Helpful Guide to Real Estate in the City of McKinney, TX

In 2008, CNN Money put out their annual ranking of the best places to live in the United States. McKinney, Texas appeared at #14 on that year's list. So here we have some strong journalistic support of the McKinney real estate market. As we progress through this article, you'll learn many more reasons for buying real estate in the McKinney area.

McKinney Stats - Geography, Population & More

Before buying real estate in a particular city, you should learn all you can about the city's geography, climate, lifestyle, educational and entertainment opportunities — in short, everything. So let's start with the geography and population of McKinney, Texas.

McKinney is located in Collin County, approximately 30 miles north of Dallas, Texas. But despite its geographical proximity to the "Big D," the two cities are very different. The small-town charm of McKinney starkly contrasts the fast pace of nearby Dallas. And that suits the residents just fine.

The official city website at McKinneyTexas.org had this to say about it: "McKinney's gently rolling hills, tree-lined neighborhoods, historic downtown and beautiful parks give the city a quaint, small town feel -- quite different from the Metroplex's urban sprawl."

Like many small towns in Texas, McKinney has a historic downtown area. In 2006, the original county courthouse in downtown McKinney was converted into a performing arts center that plays host to a variety of events all year round.

To see how the city has grown over the years, you only have to look at the population data. In 2000, the population of McKinney, Texas was estimated at around 54,000 people. By 2008, that number had risen to nearly 120,000 people.

Real Estate Options in McKinney

The McKinney real estate market has grown steadily over the years. As of 2008, it was one of the fastest growing cities in America. To keep pace with the rapid population growth, many new neighborhoods have been built. Some are still in development. When you combine this new development with the historic nature of the city, you end up with plenty of real estate options for anyone buying a home in the McKinney area.

In 2007, the average housing value in McKinney, Texas was $198,000. This was a 34% increase in housing values from 2000. In the grand scheme of things, this is a sign that your investment in McKinney real estate will be a sound one.

Economy & Employment

When considering a McKinney real estate investment, you should also consider the economic strength and status of the city as a whole. After all, these things go hand in hand with property values.

In 2007, the average household income in McKinney, Texas was just over $102,000 (up from $82,000 seven years earlier). The city's workforce is an educated one, with the majority of adults either having some college under the belt, or a college degree of some kind.

Major employers include Raytheon (electronics), the McKinney Independent School District, Collin County, and the North Central Medical Center that employs 750 people in the health profession.

Should You Buy Real Estate in McKinney, Texas?

Should you purchase a house in the McKinney area? For obvious reasons, this is a question only you can answer for yourself. But one thing is for certain. If you do decide to invest in McKinney real estate, you will have a lot to support that decision. To quote the CNN Money ranking we mentioned at the start of this article: "McKinney is unlike most of Dallas newly developed suburbs ... with new businesses finding their way to the city, McKinney and its residents are managing fantastic growth."