The city of Frisco has $397,293 as it’s house value median. In the last year the worth of houses has increased 3.9 percent. There is the prediction that the worth of houses will increase in the following year by 2.9 percent.
In Frisco, per square foot, the list cost median is $159. The metro area of Dallas-Fort Worth has a lower per square foot list cost average which is $136.
$498,900 in Frisco, Texas is the present list cost median for homes. For houses that have sold, $383,700 is the cost median.
$2,195 in the city of Frisco is the rent cost median. The Dallas-Fort Worth Metro area has a considerably lower rent cost median which is $1,675.
When it comes to the economics of the home industry, the rate of foreclosures is an important ingredient. This is because the lower the foreclosure rate, the higher the value of houses in a particular location.
0.2 houses go through foreclosure out of every 10,000 houses in Frisco. The metro area of Dallas-Fort Worth has a higher foreclosure rate of 0.4. and the United States has a much higher foreclosure rate of 1.6.
When a home owner experiences foreclosure, there is a first step they experience. It is called mortgage delinquency. It occurs when a house owner skips the important task of making a payment on their mortgage.
0.4 percent is the percentage in Frisco of mortgage delinquencies. The United States has a much higher mortgage delinquency percentage of 1.6 percent.
Due to the recession of 2008 that had a devastating effect on housing, the worth of houses went down a greater amount than 20 percent in the United States. This has resulted in a lot of owners of houses to be underwater regarding the mortgages they carry.
Being underwater has the meaning of the owner of a house owing more on their mortgage debt than the worth of their house. 4.3 percent in Frisco is the percentage of owners of houses having a mortgage that is underwater. This is a lower underwater rate than the metro area of Dallas-Fort Worth which is 4.4 percent.
The median household income in Frisco, Texas is very high compared to most other cities in the country. It is $112,155.
In looking at commercial real estate in Frisco, Texas, it has been forecasted that in around 10 square miles of Frisco and West Plano, there will be thousands of new office workers coming in. An area of Frisco/West Plano called Greater Legacy, 2 years ago experienced having employment of around 88,000. It has been projected that there will be an additional 46,700 new job positions added in the next 3 years.
Office space demand has risen tremendously. This is the reason vertical construction is being constructed here where you can see sprawling campuses that are corporate. In addition, house demand has also risen.