Frisco, Allen & Plano TX Listed Among Most Prosperous Cities in US
In Plano, Allen and Frisco TX, homes are being built at a steady pace to keep up with the demand spurred by the cities’ growing economies. The Economic Innovation Group recently revealed that the three cities are among the most prosperous in the entire nation.
In EIG’s 2017 rankings of American cities, Frisco and Allen TX are listed among the top fifth of the country’s most prosperous small to mid-sized cities, while Plano ranks second on the list of the ten most prosperous large cities.
These Texas suburban cities benefit from their proximity to the Dallas-Fort Worth metroplex while being far enough away from the urban centers to have the advantages of small-town living. Much of the income earned by suburban residents goes back into their communities, helping to make them even more prosperous. Ongoing commercial and residential development ensures a plentiful supply of housing, office and retail space as well as entertainment areas, community services, infrastructure, schools and parks.
On top of all that, the cost of living in these three cities is more affordable than the national average. An influx of large employers provides high-quality job opportunities, while the climate allows for year-round enjoyment of the outdoors.
The rankings were based on several factors including resident education level, housing vacancy rates, employment levels, poverty rate, median incomes, job availability and change in number of businesses. Prosperous communities are distinguished by high employment rates, high levels of residents with at least a high school diploma, low housing vacancy rates, low poverty rates, plenty of job opportunities, median incomes well above the state average and growing numbers of new businesses.
Overall, houses are also newer on average in prosperous areas. The median age of a home in the most distressed areas of the northeast and Midwest is 68 years, while in prosperous areas the median home age is just 17 years, thanks to the steady and ongoing building of new homes.frisco ISD new homes, frisco new homes for sale, home builders frisco tx