Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 202,690, 65,770 total housing units (homes and apartments), and a median house value of $539,246, McKinney house prices are not only among the most expensive in Texas, McKinney real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in McKinney, accounting for 73.36% of the city's housing units. Other types of housing that are prevalent in McKinney include large apartment complexes or high rise apartments ( 21.39%), duplexes, homes converted to apartments or other small apartment buildings ( 2.24%), and a few row houses and other attached homes ( 2.15%).
The most prevalent building size and type in McKinney are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.40% owning and 35.60% renting.
McKinney homes and real estate are some of the newest in America. 68.62% of McKinney's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the McKinney real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 24.76%), and between 1940-1969 ( 5.09%). There's also some housing in McKinney built before 1939 ( 1.53%).
In the last 10 years, McKinney has experienced some of the highest home appreciation rates of any community in the nation. McKinney real estate appreciated 144.92% over the last ten years, which is an average annual home appreciation rate of 9.37%, putting McKinney in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, McKinney definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, McKinney's appreciation rate, at 3.39%, has been at or slightly above the national average. In the latest quarter, McKinney's appreciation rate has been 2.09%, which annualizes to a rate of 8.61%.
Relative to Texas, our data show that McKinney's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within McKinney differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McKinney - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best McKinney real estate investment or home purchase decisions.
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