Rising home prices in Dallas have been great for home sellers over the last few years, but steady increases in housing costs could prove to be troublesome if you’re hoping DFW is awarded Amazon’s new and highly-publicized HQ2.
Recently, Attom Data Solutions published a report that ranks the 19 finalists for the new Amazon facility, and the findings were based on seven factors that all relate to housing market health and quality of life for prospective home buyers and home owners.
Despite DFW’s current median home price of $284,619, which pretty much falls in the middle of Indianapolis’ lowest median home price of $130,000 and New York’s highest median home price of $1.45 million, Dallas home prices have spiked a whopping 246 percent over the last five years, which easily leads all 19 finalist cities in overall appreciation. The only other finalist city to hit triple digits in home appreciation is Austin, which has seen prices spike 114 percent over the last five years.
Of course not all Amazon employees can afford a home with a million dollar price tag, and it seems the retail giant is looking at current home prices as a major factor in what city it may ultimately choose.
Based on the report’s findings, Raleigh (NC) ranked as the No. 1 city, followed by Atlanta, Pittsburgh, Nashville, Austin, and Denver.