Frisco, Texas, was the fastest growing city in the U.S. in 2019, according to the U.S. Census Bureau, and now it’s achieved another noteworthy statistic as the city with the greatest number of least tenured homeowners (homeowners who have been in their home for 10 years or less), according to a study by 55places.com, an online resource for active adult communities.
Using data from the Census Bureau, 55places.com analyzed over 300 cities with a population of at least 100,000 to determine which cities contain the greatest number of homeowners who have moved into their homes within the last 10 years, and, on the other end of the spectrum, which cities contain the greatest number of homeowners who have lived in their home for 30 years or more.
At 43.6 percent, almost half of homeowners in Frisco, Texas, purchased their home in the last 10 years. Although Frisco homeowners have not owned their homes for very long, they maintain the greatest median income out of all cities on 55places.com’s least tenured cities list at $120,701. The median property value for the city is also relatively high at $335,900, and only falls below median property values in Denver, Colorado ($395,100); Temecula, California ($394,600); and Murrieta, California ($367,400).
In recent years, Frisco has bolstered development with projects like The Star, a 91-acre mixed-use office, retail and restaurant space that also holds the Dallas Cowboys Headquarters and Training Facility. PGA of America is also currently constructing its new headquarters in Frisco — in a relocation out of Palm Beach County, Florida — and is expected to wrap up construction in June 2022. Frisco’s close proximity to Dallas at just 25 miles north of the city makes it convenient to access all the perks Dallas has to offer while still being removed from some of the headaches of big city living, like congestion and higher prices.
Gilbert, Arizona, came in just behind Frisco in terms of number of least tenured homeowners with 42.3 percent of homeowners having purchased their home within the last 10 years. With seven cities in the top 25, Texas is home to the most locations with the greatest number of new homeowners.
Other cities in the top ten containing the greatest number of least tenured homeowners included two more in the Lone Star State — McKinney and College Station, Texas — as well as North Las Vegas, Nevada; Meridian, Indiana; Surprise, Arizona; Peoria, Arizona; Cape Coral, Florida; and Clarksville, Tennessee.
Although cities with homeowners who had the greatest longevity in their home were scattered across the country, California had the most cities in the top ten with Daly City, Berkeley and Inglewood all making the list.
Detroit, Michigan, interestingly, had the most homeowners with the greatest sticking power. Out of Detroit’s homeowners, 39.3 percent have lived in the same home for 30 years or more with comparatively low median household incomes and median property values at $30,344 and $50,200, respectively.
Daly City, California; Cleveland, Ohio; Berkeley, California; and Honolulu, Hawaii, rounded out the top five cities with the most homeowners living in their home for 30 or more years.
The study also noted metro areas where both the most tenured homeowners reside and where the least tenured homeowners reside. Philadelphia earned the most number of tenured homeowners at 31.7 percent, while Denver earned the greatest number of least tenured homeowners at 35.6 percent.