3. McAllen, Texas
- April 2016 median list price: $220,000
- April 2017 median list price: $205,000
- Year-over-year change in median listing price: -$15,000
While prices have dropped substantially from 2016 to 2017, it’s difficult to say if this is part of a larger trend or just a hiccup. From April 2014 to 2015, the median listing price fell just $1,000 before a gain of more than $40,000, from $179,000 to $220,000 over the next year.
According to Builder Online, new home sales and new home closings are down year-over-year in McAllen. The housing market and economy in general of McAllen are closely tied to the border economy, as the city sits across the Rio Grande from Mexico. According to Arch MI, a mortgage insurance company, out of the top 100 largest cities in the U.S., McAllen ranks among the most affordable, so your paycheck will stretch further.