GoodCall analysts recently published a list ranking 468 cities as the Best Places to Build a Forever Home. The rankings weighed factors such as the cost of a custom-built home, cost of living for the area, home value growth, and other livability metrics.
The cities near the top of the list were areas that had growth in home value, relatively low costs for custom homes relative to income, and tended to be smaller cities.
- Five of the top 10 cities were in Texas, and they all ranked in the top 10% of cities for the low cost of a custom home.
- Most of the top cities are in the Midwest and Mid-South.
- Cities with the lowest costs for custom homes also tend to be areas where home value growth was modest or nearly stagnant.
- Cities with high home value growth tend to be much less affordable – in many cases the cost for a custom home was more than 15 times higher than the area’s median income.
Best Cities to Build a Forever Home
1. Edmond, Okla.
Median Income: $73,885
Cost of a custom home: $526,460
Home value growth: 22%
2. Frisco, Texas
Median Income: $123,055
Cost of a custom home: $987,439
Home value growth: 39%
3. Flower Mound, Texas
Median Income: $120,084
Cost of a custom home: $824,100
Home value growth: 27%
4. Round Rock, Texas
Median Income: $75,974
Cost of a custom home: $582,296
Home value growth: 24%
5. Rochester Hills, Mich.
Median Income: $81,124
Cost of a custom home: $419,942
Home value growth: 21%
6. Midland, Texas
Median Income: $80,700
Cost of a custom home: $649,556
Home value growth: 53%
7. Troy, Mich.
Median Income: $87,447
Cost of a custom home: $418,038
Home value growth: 18%
8. Sugar Land, Texas
Median Income: $111,124
Cost of a custom home: $928,465
Home value growth: 16%
9. Carmel, Ind.
Median Income: $108,660
Cost of a custom home: $ 607,702
Home value growth: 8%
10. Lee’s Summit, Mo.
Median Income: $75,020
Cost of a custom home: $464,506
Home value growth: 9%