Real Estate

2024 Guide: 6 Budget-Friendly Texas Cities for New Homebuyers

By Domingo Rolfson

May 25, 2024

140

Being a first-time homebuyer is a dream for many Americans. Yet, the road to homeownership has been arduous for many due to a confluence of factors such as inflation, exploding mortgage rates, low inventory, and high home prices. Despite these challenges, some regions in America offer more affordable options than others. 
 
The U.S. Census Bureau recently reported that the 10 counties with the largest net domestic in-migration were mostly in the South. The Lone Star State led this trend, with five of its counties attracting the most Americans. However, not all cities are equal when it comes to affordability. 
 
Several Texas cities stand out as attractive options for first-time homebuyers, according to Hannah Jones, senior economic research analyst at Realtor.com. Wichita Falls is one example where buyers can find homes priced significantly lower than the state median price. 
 
Jones highlighted Lockhart as another city offering both affordability and commutability to major metro areas like Austin or San Marcos. With prices below statewide medians and located just 30 miles from central Austin, Lockhart presents an affordable option within commuting distance of economic hubs. 
 
Haltom City offers similar benefits: proximity to major metros (Fort Worth or Dallas) coupled with significant savings on housing costs compared to statewide averages. 
 
Manor stands out among Central Texas locations due largely to its closeness to technology hubs in North Austin along with reasonable real estate prices compared against those found in downtown Austin itself, says Dan Hnatkovsky, CEO of NewHomesMate, an online marketplace catering specifically towards new construction homes. 
 
In Manor, you'll find diverse industries, including small manufacturing companies, along with growing retail options that provide residents with continued opportunities for stable employment amidst ongoing investment across all sectors throughout the greater metropolitan area around Houston. There's also Baytown, where houses sell under $350k while also boasting a strong school district and plenty of new shopping and dining venues popping up, making top spots within the entire Houston Metroplex region. 
 
For those interested, Dallas Metroplex Mesquite offers a balance between affordability, excitement, and big city living. Homes are available in a wide range of prices and neighborhoods, all located close to shopping, dining, and entertainment options. 
 
Historically, cities like Plano have been go-to choices for first-time buyers families, but as those places’ home values have increased dramatically over the past few years, other areas such as Mesquite have become increasingly attractive alternatives. 
 
Located just east of Dallas, Mesquite provides easy access to major employers while also nurturing its own vibrant arts scene, with institutions like the Mesquite Arts Center and the Mesquite Symphony Orchestra adding cultural richness to the community. 
 
As Hnatkovskyy notes, "You get a lot for your dollar compared to other Dallas-area cities," making it an appealing choice for first-time homeowners looking for affordable options within reach of larger metro areas. 
 
In conclusion, despite economic factors that may complicate the path towards homeownership, there remain viable locations where prospective buyers can find reasonably priced homes paired with amenities offered by nearby metropolitan centers, thus achieving their American dream without breaking the bank.


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