I came across an article in the Community Impact Newspaper that reveals that Cedar Park has the 5th highest housing cost in the state of Texas.
The article points out that Frisco, TX has the highest annual cost of any Texas city coming in at basically, $30,000. That is from new data from the Real Estate Center at Texas A&M University.
The real estate center studied a survey of 59 Texas cities. This was data from the US Census Bureau’s American Community Survey for 2017. They found that state’s average in housing costs for homeowners with a mortgage is $18,156 per year.
Coming after Frisco is The Woodlands ($29,016), Sugar Land ($28,044), Flower Mound ($27,084), and Cedar Park ($25,716). So, it’s getting more and more expensive for people to live in Cedar Park and these other cities.
Why is that? Well, it’s primarily caused by property taxes imposed by Counties, Cities, and School Districts. These taxes take the biggest bite out of the homeowner’s purse or wallet.
In Frisco, about 24 percent of the housing costs is associated with property taxes.
I hear it all the time here in Austin, TX and Cedar Park, TX. Unfortunately, many people feel they are being priced out of their homes by rising taxes.
Now, it’s great that Texas has no income tax. People love that about Texas. But rising property taxes is another issue. It’s becoming an even bigger issue year by year as house prices rise.
I live in Cedar Park and it’s a wonderful city. We enjoy a robust economy, a strong job market, and a much desired culture, not to mentioned the beauty of the Central Texas hill country, lakes, and rivers.
People love living here. People love moving here.
If you happen to be in need of real estate help, please give me call. Dan Forbes, Forbes Property Group at RE/MAX 1. 512-516-4666.
