Cost of Living

McAllen MSA The Best Places to Own Real Estate - 1/10/2007
According to Fortune magazine, the McAllen-Mission area was named the best place to buy real estate in the nation. The magazine said the median home price in the McAllen-Mission area is expected to rise 8.5 percent during 2007 and 9.8 percent the following year. That will make it the fastest growing home market in the nation, beating out No. 2 El Paso and No. 3 Albuquerque. In October, Business 2.0 magazine, which is also owned by Time Warner, said McAllen was the fifth best place to buy a home. The October Business 2.0 article said the median home value, which is currently at around $69,000, would jump 57 percent during the next five years. Fortune and Business 2.0 magazines both used data from Moody's Economy, which measured real estate indicators like median home prices, expected population growth, and economic strength. McAllen was also featured as one of the nation's most undervalued real estate markets in June by Global Insight and National City Corporation.

This data was featured in a Money Magazine article and on CNN.com. (Reprinted from 12-22-06)
[McAllen Monitor] (McAllen-Edinburg-Mission: Housing)