Frisco, TX Property Management
In the late 1990’s, Dallas suburban development spilled over from the northern border of Plano and into neighboring Frisco, causing massive growth into the late 2000’s. According to U.S. Census Bureau data, Frisco was the fastest growing city in the nation from 2000 to 2009. And as of 2014, Frisco had seen a population growth of 243.54 percent.
The city provides a 30 minute drive to Downtown Dallas, 45 minute drive to Fort Worth, and is about 30 minutes from both the Dallas/Forth Worth International Airport and Dallas Love Field. It is considered a bedroom community for many professionals who work in the DFW Metroplex.
Frisco is also known for its incredible food, entertainment, arts, and culture. It is home to major sports centers such as the Dr Pepper Ballpark, Toyota Stadium, the Dr Pepper Arena, and the Dallas Cowboy’s corporate headquarters and training facilities.
If you’re looking to invest in real estate in Texas, Frisco is a fantastic long-term choice. The high median income, healthy (and growing) economy and attractive draws (like the school system and sports scene) make this affluent city a no-brainer for long-term investments.
Before you decide if Frisco, TX is right for you, do your research on the market. Know the property and tenant you’re going after, and find the pocket of the city that best suits your needs.
Once you’re ready to invest, you should consider partnering with a Frisco, TX property management company. Having a Frisco property management company handle all your tenant and maintenance issues can make for a better investment experience for you and a better living experience for your tenants.
Investment Properties in Frisco, TX
67% of households are married couples living together, and about half of households have children under the age of 18 living with them. Most residents of Frisco are high school graduates or GED, and 58.9% have a bachelor’s degree or higher.
If you’re looking for established families with a good income as your tenants, Frisco is the place to be. Renting a home in this high energy and exciting location is ideal for gaining top dollar for your real estate investment.
Frisco, TX is a wealthy suburb, one of the most in-demand locations in the Dallas Fort Worth area and the Best City For Young Families in Texas. Popular with urban professionals, it is an excellent investment option for those interested in Collin county property management. Easy access to Dallas, a bustling economy and a highly educated population are major draws for potential residents. Frisco has seen explosive growth in recent years and was named the fastest growing city in the nation from 2000 to 2009.
History of Frisco, TX
Frisco was established in the early 1900s. The St. Louis – San Francisco Railway was constructed through the area in 1902, and Frisco was built around one of the watering holes that catered to travelers. It sits along what used to be the Shawnee Trail (now Preston Road). This road was used for cattle drives as pioneers settled in the Dallas area, and is one of the oldest roads in Texas.
The town was originally called Emerson, but after being rejected by the US Post Office, they renamed the town Frisco City in 1904 to honor the town the railroad was founded in. As time passed, they shortened the name from Frisco City to the present name of Frisco.
Frisco remained an extremely small settlement until the 1960s, when the population quadrupled to a total of 1,184 citizens. It continued to grow steadily until the 1990s, when the population exploded to over 20,000 citizens over a seven-year period. Frisco has continued to exhibit explosive growth, growing over 330% since 2000, and today it stands as one of the most in-demand locales in the DFW area.
Population of Frisco, TX
As of 2014, Frisco, TX has a population of 128,205 citizens, up from 118,121 in 2010. The population is split evenly between genders, with 49.2% of the population being female and 50.4% being male.
It is more diverse than many Texas communities: 64.3% of the population is white, 12.4% is Hispanic, 11.5% is Asian and 8.3% is African American.
Frisco also boasts one of the most educated communities in Texas. It ranks in the top 5% statewide for college-educated adults.
It is home to some of the most successful citizens in the state. Because of the easy access to the major business hubs in Dallas, Frisco attracts a high number of young, successful professionals, ranking in the top 5% statewide for both Well-Paid Single Women and Well-Paid Single Men. The median resident age is 35.7 (slightly above the state average of 34 years old) and the median household income is $109,956, more than double the $51,704 median household income for Texas.
Frisco, TX Weather
The city enjoys 230 sunny days per year, which is a big draw for interested investors. The summers are hot and humid, with average summer temperatures around 96 degrees. Denton also experiences a decent amount of rain each year, with the average rainfall coming in at 29 inches.
Winters drop to the mid-30s, but snow is rare, with Frisco having only 3 inches of snowfall per year on average (compared to the national average of 37 inches).
Frisco, TX Education
Frisco has an excellent school system, making it hugely appealing to families looking to plant roots (and to investors looking to get into Frisco property management). The Frisco Independent School District (FISD) is one of the fastest growing in the nation. It serves Frisco and the surrounding areas of Little Elm, McKinney and Plano, as well as additional unincorporated areas of both Collin and Denton counties.
FISD has exploded in scale in recent years. The district has added 57 new schools since 1995, averaging between two and six new schools each year. In fact, no school district in the country grew more than FISD from the 1990-1991 school year through the 2010-2011 school year.
FISD has nearly 50,000 enrolled students and grows at a rate of approximately 3,000 students per year. Upon graduation, 90% of seniors go on to pursue some form of higher education.
FISD is made up of 38 elementary schools serving grades K through 5, 14 middle schools serving grades 6 through 8, and eight high schools serving grades 9 through 12. The school district is widely praised for its personalized approach to education; FISD’s mission is to “know every student by name and need”.
This personalized approach to education combined with the high rate of students going on to higher education is extremely attractive to potential buyers, and makes property management in Frisco, TX a solid choice for investors.
Buying Investment Property in Frisco, TX
Due to both the affluence of its residents and the strong economy, the prices of homes in Frisco, TX are significantly higher than in other areas of Texas. As of 2013, the estimated median home price in Frisco, TX was $278,400, which is nearly double the city’s median home price in 2000 ($156,000) and MORE than double the median home price in Texas, which in 2013 was $132,000.
Purchasing real estate in Frisco, while more expensive than in other areas of Texas, is a fantastic investment choice. The city’s explosive growth meant that housing prices will continue to rise and homes will appreciate in value faster than the national average. The highly educated population, excellent school system and low crime rate also make Frisco an attractive investment market. A resident’s chance of being a victim of a violent crime is less than a quarter of the average for the state of Texas. The chance of being a victim of property crime is just over half of the average for Texas.
The Frisco, TX Community
Frisco is home to a number of features that make it the ideal community. The city has a robust sports scene; football fans are an easy 45-minute drive away from AT&T Stadium, home of the Dallas Cowboys, and Frisco is the home of the Dallas Stars NHL Team.
The city is also well known for its wide availability of outdoor space. Frisco boasts 56 miles of hiking and biking trails, 43 parks and over 150 outdoor art installations.
Economy in Frisco, TX
Property management in Frisco, TX is also a fantastic choice for investors because of the booming economy. With an unemployment rate of 2.9%, Denton boasts rates of less than half the average national unemployment rate of 6.3%. Job growth over the next ten years is expected to be over 43%.
The city’s largest employer is the Frisco Independent School District, and nearly 19% of the city’s population is employed in the education sector. Other notable employers include T-Mobile, Conifer Health Solutions and Oracle Corporation.
The economy got a recent boost when the Dallas Cowboys relocated their world headquarters, nicknamed The Star, to Frisco in 2016. In addition to housing the Dallas Cowboys corporate team, The Star will bring in other large corporate players, creating a huge amount of new jobs in Frisco. One such corporate player, Bank of America, has already signed a deal to lease two floors of The Star, and plans to hire 200 locals to support their new office.
The insanely low unemployment rate and the promise of a significant amount of new jobs associated with the Dallas Cowboys World Headquarters just goes to show that the current economic boom in Frisco, TX is showing no signs of slowing down.
Other Noteworthy Facts About Frisco
Here are some other noteworthy facts about Frisco, TX:
- Since 2003, Frisco has been given the title of “Tree City USA” from the National Arbor Day Foundation. This designation is given to cities who meet specific environmental criteria and are publicly committed to preserving local trees.
- Frisco, TX has seen a recent increase in tourism; today, more than four million people visit the city each year.
Looking for Property Management in Frisco, TX?
Making an investment in real estate is a big commitment, and it’s important that you understand the market you’re going into. But when you are ready to take the leap, Frisco, TX offers an incredible investment opportunity.
If you have any questions about investing in the Frisco, TX area or are interested in partnering with a Frisco, TX property management company, please don’t hesitate to reach out to LEAP Property Management. Our client-centric approach and experience in managing properties in Frisco can be a huge asset to you throughout the real estate investment process. Contact us today to see how we can simplify your property management by filling out our form or calling 888-729-0622.