House hunting

Surprising Central Texas city boasts No. 1 U.S. housing market for first-time buyers

This charming Killeen home is on the market for $249,500 - less than the median home price there.

Photo courtesy of Estately.com

Homebuyers looking to live outside of the bustling big city should turn their attention 150 miles northeast of San Antonio: Killeen has the best housing market in the country for first-time buyers, according to a new study by SmartAsset.

Killeen provides the three qualities potential homeowners prioritize the most: affordability, low competition, and growth potential, the report says. Median home prices there were sitting under $253,000 at the end of May, and the city has a one-year growth forecast of 7.4 percent.

"A home purchase can serve as a building block for the homeowner’s financial life – and the circumstances of the local market can make or break the deal," the report's author says. "First-time homebuyers may look for a less competitive market to have a better chance of getting a realistic offer accepted. They also need affordability to position themselves to grow their equity and a community within which to build a network."

Killeen is best known for its close proximity to Fort Cavazos (formerly Fort Hood), the third-largest military base in the country. SmartAsset says the Killeen-Temple-Fort Cavazos metro area also boasts a "reasonably young population," and cites the median income of a resident at $63,458.

Killeen's No. 1 ranking in 2023 is a major improvement over its No. 89 ranking in SmartAsset's 2022 report.

Texas cities dominated the top 10 in the report, with Waco, about 60 miles northeast of Killeen, earning No. 6 (Waco did not appear in the 2022 report). Other Texas housing markets that earned high-ranking spots include Wichita Falls (No. 2) in North Texas, and two Rio Grande Valley cities: McAllen (No. 3), and Brownsville (No. 8).

The top 10 best places for first time homebuyers are:

No. 1 – Killeen, Texas
No. 2 – Wichita Falls, Texas
No. 3 – McAllen, Texas
No. 4 – St. Joseph, Missouri
No. 5 – Cape Coral, Florida
No. 6 – Waco, Texas
No. 7 – Huntsville, Alabama
No. 8 – Brownsville, Texas
No. 9 – Green Bay, Wisconsin
No. 10 – Jackson, Tennessee

SmartAsset's study ranked 185 metro areas based on their affordability, growth potential, housing competition, and population.

reports SmartAsset killeen waco housing market

Take A Walk

New multifamily community opens near Stone Oak restaurants and shopping

Rendering courtesy of Greyson Luxury Living

The new community offers 291 units.

A new multifamily community is now open to prospective residents in San Antonio. Greyson Luxury Living comprises 291 units at 1734 N. Loop 1604 West, with a focus on lifestyle amenities. But the location will be the main draw for many.

Apartment floor plans range from one to three bedrooms, starting at $1,317 for one bedroom and one bathroom, and working up to a base price of $2,611 for three bedrooms and two baths. The community's pet policy according to the website is: "We welcome all your furry friends at Greyson."

Residents will get reserved parking and a garage with EV charging stations, but it might not always be necessary to hop in the car. The apartments are directly adjacent to restaurants like Cover 3, Eddie V's Prime Seafood, and Blü Prime Steakhouse — not exactly everyday eats, but there's tons more at the Vineyard Shopping Center and the Stone Oak neighborhood's Blanco Market Shopping Center across the highway.

In addition to restaurants, the community is less than a five-minute drive from H-E-B Plus, Whole Foods Market, Target, fashion and furniture stores, and multiple fitness studios like StretchLab and LA Fitness.

A press release promises wood-style flooring, quartz and granite countertops, and ceramic tile backsplash. On the more utilitarian side, it offers single-basin sinks, kitchen islands, "spacious" pantries, a stainless-steel Energy Star appliance package, and washer and dryer connections. (Images shared by the complex so far appear to be more illustrative of the desired vibe than the actual space.)

Every floor plan also shows a private patio or balcony. The most expensive floor plan — the three-by-two — has a wraparound outdoor space.

For shared spaces, a resort-style pool with a tanning shelf (a very shallow area for placing lounge chairs) and bike storage encourage residents to get outside, and a dog wash station makes it easy to leave dirt and hair outside of apartments. There's also a fitness center, a clubhouse with wi-fi, elevators, and concierge services.

“We developed Greyson as a luxury multifamily community aimed to fit any type of lifestyle, and we are grateful for all of our partners that helped bring this project to life,” says Ed Garahan, partner and CEO at Carbon Companies, the development firm heading the project.

Carbon Companies also sold the Addison Medical Center Apartments, Ventura Ridge, Triomphe Apartments, and Pecan Springs Luxury Apartment Homes, with more in the works in San Antonio.

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