Commute Time vs Home Price

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By Walter Bialas

As we continue to look at the rapid growth of our northern suburbs, we realized that a dramatic pricing spread exists for homes between the Legacy area and the heart of Richardson-Plano. In some ways, this is not a surprise. The six or seven zip codes around the core of Legacy are mostly newer homes, whereas much of the stock around Richardson-Plano was developed back in the 1970s.

Still, even though the size, vintage, and finish of the homes in these two areas are different, the $140,000 spread in the median price is significant and directly impacts affordability. As we look at traffic increasing in the northern suburbs due to job expansion around Legacy, these “affordability” differences will become more important in attracting employees within an easy commute – as well as companies choosing new or recommitting to existing business locations to be close the appropriate work force and skill set.

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