Frisco, Texas is a large, fast-developing suburb north of Dallas that draws buyers relocating for work and buyers looking for newer homes and planned communities. This guide covers what to expect when buying a home in Frisco, with a focus on the costs that affect your financing.
Why Frisco? A Snapshot
Prime Location
A northern Dallas suburb in Collin and Denton counties, with access to major highways
Major Employers
Home to corporate offices and sports and entertainment organizations
Growth
Frisco has grown rapidly over the past two decades
Schools
Most of the city is served by Frisco ISD. Check the Texas Education Agency for current campus ratings.
Understanding Frisco's Real Estate Market
Frisco's housing market is diverse, with townhomes, single-family homes and larger custom properties. Market conditions change over time, so ask a local real estate agent for recent sales, and get pre-approved before you start shopping so you know your budget.
Market Characteristics:
- • Home prices: Vary widely by neighborhood, home size and age; a local agent can share current sales data
- • Time on market: Varies with the season, price range and market conditions
- • New construction: Available in some master-planned communities
- • HOA communities: Many neighborhoods have HOAs with varying fees
Popular Frisco Neighborhoods
Frisco offers a variety of neighborhoods. These are general descriptions, not recommendations. Visit in person and confirm details such as fees, amenities and school zoning before you buy:
Starwood
Known for larger custom and luxury homes
Stonebriar
Established neighborhood near shopping and entertainment
Phillips Creek Ranch
Master-planned community with pools, trails and lakes
Richwoods
Neighborhood with community pool and clubhouse amenities
Frisco Lakes
Age-restricted 55+ community with Del Webb homes
Property Taxes in Frisco
One important factor for homebuyers to understand is Texas property taxes. Texas has no state income tax, but property taxes are higher than the national average.
💰 What to Expect
Your Frisco property tax bill combines several taxing entities. Each sets its own rate every year, so the total varies by property and by year. It can include:
- • Frisco ISD taxes
- • City of Frisco taxes
- • Collin or Denton County taxes, and Collin College where it applies
- • Special districts (MUDs, PIDs) in some newer areas
To estimate your taxes: multiply the home's assessed value by the combined rate published by the county appraisal district and each taxing entity, after any exemptions. A homestead exemption can lower the taxable value for school district taxes on your primary residence; check the Texas Comptroller for the current amount. Taxes are part of your monthly escrow payment and your debt-to-income ratio, so ask your loan officer to estimate them for the specific property.
HOA Considerations
Many Frisco neighborhoods have homeowners associations. Fees and what they cover vary widely, so ask for the HOA's fee schedule and rules before you make an offer. Communities with pools, clubhouses and fitness centers often charge more.
When budgeting for your home, factor in HOA fees along with your mortgage payment, taxes, and insurance to get a complete picture of your monthly housing costs.
Tips for Frisco Homebuyers
- 1.Get pre-approved early:
Knowing your budget before you shop helps you focus on homes you can afford, and a pre-approval can show sellers you're serious. It is not a commitment to lend.
- 2.Confirm school zoning:
Attendance zones can change. Confirm the zoning for any home you're considering directly with the school district.
- 3.Consider commute times:
Test your commute at the times you would actually travel.
- 4.Factor in all costs:
Remember to budget for property taxes, HOA fees, and Texas-sized utility bills.
- 5.Work with local experts:
A local lender and real estate agent understand the nuances of the Frisco market.
Nearby Cities to Consider
If you want to compare areas, these nearby cities are also worth a look:
- • Prosper
- • McKinney
- • Little Elm
- • The Colony
- • Allen
- • Celina
Ready to Make Frisco Home?
Talk to a local loan officer about your financing options for buying in Frisco.
Talk to a Local Expert