What $400,000 Buys You in Dallas vs. Plano, Frisco, and McKinney

By Steven Thomas – Refind Realty

If you’re shopping for a home in North Texas with a $400,000 budget, your options will look very different depending on the city. Whether you're considering Dallas, Plano, Frisco, or McKinney, each market offers a unique blend of home size, amenities, and lifestyle.

Let’s break down exactly what you get for your money in each of these areas so you can make the smartest move for your next home.

Why $400K Is a Key Price Point in North Texas

In 2024 and heading into 2025, $400,000 is considered a mid-tier budget in most of DFW. It’s above entry-level, but below luxury pricing. With that kind of budget, you're likely looking for:

• A move-in-ready home with 3-4 bedrooms

• Modern finishes or recent upgrades

• A good neighborhood near schools, parks, and shopping

• Lower-maintenance or newer construction

But depending on where you’re buying, that same $400K might stretch far—or fall short.

1. Dallas: Location Over Lot Size

What $400K Buys You in Dallas:

• ~1,600 to 2,000 sq ft

• 2–3 beds, 2 baths

• Likely built pre-1990s with some updates

• Smaller lot sizes, average curb appeal

• Closer to downtown or trendy neighborhoods like Oak Cliff or East Dallas

You’re paying for proximity. In Dallas, a $400K budget often gets you into neighborhoods with strong walkability, culture, and restaurants. But homes may be older, with smaller footprints, and fewer high-end finishes.

Pros: Central location, established neighborhoods, easier resale
Cons: Less space, older systems, higher property taxes in some ZIPs

2. Plano: Suburban Comfort and School Ratings

What $400K Buys You in Plano:

• ~1,800 to 2,300 sq ft

• 3–4 beds, 2.5 baths

• Built between 1990–2005

• Well-kept HOAs, mature trees, larger lots

• Access to top-rated Plano ISD schools

Plano homes at this price point are usually in established neighborhoods. You’ll find upgrades like wood floors, granite counters, and maybe a pool or nice patio. The city has excellent parks, retail, and proximity to major employers.

Pros: Quality schools, great infrastructure, larger homes
Cons: Older builds compared to Frisco/McKinney, rising competition

3. Frisco: Newer Builds, Master-Planned Perks

What $400K Buys You in Frisco:

• ~2,000 to 2,400 sq ft

• 3–4 beds, 2–3 baths

• Built post-2015, often with energy-efficient systems

• Located in large master-planned communities with amenities

• HOA fees often apply, but include pools, trails, and rec centers

Frisco is booming, and for good reason. A $400,000 budget can still get you into neighborhoods like Panther Creek, Miramonte, or parts of East Frisco. Expect modern layouts, smart home features, and builder warranties.

Pros: Newer homes, strong appreciation, top schools
Cons: Smaller lots, farther commute to central Dallas

4. McKinney: Value, Charm, and Community

What $400K Buys You in McKinney:

• ~2,200 to 2,600 sq ft

• 4 beds, 2–3 baths

• Built between 2010–2020

• Family-friendly layouts with open kitchens and larger yards

• Access to McKinney ISD or Prosper ISD in some zones

McKinney offers serious value. For $400K, you’re likely to find a newer home with space to grow, especially north of 380. The historic downtown also adds character and local charm.

Pros: More space, newer finishes, quieter lifestyle
Cons: Farther from central DFW, fewer big-city perks

Real Comparisons at a Glance

City Sq Ft Range Year Built Bedrooms School District Dallas 1,600–2,000 1960s–1990s 2–3 Dallas ISD Plano 1,800–2,300 1990–2005 3–4 Plano ISD Frisco 2,000–2,400 2015–2023 3–4 Frisco ISD McKinney 2,200–2,600 2010–2020 4 McKinney or Prosper ISD

So, Where Should You Buy?

That depends on your lifestyle.

Choose Dallas if you want a walkable city vibe and don’t mind doing updates.
Choose Plano for schools, shopping, and quiet stability.
Choose Frisco for new builds and HOA amenities.
Choose McKinney for more space, charm, and long-term value.

As someone who’s worked with hundreds of buyers across all these markets, I can help you prioritize what matters most and match it to the best fit.

Ready to Start Your Search?

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FAQs: Buying in DFW with a $400K Budget

1. Is $400K enough to buy a home in Frisco, TX?

Yes, but you'll likely need to focus on homes under 2,400 sq ft or slightly older builds. New construction under $400K is getting rare.

2. Which city has the best schools for this budget?

Plano and Frisco consistently rank high. McKinney also offers excellent options, especially if you fall into Prosper ISD zones.

3. Can I buy a new home for $400K in Dallas?

New builds in Dallas under $400K are rare. Most options at this price will be updated older homes or townhomes.

4. What’s the property tax difference in these cities?

Dallas and Frisco often have higher effective tax rates than McKinney and Plano. Always compare by ZIP code.

5. Which city gives me the most square footage for the price?

McKinney generally offers the best price per square foot.

6. Where’s the best resale value?

Frisco and Plano tend to see the highest appreciation, though McKinney is catching up quickly.