Plano (TX) vs Phoenix (AZ) vs Charlotte (NC) vs Tampa (FL)

[As Above So Below...]

Originally Posted by masssachoicetts

Thats insane. But I think technically Plano is with an average home price of 495k in Phoenix at 445k. Tampa is a bit lower, but you can spend almost $7k a year on home insurance there. You’re monthly mortgage payment would most likely be highest in Plano (property taxes), then Tampa, then Phoenix and finally Charlotte. All are pretty similar in prices though.

https://www.redfin.com/city/30868/TX...housing-market

Here is the problem with that: Phoenix is a massive sprawling city more comparable to Dallas than Plano. That average cost in Phoenix is going to include some extremely undesirable neighborhoods. Plano on the other hand doesn't really have undesirable neighborhoods. Some are better than others of course, but there is very little crime.

I doubt the OP is going to be interested in a place like the Southside of Phoenix. Plano has no neighborhoods comparable. So if you isolate areas of Phoenix like Plano, what youll get is a place like Desert Ridge or Scottsdale which have average home values in the $700s.

Naturally the reason Phoenix has become so expensive is the large number of people that settle there from California.

[masssachoicetts]

Originally Posted by As Above So Below...

Here is the problem with that: Phoenix is a massive sprawling city more comparable to Dallas than Plano. That average cost in Phoenix is going to include some extremely undesirable neighborhoods. Plano on the other hand doesn't really have undesirable neighborhoods. Some are better than others of course, but there is very little crime.

I doubt the OP is going to be interested in a place like the Southside of Phoenix. Plano has no neighborhoods comparable. So if you isolate areas of Phoenix like Plano, what youll get is a place like Desert Ridge or Scottsdale which have average home values in the $700s.

Naturally the reason Phoenix has become so expensive is the large number of people that settle there from California.

However, i am seeing homes in good parts of Phoenix that are 500-550 with the same estimated mortgage payment as a 475-500 home in Plano, or a 425-450 home in Tampa just due to taxes, insurance and fees.

You are right in that regard but when you iron out all the auxillary fees, your mortgage payment becomes about roughly the same.

But since OP is in financial services, Charlotte or Plano might be the safest guess.

[As Above So Below...]

Originally Posted by masssachoicetts

However, i am seeing homes in good parts of Phoenix that are 500-550 with the same estimated mortgage payment as a 475-500 home in Plano, or a 425-450 home in Tampa just due to taxes, insurance and fees.

You are right in that regard but when you iron out all the auxillary fees, your mortgage payment becomes about roughly the same.

But since OP is in financial services, Charlotte or Plano might be the safest guess.

Yeah, those are better for finance than Tampa or Phoenix.

[FL_Expert]

Originally Posted by tomadwood86

Wow this is so thorough, thank you! Actually, it's really helpful you know a lot about Charlotte because it's actually the only city on the list I'm not familiar with at all! (I've visited the other cities at least a handful of times each.) Below are some questions and follow-ups if you don't mind?

Charlotte:

• That's an awesome idea, to live in SC and commute to Charlotte for work. Will keep in mind

Tampa:

• I'm curious about the 5/5 rating for the economy in Tampa? I read that it's actually not a very diversified economy just yet.

Phoenix:

• I've been to Phoenix often and so am most familiar with it. I remember a time when it had super affordable housing (under 200k). Now it seems double that. Wondering how you got to 4/5 for affordability? On the flip side, I do think ASU is fantastic and would give it a 5/5. It's come a long way!

Plano:

• I think Plano had the cheapest housing costs on this list, but I also rank it low because of its lack of good universities nearby and the lack of a singles scene (everybody is married up early). However, I would agree it's got one of the strongest economies of all the cities on the list with all the corps having set up there. It would be easier to find another position elsewhere as a result.

Tampa is pretty diversified. All the tourism is in Pinellas County, which is a bit less diversified with the exception of St. Petersburg.

Originally Posted by tomadwood86

Financial Services. I myself am not in Finance but my specific role is one of those essential functions in any company, which is why it would be best for me to setup where there are lots of companies.

I’d eliminate Phoenix then and lean towards Plano. Just about all of the big banks have a presence in DFW and the Plano area in particular. I’m less familiar with Charlotte but understand it’s good as well.

Regarding Tampa, since that’s the one I’m most familiar with, I’d caution you some about the location. A few of the big banks are located on the east side of town, which is fine but I don’t find that side of town to be very interesting. Points west of downtown Tampa are much more desirable in my opinion. I would not want to move to Tampa to be stuck with the choice of living on the boring side of town or face a long commute.

[Johnhw222]

OP I am familiar with phx and plano. I’ve lived in Plano and don’t recognize the comments about it be sure yu are relying on facts not uninformed opinions to decide. Plano is very safe, has plenty to do and adds new jobs at a rapid cli which is important should you decide to hop again. I know chase recently completed a new campus in plano legacy west for 6k chase jobs. Plano has 4 seasons but winters are not brutal generally nor long.

[CLT4]

Originally Posted by tomadwood86

Financial Services. I myself am not in Finance but my specific role is one of those essential functions in any company, which is why it would be best for me to setup where there are lots of companies.

Charlotte and Plano for sure if your job is in financial services. I'd even give Charlotte a slight lean over Plano, just because the nature of the financial services jobs in Charlotte tend to more more senior / corporate versus operations like mortgage processing, collections, et.. Charlotte's also the only one on the list with two major Top 10 bank headquartered in the city (Bank of America and Truist) + the largest employment concentration for Wells Fargo + a variety of other firms where the jobs aren't just call center / ops:

Bank of America HQ
Truist HQ
Barings Capital HQ
Wells Fargo's largest corporate hub (~27,000 people)
Ally Bank's Corporate Center and largest employment site (~2,500 people)
Brighthouse Financial HQ
Dual HQ of LPL Financial
Lending Tree HQ
Red Ventures HQ (industry adjacent, owns Bankrate, The Points Guy, et)
Allspring Global Investments HQ
TIAA's largest employment hub (~3,800 people)

East Coast HQ:
Credit Karma
Dimensional Fund Advisors

Corporate positions / offices for:
US Bank (~1,200 employees)
FifthThird Bank
London Stock Exchange
Allstate
MetLife
AXA
Bank of London
Major Vanguard Campus (Phoenix also has one)
Synchrony Financial campus

I'm sure I' missing some as this is just some of the firms and HQs off the top of my head.

Plano and Phoenix will have corporate sites for banks like Bank of America and Wells Fargo as well, but none of them will trend towards having as large an exec presence / networking opportunities in financial services as Charlotte. Wells Fargo has 3 members of the C-Suite in Charlotte for example (Chief Technology, Chief Risk, and Head of DE&I), but none in Phoenix or Plano. You have multiple top level executives in financial services living in the metro. The DFW area is huge though and much bigger than Charlotte, so you'll also need to decide if you want to live in a mega metro or a mid-size metro. While Charles Schwab is the main financial services company officially headquartered in DFW, they have a variety of other jobs and are a Fortune 500 HQ powerhouse in multiple industries.

Based on the potential cities, is the placement with Bank of America? Those locations all sound like typical BofA cities.