After raising their children, many retirees in Plano are looking to downsize from their large single-family homes, and in recent years, there has been a noticeable increase in the number of families moving to condos or townhomes. Comparing areas within the same neighborhood, such as West Plano and the Legacy Corridor, makes this trend even clearer.

According to Zillow, the median home sale price in Plano was $540,000 in May 2026. By type, the average price for single-family homes was $519,000, condos were $275,000, and townhomes fell in between at around $385,000. Active listings decreased by 19.7% to 686, while 257 transactions were completed, marking a 10.8% increase from the previous year. Inventory stands at 3.2 months, indicating a seller's market.

Let's examine how single-family homes and townhomes differ within the same budget. With a budget in the $510,000 range, it is possible to find single-family homes in West Plano, but many families looking to reduce yard maintenance are turning to townhomes in the $380,000 range. In the Legacy Corridor area, there are more condos available, allowing buyers to find listings even in the $270,000 range due to proximity to workplaces.

The buyer demographic for condos in Plano tends to be distinct, including single professionals working in the Legacy Corridor, retirees downsizing from single-family homes, and investors looking at rental demand from nearby corporate campuses. Townhomes are widely chosen by busy professionals, families relocating, and those wanting a lifestyle similar to single-family homes without the yard maintenance.

HOA fees can vary significantly depending on when the community was built. Older neighborhoods developed before the 1990s often have low or no fees, while communities built afterward typically have more structured fees that cover amenities like gates, parks, and landscaping. When comparing listings, it's worth checking when the community was established.

When comparing school districts, the Plano Independent School District generally receives high ratings, leading many Korean families to check assigned schools when choosing both single-family homes and townhome communities. However, school district boundaries can change frequently, so it's advisable to verify the assigned school for a specific address using resources like GreatSchools before purchasing.

Families moving to Plano from other states should also consider Texas's unique property tax structure. While there is no state income tax, property tax rates are relatively high, so it's easy to overlook actual costs if only looking at the sale price when calculating monthly budgets. Condos and townhomes have lower sale prices, which reduces the absolute amount of property tax, but it's important to factor in that HOA fees can offset some of that difference.

Ultimately, in Plano, budget, time for maintenance, and the timing of downsizing appear to be the criteria that differentiate the three types of housing. Since market prices and HOA fees can change, it's wise to check the latest data before finalizing any contracts. This article does not constitute investment or legal advice, and consulting with real estate and tax professionals before making a contract is recommended.

Conditions in Plano can vary by area. In newly developed regions like the Legacy Corridor, there is a diverse supply of condos and townhomes, while older neighborhoods in West Plano still primarily consist of single-family homes, often with low or no HOA fees. It's beneficial to understand that even within Plano, the proportion of different types of listings and the structure of HOA fees can differ by area.

Single-family homes involve sole ownership of the land, with maintenance fully the owner's responsibility, while condos have the majority of the building's structure and exterior managed by the homeowners' association, which typically results in higher fees. Understanding this basic difference helps clarify why there is an increasing trend of retirees in Plano moving to condos or townhomes.

For investors looking for rental income, it's important not to overlook the differences in net yields by property type in Plano. Single-family homes require a larger initial investment but tend to hold their value well when reselling, while condos and townhomes have lower entry prices but incur fixed monthly HOA fees that must be considered to see actual net yields. Even in areas like the Legacy Corridor, where rental demand is steady, it's prudent to check the history of HOA fee increases.