It is difficult at best to find a home in Frisco for under $150,000. Once you find it, it will have multiple offers on it before its first day ends on the MLS. Often, they are sold before they even make it onto the MLS! This is true for leases aht correspond to that purchase price - up to $1,500 a month. These are rare and if you find one it will fly off the shelf. You really need an agent to help you find one early in the cycle; or, hope you get lucky abd stumble onto one (which happens, I have seen it!).
Regardless of the hot market, let me tell you where affordable housing may be found in Frisco (and Frisco ISD).
You may have heard bad things about LIttle Elm, but there are some parts of Frisco that are a Little Elm address but Frisco ISD. Many of these are rising in price and moving rapidly toward $200K and above. I for one think these are excellent buys or leases if you can get one.
Kings Ridge, Preston Ridge, Preston Lakes and Preston Vineyards are the major neighborhoods that will occassionally have a home that is around $150K. It will be small - from 1,200 to 1,400 SF.
Close to Fisco, but not Frisco proper you have other possibilities: LIttle Elm, Savannah, Providence and McKinney. Although you are more likely to find something outlying Frisco, these too are being snatched up. You need to be totally prepared. If leasing, you need to have your application completed, copies of your Driver's license, and pay stubs to prove you make 3x the monthly rent. If buying you need to have pre-approval from a lender and enough money for the Earnest money (roughly 1% of the sales price) and option fee (can be most anything but generally not over $1,000. Expect $100-%500).
Here are some leasing resources for you to check out:
And here you can search for a home using my MLS account for free. All I ask is that you register.
I truly hopes this helps!
The Tomlin Team - Keller Williams