Evaluating text-to-image synthesis is challenging due to misalignment between established metrics and human preferences. We propose cFreD, a metric based on the notion of Conditional Fr\'echet Distance that explicitly accounts for both visual fidelity and text-prompt alignment. Existing metrics such as Inception Score (IS), Fr\'echet Inception Distance (FID) and CLIPScore assess either image quality or image-text alignment but not both which limits their correlation with human preferences. Scoring models explicitly trained to replicate human preferences require constant updates and may not generalize to novel generation techniques or out-of-domain inputs. Through extensive experiments across multiple recently proposed text-to-image models and diverse prompt datasets, we demonstrate that cFreD exhibits a higher correlation with human judgments compared to statistical metrics, including metrics trained with human preferences. Our findings validate cFreD as a robust, future-proof metric for the systematic evaluation of text-to-image models, standardizing benchmarking in this rapidly evolving field. We release our evaluation toolkit and benchmark in the appendix.