2016 Best Real Estate Markets: Texas Dominates; New Jersey, Connecticut The Worst

With more new homes being sold this past July than in nearly 10 years, according to a U.S. Census Bureau report, the personal-finance website WalletHub conducted an in-depth analysis of 2016’s Best Real-Estate Markets.

To help prospective home buyers find the most attractive housing markets, WalletHub’s analysts compared 300 U.S. cities across 16 key metrics. Our data set ranges from “median home-price appreciation” to “housing affordability” to “job growth rate.”

Best Real-Estate Markets Worst Real-Estate Markets
1 Frisco, TX 291 Baltimore, MD
2 McKinney, TX 292 Waterbury, CT
3 Richardson, TX 293 Hartford, CT
4 Murfreesboro, TN 294 Fall River, MA
5 Austin, TX 295 Flint, MI
6 Allen, TX 296 Cleveland, OH
7 Overland Park, KS 297 Elizabeth, NJ
8 Thornton, CO 298 Detroit, MI
9 Plano, TX 299 Paterson, NJ
10 Arvada, CO 300 Newark, NJ

Best vs. Worst

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  • San Mateo, Calif., has the lowest percentage of homes with negative equity, 1.9 percent, which is 27 times lower than in Hartford, Conn., the city with the highest, 51.2 percent.
  • Berkeley, Calif., has the lowest average number of days until a house is sold, 38, which is 4.9 times lower than in Paterson, N.J., the city with the highest, 186.
  • Simi Valley, Calif., has the lowest vacancy rate, 2.40 percent, which is 15.1 times lower than in Miami Beach, Fla., the city with the highest, 36.17 percent.
  • Detroit has the lowest home price as a percentage of income, 131 percent, which is 11.5 times lower than in Santa Monica, Calif., the city with the highest, 1,508 percent.
  • Austin, Texas, Lincoln, Nebr., and Livonia, Mich., have the lowest unemployment rate, 2.5 percent, which is 4.6 times lower than in Yuma, Ariz., the city with the highest, 11.4 percent.

 

Source: WalletHub
Best real estate markets