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
- 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.