Categorized | Residential

America’s Five Worst Housing Markets Have Been Identified

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Although some cities in the United States have experienced gains in the real estate markets, the majority of cities have been in a serious decline. Some cities have finally shown signs of recovery, though others have continued to worsen regardless of any corrective measures that have been put into place. The following five cities have shown little signs of recovery, and may struggle for quite some time without serious intervention.

5. Baton Rouge, Louisiana

Faced with a high unemployment rate, Baton Rouge has struggled through the recession. Following Hurricane Katrina, many homes were built in the city, though the city has had a very difficult time filling those homes. They have both the eleventh worst and twelfth worst homeowner and rental vacancy rates respectively.

4. Atlanta, Georgia

Atlanta was once considered to be the hottest city in the United States with opportunities abound. However, the job market struggled terribly through the recession, with an unemployment rate above the national average. The city has the fourth highest homeowner vacancy rate in the nation.

3. Memphis, Tennessee

With an unemployment rate that exceeds the national average, Memphis, Tennessee has struggled though the recession more than most cities. With the ninth highest homeowner vacancy rate, and the eleventh highest rental vacancy rate in the United States, the city’s housing market remains incredible bleak.

2. Indianapolis, Indiana

Indianapolis has made significant attempts to solve its problem with abandoned properties and vacant rentals. However, the city government’s efforts have had little impact to positively change the situation. Foreclosures remain at alarmingly high rates, and there are no signs of hope that a change will soon come.

1. Tucson, Arizona

Tucson has the highest homeowner vacancy rate in the nation, and the sixth highest rental vacancy rate. Its homeowner vacancy rate has doubled in the past year, and demand continues to shrink.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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