It seems like demand for housing has just run out in some housing markets. While 18 of the top 20 housing markets have begun to improve, other places like Boston and Washington are holding steady. Foreclosures are high. We’re still trying to recover from the robo-signing scandal. More houses are on the brink of hitting the foreclosure market, sitting vacant. When talking about markets where the housing situation is worst, you’ll find cities that were being hit hard many years ago. Housing prices have been falling sharply, vacancy rates have risen consistently while the demand for housing decreases. These also tend to be large, older cities like Dayton, Detroit and Atlanta. But what, according to a study conducted by 24/7 Wall Street, are the ten worst?
10. Oklahoma City, OK – Vacancy rate of 5.2%, rental vacancy 9.6%, unemployment 4.9%
9. St. Louis, MO – Vacancy rate3.3%, rental vacancy 11.4%, unemployment 8.6%
8. Kansas City, MO – Vacancy rate 3.7%, rental vacancy 11%, unemployment 8.4%
7. Detroit, MI – Vacancy rate 2.4%, rental vacancy 17.2%, unemployment 11.6%
6. Dayton, OH – Vacancy rate 4.7%, rental vacancy 10.7%, unemployment 9.3%
5. Baton Rouge, LA – Vacancy rate 3.9%, rental vacancy 13%, unemployment 8.4%
4. Atlanta, GA – Vacancy rate 5.4%, rental vacancy 11.8%, unemployment 9.7%
3. Memphis, TN – Vacancy rate 4%, rental vacancy 13.5%, unemployment 10.1%
2. Indianapolis, IN – Vacancy rate 5.2%, rental vacancy 13.5%, unemployment 7.8%
1. Tucson, AZ – Vacancy rate 6.8%, rental vacancy 15.9%, unemployment 7.8%
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