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The 15 Worst Housing Markets For The Next Five Years
Housing has turned the corner and is said to be a bright spot in the U.S. economy.
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But national home prices are expected to climb just 3.3 percent in the next five years, according to the latest data from Fiserv Case-Shiller.
Earlier this week we put together a list of the 15 best housing markets for the next five years that will see home prices rise at a much faster pace.
Today, we're following it up with a feature on the 15 housing markets that are projected to see the most declines or the slowest growth in home prices.
Note: The median family income and home price data is for Q1 2012. Unemployment data is for May 2012, and population data is for 2011.
Annualized expected growth from 2012 - 2017: +1.8 percent
Home prices in the Crestview-Fort Walton Beach-Destin metro area have declined 38.4 percent since their Q4 2005 peak, and it has a median home price of $195,000.
It has a population of 183,482, an unemployment rate of 6.2 percent, and a family income $62,400.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.7 percent
Amarillo has a median home price of $137,000 and a median family income of $62,200. It also has a population of 253,823, an unemployment rate of 5.0 percent.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.7 percent
The Nashville-Davidson--Murfreesboro-Franklin metro area has a median home price of $152,000 that is down 8.1 percent from Q2 2007.
It has a population of 1.6 million, an unemployment rate of 7.3 percent, and a median family income of $61,400.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.7 percent
Ithaca has a median home price of $177,000 that is down 1 percent from Q4 2009.
It has a population of 101,723, an unemployment rate of 6.7 percent, and a median family income of $80,900.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.6 percent
The Washington-Arlington-Alexandria metro has a median home price of $369,000, down 26.3 percent from its Q1 2006 peak.
It has a population of about 4.5 million, an unemployment rate of 5.6 percent, and a median family income of $104,100.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.5 percent
Ann Arbor has a median home price of $155,000, down 24.4 percent from its Q4 2005 peak.
It has a population of 347,962, an unemployment rate of 5.6 percent, and a median family income of $83,200.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.4 percent
The Clarksville metro area has a median home price of $139,000, above the national median of $181,000.
It has a population of 277,701, an unemployment rate of 9.0 percent, and a median family income of $52,100.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.4 percent
The Atlantic City-Hammonton metro area has a median home price of $205,000, above the national median of $181,000. And its home prices are 34.1 percent lower than they were during their peak in the second quarter of 2006.
It has a population of 274,338, an unemployment rate of 13.5 percent, much higher than the national average of 8.1 percent, and a median family income of $64,200 above the national median of $62,900.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.3 percent
The Denver-Aurora-Broomfield has seen home prices fall 7.4 percent since they peaked in Q1 2006, and now has a median home price of $270,000.
It has a population of about 2.6 million, an unemployment rate of 8.2 percent and a median family income of $75,300.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.3 percent
Elmira has a median home price of $84,000 far below the national median of $181,000.
It has a population of 88,840, an unemployment rate of 9.7 percent and a median family income of $58,000, below the national median of $62,900.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.2 percent
The Midland metro area has a median family income of $64,800, a population of 140,308, and an unemployment rate of 3.8 percent.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +1.1 percent
The Phoenix-Mesa-Glendale metro area has a median home price of $164,000 and home prices are 49.8 percent off their Q2 2006 peak.
It has a population of 4.26 million, an unemployment rate of 7.3 percent a median family income of $59,400.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: +0.9 percent
Naples-Marco Island home prices are down 51.1 percent since their Q1 2006 peak.
The metro has a population of 328,134, an 8.4 percent unemployment rate, median home price of $265,000 and a median family income of $64,000.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: -0.2 percent
Home prices in the Fort Lauderdale-Pompano Beach-Deerfield Beach metro area have fallen 46.6 percent since their Q2 2006 peak.
The median home price is $215,000, above the national median, and median income is $60,100 below the national median. It has a population of about 1.8 million and an unemployment rate of 7.8 percent.
Data provided by Fiserv Case Shiller Indexes
Annualized expected growth from 2012 - 2017: -0.6 percent
Miami-Miami Beach-Kendall home prices are 50.4 percent off their Q1 2007 peak, and the metro has a median home price of $196,000.
It has a population of 2.5 million people, an unemployment rate of 9.2 percent, and a median family income of $47,700 below the national median.
Data provided by Fiserv Case Shiller Indexes
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