Home >> Daily Dose >> Top 10 Worst Cities for Investors to Purchase a Home
Print This Post Print This Post

Top 10 Worst Cities for Investors to Purchase a Home

market-studiesHousing markets across the nation have seen some major growth in home prices and sales over the last two years, but there are some markets are still lagging behind.

A report from RoadSnacks noted that bad cities for homebuyers are "places that have bad economies. They are the places where the school systems are in bad shape. They’re the places where people are out of work, and where residents earn low salaries."

Low home prices, while they may seem attractive, is a definite sign of a "cool" housing market and shows that demand is little in that area. In addition, if the crime rate is elevated in a city, buyer will not want to invest there.

RoadSnacks ranked the worst places to live in America using FBI crime data, the government census, Bureau of Labor Statistics, and Sperling’s Best Places. In order to come up with the list the company measured population density, highest unemployment rates, adjusted median income, high housing vacancy rate, education, and crime rate.

Many of the worst housing markets in the U.S. are situated in Southern states, the data showed.

First on the list of worst cities to invest in a home is Macon, Georgia, which received an "F" grade. According to the report, the population for Macon is 91,604, crime is the 10th highest in the nation. In addition, the average home price is $54,300, home values are the 5th lowest in the nation, and the median household income is $33,051.

Jackson, Mississippi and Detroit, Michigan occupy the second and third spots on the list with D- grades, high crimes rates, and low home prices.

Here are the 10 worst cities to purchase to a home, according to RoadSnacks:

  1. Macon, Georgia
  2. Jackson, Mississippi
  3. Detroit, Michigan
  4. Knoxville, Tennessee
  5. Chattanooga, Tennessee
  6. Rockford, Illinois
  7. Savannah, Georgia
  8. Memphis, Tennessee
  9. Mobile, Alabama
  10. Springfield, Missouri

Click here to view the full report.

About Author: Staff Writer

x

Check Also

Wells Fargo Donates $40M in Efforts to Grow Diverse Housing Developers

The estimated $175 billion U.S. housing development market is known for high barriers to entry, ...

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.