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5 Most Unhealthy Housing Markets

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5 Most Unhealthy Housing Markets

Daily Real Estate News | Monday, August 08, 2011

While some housing markets are showing subtle signs of being on the path to stabilizing, some markets are still battling high foreclosures and seeing high vacancy rates in home ownership, as well as rentals.

24/7 Wall St. recently used Census data to analyze the 75 largest metro areas and rank them based on overall home owner and rental vacancy rates for the second quarter of 2011, as well as identify where housing demand has dropped the most.

Here are five metro areas that made it on 24/7 Wall St.’s “sickest housing” market list. 

Tucson, Ariz. 

Home owner vacancy rates: 6.8 percent (1st)

Rental vacancy rates: 15.9 percent (6th)

Total housing units: 440,909

Unemployment:7.8 percent

 

Indianapolis, Ind.

Home owner vacancy rates: 5.2 percent (5th)

Rental vacancy rates: 13.5 percent (10th)

Total housing units: 757,441

Unemployment: 7.8 percent

 

Memphis, Tenn.

Home owner vacancy rates: 4 percent (9th)

Rental vacancy rates: 13.5 percent (11th)

Total housing units: 550,896

Unemployment: 10.1 percent

 

Atlanta, Ga.

Home owner vacancy rates: 5.4 percent (4th)

Rental vacancy rates: 11.8 percent (17th)

Total housing units: 2,165,495

Unemployment: 9.7 percent

 

Baton Rouge, La.

Home owner vacancy rates: 3.9 percent (11th)

Rental vacancy rates: 13 percent (12th)

Total housing units: 329,729

Unemployment: 8.4 percent

 

View all 10 cities that made the “sickest housing markets” list at 24/7 Wall St. 

Source: “America’s 10 Sickest Housing Markets,” 247wallst.com (Aug. 5, 2011)