66 Places to buy a Home in this Declining Market
According to MSN there are still areas that hold a potential profit if you decide to buy a house and hold it for some time in this market. Below is a table that forecasts out expected equity for homes in different cities (with the assumption that you hold on to it until 2012). Texas, New York and South Carolina seem to be the top winners with the most cities on the list. This is atlease a 4 year investment so don’t expect to flip and run…
How much equity you’d have by 2012 if you bought a low-priced home today…
| Metro area |
6% loan |
7% loan |
8% loan |
| McAllen-Edinburg-Mission, Texas |
$90,437 |
$89,871 |
$89,381 |
| San Antonio |
$90,017 |
$89,064 |
$88,239 |
| New Orleans-Metairie-Kenner, La. |
$88,907 |
$87,473 |
$86,232 |
| Houston-Sugar Land-Baytown, Texas |
$87,837 |
$86,703 |
$85,721 |
| Dallas-Fort Worth-Arlington, Texas |
$83,880 |
$82,669 |
$81,620 |
| Rochester, N.Y. |
$82,898 |
$81,898 |
$81,032 |
| Syracuse, N.Y. |
$80,231 |
$79,341 |
$78,571 |
| Buffalo-Niagara Falls, N.Y. |
$77,934 |
$77,045 |
$76,275 |
| Jackson, Miss. |
$77,648 |
$76,659 |
$75,804 |
| Austin-Round Rock, Texas |
$70,007 |
$68,530 |
$67,251 |
| Memphis, Tenn.-Mississippi-Arkansas * |
$68,348 |
$67,286 |
$66,367 |
| Baton Rouge, La. |
$61,802 |
$60,648 |
$59,651 |
| Pittsburgh |
$61,174 |
$60,221 |
$59,397 |
| Tulsa, Okla. |
$58,599 |
$57,624 |
$56,780 |
| Little Rock-North Little Rock-Conway, Ark. |
$58,420 |
$57,416 |
$56,548 |
| Augusta, Ga.-Richmond County, S.C. |
$57,424 |
$ 56,465 |
$55,636 |
| Lakeland, Fla. |
$56,960 |
$55,793 |
$54,784 |
| Columbia, S.C |
$55,993 |
$54,936 |
$54,022 |
| El Paso, Texas |
$55,100 |
$54,316 |
$53,637 |
| Akron, Ohio |
$54,594 |
$53,410 |
$52,387 |
| Greensboro-High Point, N.C. |
$54,592 |
$53,463 |
$52,485 |
| Oklahoma City |
$54,431 |
$53,475 |
$52,648 |
| Youngstown-Warren, Ohio-Boardman, Pa. |
$54,014 |
$53,176 |
$52,450 |
| Wichita, Kan. |
$53,684 |
$52,764 |
$51,968 |
| Dayton, Ohio |
$51,393 |
$50,327 |
$49,405 |
| Detroit-Warren-Livonia, Mich. |
$50,599 |
$49,241 |
$48,067 |
| Indianapolis-Carmel, Ind. |
$49,520 |
$48,330 |
$47,300 |
| Albany-Schenectady-Troy, N.Y. |
$49,104 |
$47,630 |
$46,355 |
| Omaha, Neb.-Council Bluffs, Iowa |
$47,823 |
$46,654 |
$45,643 |
| Birmingham-Hoover, Ala. |
$47,404 |
$46,276 |
$45,300 |
| Atlanta-Sandy Springs-Marietta, Ga. |
$46,314 |
$44,730 |
$43,360 |
| Scranton-Wilkes-Barre, Pa. |
$46,251 |
$45,254 |
$44,391 |
| Des Moines-West Des Moines, Iowa |
$46,078 |
$44,844 |
$43,776 |
| Kansas City, Mo.-Kansas City, Kan. |
$45,699 |
$44,413 |
$43,300 |
| Cleveland-Elyria-Mentor, Ohio |
$45,251 |
$44,025 |
$42,964 |
| Grand Rapids-Wyoming, Mich. |
$44,484 |
$43,304 |
$42,282 |
| Toledo, Ohio |
$44,009 |
$42,928 |
$41,992 |
| Tampa-St. Petersburg-Clearwater, Fla. |
$41,847 |
$40,237 |
$38,843 |
| Chattanooga, Tenn.-Georgia * |
$41,025 |
$39,955 |
$39,029 |
| Cincinnati-Middletown, Ind.-Kentucky * |
$40,454 |
$39,184 |
$38,086 |
| Greenville-Mauldin-Easley, S.C. |
$40,268 |
$39,169 |
$38,218 |
| Harrisburg-Carlisle, Pa. |
$37,456 |
$36,168 |
$35,054 |
| Portland-South Portland-Biddeford, Maine |
$37,197 |
$35,204 |
$33,479 |
| New Haven-Milford, Conn. |
$36,521 |
$34,284 |
$32,348 |
| Deltona-Daytona Beach-Ormond Beach, Fla. |
$36,217 |
$34,643 |
$33,281 |
| Charleston-North Charleston, S.C. |
$35,592 |
$34,062 |
$32,738 |
| Louisville-Jefferson County, Ky.-Indiana * |
$33,003 |
$31,809 |
$30,775 |
| St. Louis -Illinois * |
$32,933 |
$31,630 |
$30,503 |
| Sarasota-Bradenton-Venice, Fla. |
$31,544 |
$29,577 |
$27,875 |
| Charlotte-Gastonia, N.C.-Concord, S.C. |
$29,919 |
$28,524 |
$27,318 |
| Columbus, Ohio |
$28,982 |
$27,628 |
$26,457 |
| Albuquerque, N.M. |
$28,805 |
$27,356 |
$26,102 |
| Jacksonville, Fla. |
$26,832 |
$25,241 |
$23,863 |
| Nashville-Davidson-Murfreesboro-Franklin, Tenn. |
$26,567 |
$25,181 |
$23,982 |
| Knoxville, Tenn. |
$24,862 |
$23,663 |
$22,625 |
| Palm Bay-Melbourne-Titusville, Fla. |
$23,090 |
$21,467 |
$20,063 |
| Richmond, Va. |
$21,500 |
$19,740 |
$18,217 |
| Raleigh-Cary, N.C. |
$19,004 |
$17,386 |
$15,985 |
| Springfield, Mass. |
$16,338 |
$14,591 |
$13,079 |
| Philadelphia-Camden, N.J.-Wilmington, Del. -Maryland * |
$14,492 |
$12,532 |
$10,836 |
| Hartford-West Hartford-East Hartford, Conn. |
$13,494 |
$11,405 |
$9,598 |
| Allentown-Bethlehem, Pa.-Easton, N.J. |
$12,779 |
$11,063 |
$9,578 |
| Milwaukee-Waukesha-West Allis, Wis. |
$12,745 |
$11,076 |
$9,632 |
| Virginia Beach-Norfolk-Newport News, Va.-North Carolina * |
$10,449 |
$8,515 |
$6,842 |
| Orlando-Kissimmee, Fla. |
$9,400 |
$7,433 |
$5,730 |
| Colorado Springs, Colo. |
$4,482 |
$2,736 |
$1,224 |
Source: Center for Economic and Policy Research and the National Low Income Housing Coalition
* Metropolitan area extends across state borders
Read the whole article from MSN Money. You can also email our Customer Support or call at 1-800-881-1479 if you are interested in finding an top ranked Realtor in any of these areas.
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