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Tuesday, April 23, 2024

9 Illinois cities among the 50 worst U.S. housing markets, study finds

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Nine Illinois cities earned spots on a ranking of the U.S. housing markets suffering most from high foreclosure rates and low or negative price changes, according to the personal finance website GOBankingRates.

Those cities are Peoria, Champaign, Elgin, Aurora, Plainfield, Decatur, Chicago, Joliet and Rockford. The analysis, which examined foreclosure rates and changes in home values during one- and two-year periods, found that 36 of the listed cities are located in four states: Louisiana, Illinois, California and Texas.

Peoria, which occupies the No. 12 spot, posted an average home value in July of $89,001, according to GOBankingRates. And average home values in the city declined 0.19 percent over two years, the report said. One in every 4,159 homes in Peoria is in foreclosure, according to the analysis.

At No. 40, Chicago had an average home value of $232,722 in July, with one in every 9,796 homes in foreclosure, GOBankingRates found.

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50 Worst U.S. Housing Markets

RankHousing MarketJuly 2020 Home Value1-year Price Change2-year Price ChangeForeclosure Rate
1Jackson, Miss.$40,024-8.92%-9.95%1 per 5,004 homes
2Longview, Texas$155,139-9.90%-2.91%1 per 5,158 homes
3Redwood City, Calif.$1,677,126-1.04%-5.20%1 per 6,529 homes
4San Mateo, Calif.$1,562,690-0.65%-6.09%1 per 10,118 homes
5Fremont, Calif.$1,139,622-1.09%-4.79%1 per 10,811 homes
6Laredo, Texas$159,321-4.31%-1.79%1 per 5,296 homes
7Santa Rosa, Calif.$608,7520.13%-4.82%1 per 3,893 homes
8Lake Charles, La.$179,930-1.23%-1.74%1 per 4,148 homes
9Stamford, Conn.$579,399-0.67%-1.18%1 per 5,268 homes
10Albany, Ga.$88,190-1.38%1.74%1 per 4,323 homes
11Edison, N.J.$407,257-0.36%-0.62%1 per 8,168 homes
12Peoria, Ill.$89,0010.87%-0.19%1 per 4,159 homes
13New Orleans$224,2931.46%-0.22%1 per 3,739 homes
14Baltimore$153,2790.57%3.51%1 per 2,816 homes
15Irvine, Calif.$1,043,1050.35%-0.26%1 per 6,172 homes
16Champaign, Ill.$150,6662.33%4.67%1 per 2,093 homes
17Baton Rouge, La.$193,5581.73%-0.71%1 per 5,878 homes
18Monroe, La.$117,9160.77%1.28%1 per 6,576 homes
19Richmond, Calif.$585,9650.21%2.80%1 per 4,239 homes
20San Francisco$1,484,1770.48%-0.16%1 per 10,441 homes
21Elgin, Ill.$217,0060.72%4.08%1 per 4,157 homes
22Aurora, Ill.$199,3870.92%3.09%1 per 5,632 homes
23Bryan, Texas$191,9490.49%4.71%1 per 4,720 homes
24Lafayette, La.$179,0841.45%0.82%1 per 12,054 homes
25Plano, Texas$351,6611.28%0.57%1 per 11,274 homes
26Lakewood Township, N.J.$413,3301.16%0.43%1 per 13,056 homes
27Sugar Land, Texas$318,9021.25%1.23%1 per 11,118 homes
28Williamsburg, Va.$338,4461.30%2.59%1 per 7,018 homes
29Delray Beach, Fla.$359,7972.36%4.50%1 per 3,305 homes
30Newark, Del.$262,1613.45%4.85%1 per 2,760 homes
31Tracy, Calif.$535,9831.75%3.45%1 per 4,460 homes
32Georgetown, Texas$329,3350.84%4.26%1 per 11,428 homes
33Shreveport, La.$108,4604.26%2.18%1 per 5,637 homes
34Wilmington, Del.$220,5292.27%4.35%1 per 5,503 homes
35Vallejo, Calif.$446,5732.00%3.47%1 per 5,116 homes
36Albany, N.Y.$189,9661.71%4.98%1 per 7,236 homes
37Conroe, Texas$235,0972.13%5.88%1 per 4,423 homes
38Plainfield, Ill.$256,8142.06%4.69%1 per 5,904 homes
39Decatur, Ill.$78,3502.48%4.08%1 per 11,022 homes
40Chicago$232,7222.01%3.74%1 per 9,796 homes
41Round Rock, Texas$311,624-0.17%6.65%1 per 15,143 homes
42Cedar Rapids, Iowa$157,6432.59%6.34%1 per 4,165 homes
43Annapolis, Md.$476,6152.04%1.55%1 per 14,146 homes
44San Angelo, Texas$143,5112.23%5.68%1 per 6,910 homes
45Joliet, Ill.$154,1292.49%6.61%1 per 4,666 homes
46College Station, Texas$259,8943.20%5.99%1 per 3,337 homes
47Amarillo, Texas$139,1342.06%4.72%1 per 13,183 homes
48Fairfield, Calif.$484,0572.24%3.83%1 per 5,413 homes
49Charleston, S.C.$347,3382.53%3.95%1 per 7,049 homes
50Rockford, Ill.$96,0542.87%8.41%1 per 4,096 homes
Source: GOBankingRates.com

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