Ranking of US cities by the amount of empty houses reveals a bleak real estate picture. 4 Florida Cities…
Ranking of US cities by the amount of empty houses reveals a bleak real estate picture.
Florida cities are in the top ten, indicating a clear gap between the economic ability to buy / rent and the available inventory. Another top ten: Las Vegas and one of the largest cities in Southern California.
The housing crisis affecting major cities in the United States is nothing new, but there are cities where homes sit vacant for many reasons. The LendingTree site, which specializes in linking potential buyers with lenders, ranked cities by the amount of available homes for rent or purchase.
It is important to clarify that there are many reasons why different homes and housing units remain vacant. One of the main reasons, according to LendingTree, is the high prices in the country's major real estate markets.
The first place on the list can be found in Miami (Florida) with 428,255 empty houses (17.09% from 2,505,963 homes in the city). The median price of a house, 236,500 dollars, is the highest in the first quintile.
After Miami stands Orlando (Florida), where 15.93% (158,569 out of 995,591) of the homes remain without occupants. An hour-and-a-half west direction along Route 4 will take you to the next town on the list, Tampa, where 15.25% (212,545 of 1,393,313) homes remain vacant. In these two cities, the median price of a home is $ 180,100 and $ 162,600, respectively.
Only fourth place in the list is the first city outside of Florida, and is Las Vegas. 14.56% of 877,617 The houses in Sin City are not currently in use, and the median price in the city stands at 212,300 USD.
In fifth place is Birmingham (Alabama), where 13.92% of the 511,456 homes are empty. With a median price of $ 152,200, this is the second cheapest market in the top ten. After Birmingham stands Jacksonville, also in Florida, with 83,669 vacant homes (13.37% of the city's 625,888 homes).
The seventh place is New Orleans (Louisiana), where the median price of a house stands at $ 184,100. Despite the relatively low price, 13.32% of the 554,706 town houses are empty.
Quite surprisingly, given the housing shortage in Southern California, Eighth is Riverside, a city east of Los Angeles. The median price of a home is $ 293,800 (the highest price in the top ten), which may explain why 13.21%, or 202,238 unmanned homes.
After Riverside you can find Phoenix (Arizona), where 13.13% (245,368 houses) are empty of tenants. The first ten are Memphis (Tennessee), where 12.43 (70,358) of the houses are still empty despite the fact that the median price of a house in the city stands at only 138,200 dollars, the lowest amount in the top ten.
New York was ranked 23rd on the list with 9.45% (748,291) empty homes. A median price of $ 413,200 might explain the worrying figure. Los Angeles was ranked 44th with 5.85% of homes not occupied. The median price in the city is $ 537, so you can understand why about 268 homes remain empty.
After Los Angeles stands San Francisco, where the housing market is considered one of the most expensive in the world. This is reflected in a median price of $ 716,500. Of the 1.7 million homes in the city, 100 (5.61%) are uninhabited.
Published in hebrewnews
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Yosi Bet-Yosef
The list here - https://thinkrealty.com/top-10-metros-highest-vacancy-rates/
exciting!!
Very interesting… Can I link to the article? I wonder where Dallas is focused on the list
There is also the significance of whether these houses are concentrated in certain areas or scattered throughout the city, what their condition and the like.
Ronny got sick