Study: Flint, Detroit among cities with unhealthy housing market - WNEM TV 5

Study: Flint, Detroit among cities with unhealthy housing market

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Source: WalletHub
FLINT, MI (WNEM) -

The housing market is the healthiest it has been since 2001, but that’s not the case for one Mid-Michigan city, according to a new study.

The WalletHub study compared 300 U.S. cities on different aspects including median home-price appreciation and unemployment rate.

Flint was ranked 300, making it the city with the least healthy housing market out of the cities in the study.

The Vehicle City ranked 300 for real-estate market and 186 for affordability and economic environment, according to the study.

Flint was also at the bottom of the list for other key metrics used in the study. The city had the second highest percentage of homes with negative equity and the second lowest median home-price appreciation.

Detroit had the lowest median home-price appreciation. Detroit also had the lowest number of unsold homes owned by banks.

The two cities also had the lowest home price as a percent of income, according to the study. Flint was ranked No. 1 and Detroit was No. 2.

Other cities in Michigan that made the list include Ann Arbor (68), Sterling Heights (125), Livonia (136), Grand Rapids (158), Lansing (210), Warren (223), Dearborn (231), and Detroit (293).

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