Top 10 US Cities for Foreclosures
Detroit is the worst city to live in, according to recent top rankings for foreclosures released by WalletHub. Considering the factors the list takes into account, it’s also likely the worse place to invest, too.
In determining its foreclosures rankings, WalletHub considered 50 metrics under five categories—affordability, safety, education/health, economy, and quality of life. With the lowest number of weekly work hours, a large percentage of residents below the poverty line, and the worst-ranked economy on the list, it’s no surprise Detroit is currently in the midst of a foreclosure crisis. More than 160,000 Detroit homes have been foreclosed on since 2002 alone.
But Detroit wasn’t the only city to rank high on WalletHub’s worst list. Other cities with conditions prime for foreclosure include Long Beach, California, and Miami, where housing costs were the highest out of all cities on the list. Miami ranked low on affordability, economy, education/health, and safety; the only metric is ranked highly on was quality of life, where it took the No. 12 spot.