Come here often? Make XFINITY.com your homepage » close

close

Your XFINITY Connect session has timed out due to inactivity. Click here to go back close

24/7 Wall St.: Cities Where Homes Cost Less Than a Car

1. Detroit, Mich.

Median listing price: $21,000
Comparably priced car: Chevy Malibu ($21,000)
Housing price change (year over year): 5.2%
Median household income: $29,447
Unemployment: 9.9%

Detroit’s leaders are committed to reducing spending and creating a more livable and prosperous city for families and businesses of all sizes. The local automotive economy is improving, especially as Chrysler stages a comeback from its near-death experience. Some may interpret a year-over-year housing price increase as a positive sign for Detroit’s future. But unkind economists might call it a dead-cat bounce. Unemployment is not merely high, population is decreasing, and in 2010, one-in-five homes were vacant. Long term, that’s a lot of downward pressure on housing prices.

(iStock)

More From 24/7 Wall St.:
Fastest-Growing Cities in America
America's Sickest Housing Markets
Best Cities for Millennials



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

Ad Info - Ad Feedback

Ad Info - Ad Feedback

Loading...