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

10. Port Richey, Fla.

Median listing price: $59,900
Comparably priced car: Cadillac CTS-V ($71,000)
Housing price change (year over year): -0.1%
Median household income: $31,016
Unemployment rate: 8.6%

Port Richey was clearly devastated by foreclosures, job losses and builders who overestimated demand for new homes. That’s evident in its whopping 24.7% vacant housing rate, which is more than twice the national average. Housing prices in the area have fallen 48% from their peak, according to Federal Housing Finance Agency (FHFA) data.

(iStock)

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

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