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America's Emptiest Cities

Phoenix, Ariz.

Home Vacancy Rate: 3.4 percent

Apartment Vacancy Rate: 15.5 percent

The unemployment rate is below the national average at 8.4 percent, but Phoenix still suffers from an overbuilding hangover, with more than 20,000 apartments vacant. A positive sign: Jobs in the city's construction sector have begun to rise after taking a severe hit in the recession.

(David Liu/iStock Photo)

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