The 10 healthiest housing markets in the U.S. are mainly located in Texas and the Northeast. Topping the list of healthiest markets is Boston, followed by Oklahoma City, San Antonio, northern New Jersey and Hartford, Connecticut, according to a recent WalletHub report.

Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers.


Takeaways:

  • WalletHub examined 10 metrics in 25 markets to ascertain market health.
  • Boston was the healthiest housing market; Oklahoma City, San Antonio, northern New Jersey and Hartford, Connecticut, were also healthy.
  • Las Vegas was the least healthy; other unhealthy markets include Tampa-St. Petersburg, Florida; Orlando; Tucson, Arizona; and Minneapolis-St. Paul.

The 10 healthiest housing markets in the U.S. are mainly located in Texas and the Northeast.

cdrin / Shutterstock.com

cdrin / Shutterstock.com

Topping the list of healthiest markets is Boston, followed by Oklahoma City, San Antonio, northern New Jersey and Hartford, Connecticut, according to a recent WalletHub report.

Austin, New York City, Rochester (New York), Philadelphia and Houston comprised the list of fifth to 10th healthiest housing markets.

To determine the “health” of 25 large metros, WalletHub examined 10 metrics:

  • Equity levels
  • Underwater mortgages
  • “Precarious” mortgages
  • Down payment percentages
  • Remaining time until financial freedom
  • Mortgage costs
  • “Easy” mortgages
  • First-time homebuyer assistance
  • Access to financing

Boston, the nation’s healthiest market, has the smallest percentage of easy mortgages (9.25 percent), the lowest mortgage cost (4.23 percent) and the lowest percentage of precarious mortgages (5.46 percent) — which are defined as those having between zero and 10 percent equity.

The market boasts the second-highest equity level (43 percent) — equity as a percentage of a home’s value. New York City ranked at the top when it came to equity level at 47 percent.

Beantown also has the second-lowest percentage of underwater mortgages (6.67 percent), only outdone by Rochester (6.13 percent), and it is one of the best markets in terms of access to home equity lines of credit.

Source: WalletHub

 

Of the 25 markets examined, Las Vegas was cited as the unhealthiest metro for housing. Other unhealthy markets include Tampa-St. Petersburg, Florida; Orlando; Tucson, Arizona; and Minneapolis-St. Paul.

Sin City is the worst-performing market when it comes to equity level and underwater mortgages. Equity as a percentage of a home’s value sat at 12 percent in Las Vegas. Of all mortgages, 38.5 percent are underwater in the market.

Las Vegas also has one of the highest percentages of “easy” mortgages at nearly 16.8 percent and is a difficult market in which to obtain access to home equity lines of credit.

Tampa and Orlando have the highest percentage of easy mortgages, at 24 percent and 20.5 percent, respectively. Orlando is one of the worst-performing markets when it comes to equity level (21 percent), percentage of underwater mortgages (32.2 percent) and access to lump-sum home equity loans.

Email Erik Pisor.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription