The City No One Wants Io Move To

Submitted by ub on Sat, 02/11/2012 - 17:01

NEWARK is the largest city in New Jersey, with a population of 277,140. Newark's property values were among the first ones to peak, hitting their highest point in the first quarter of 2006. Since then home prices have fallen modestly, which has kept prices high.

The $400,000 median home price in this area is the 10th highest in the country. The bleeding out of residents may stop in the coming year as home prices are predicted to drop 4.8% through the end of this year.

MSA: Newark-Union, N.J.-Penn.
Metro movers ratio: 3.65
Home value decline from peak: -24.7%
Unemployment: 8.9%