Forbes.com has the list of The Worst Neighborhoods to Buy a Home based on thier appreciation (or lack thereof) over the last 2 years. Here is the top (or bottom) 10:
1. St. Louis, Mo.
ZIP Code: 63143
Neighborhood: Maplewood/Richmond Heights
2005 Median Sales Price: $133,100
Total Price Appreciation 2003 to 2005: -28.1%
2. Phoenix, Ariz.
ZIP Code: 85054
Neighborhood: Desert Ridge/Montage
2005 Median Sales Price: $289,950
Total Price Appreciation 2003 to 2005: -22.3%3. Chicago, Ill.
ZIP Code: 60611
Neighborhood: Near North Side/Gold Coast
2005 Median Sales Price: $350,000
Total Price Appreciation 2003 to 2005: -20.5%4. Houston, Texas
ZIP Code: 77056
Neighborhood: Tanglewood
2005 Median Sales Price: $335,160
Total Price Appreciation 2003 to 2005: -16.8%5. Minneapolis-St. Paul, Minn.
ZIP Code: 55129
Neighborhood/Area: Woodbury
2005 Median Sales Price: $274,900
Total Price Appreciation 2003 to 2005: -16.2%6. Dallas, Texas
ZIP Code: 75212
Neighborhood: Oak Cliff
2005 Median Sales Price: $96,093
Total Price Appreciation 2003 to 2005: -14.6%7. Boston, Mass.
ZIP Code: 02120
Neighborhood: Mission Hill
2005 Median Sales Price: $412,750
Total Price Appreciation 2003 to 2005: -14%8. Atlanta, Ga.
ZIP Code: 30305
Neighborhood: Buckhead/Tuxedo Park
2005 Median Sales Price: $274,650
Total Price Appreciation 2003 to 2005: -13.6%9. New York, N.Y.
ZIP Code: 10069
Neighborhood: Upper West Side
2005 Median Sales Price: $980,000
Total Price Appreciation 2003 to 2005: -11.3%10. Philadelphia, Penn.
ZIP Code: 19133
Neighborhood: Kensington/North Central
2005 Median Sales Price: $34,500
Total Price Appreciation 2003 to 2005: -9.7%
I don't want to sound like one of those people who brags about thier home town but I'm thinking they missed one.



Comments (6)
Butttttt, does the l... (Below threshold)1. Posted by Maggie | March 20, 2006 9:10 AM | Score: 0 (0 votes cast)
Butttttt, does the lower 9th still qualify as a neighborhood?
1. Posted by Maggie | March 20, 2006 9:10 AM |
Score: 0 (0 votes cast)
Posted on March 20, 2006 09:10
2. Posted by cstmbuild | March 20, 2006 9:33 AM | Score: 0 (0 votes cast)
They missed it because you have to actually have a sale to base the data on.
2. Posted by cstmbuild | March 20, 2006 9:33 AM |
Score: 0 (0 votes cast)
Posted on March 20, 2006 09:33
3. Posted by mj | March 20, 2006 9:47 AM | Score: 0 (0 votes cast)
mission hill in Boston might as well be the lower 9th.
3. Posted by mj | March 20, 2006 9:47 AM |
Score: 0 (0 votes cast)
Posted on March 20, 2006 09:47
4. Posted by JohnAnnArbor | March 20, 2006 10:29 AM | Score: 0 (0 votes cast)
I'm guessing Detroit isn't counted because their prices hit bottom a while back. Abandoning the house is -100% appreciation.
4. Posted by JohnAnnArbor | March 20, 2006 10:29 AM |
Score: 0 (0 votes cast)
Posted on March 20, 2006 10:29
5. Posted by invernessie | March 20, 2006 3:04 PM | Score: 0 (0 votes cast)
#3/Chicago 60611 was a bit of a surprise as it is my neighborhood - sure glad I didn't buy my apartment when it went condo!
5. Posted by invernessie | March 20, 2006 3:04 PM |
Score: 0 (0 votes cast)
Posted on March 20, 2006 15:04
6. Posted by Cybrludite | March 21, 2006 2:17 AM | Score: 0 (0 votes cast)
Heck, was the lower nine all that great of an investment to begin with?
6. Posted by Cybrludite | March 21, 2006 2:17 AM |
Score: 0 (0 votes cast)
Posted on March 21, 2006 02:17