Housing Price Index changes by MSA

4
March 3, 2012 at 2:34 pm  •  Posted in Geography, Real Estate by  •  4 Comments

I get a little annoyed when I see articles ranking which states have the worst foreclosure problem or the biggest drop in housing prices over time.  Why would anyone want to look at this at the state level?  Maybe state governors and political talking heads?  Not really my kind of audience.  The economic drivers that determine the health of a housing market are far more localized and don’t really care about state boundaries.  I think you have to at least look at metropolitan areas to learn something about housing prices.

For example, let’s look at Illinois.  The great State of Illinois is obviously dominated by the city of Chicago and if you look at housing prices for all of Illinois you’re really just seeing a watered down view of what’s happening in Chicago that won’t tell you anything about the housing market in Springfield.  So, looking at housing price changes in Illinois you see a decrease of about 20%.  If, however, you look at several metropolitan areas in Illinois you’ll see that while Chicago has taken a sizable hit in home prices, down -23%, parts of central Illinois are actually doing pretty well.  The Champaign-Urbana market is down less than 1%, Decatur and Peoria are both up about 2% and Springfield, the state capital, is actually up almost 5%.

So, to help identify the best and worst performing markets over the past 5 years, I’ve compiled the following list based on House Price Index (HPI) data from the Federal Housing Finance Agency.  Forbes will only give you the top 10 with ads at every click but here you get data for over 300 metros.  Housing markets are ranked from worst (biggest drop in housing prices) to best (largest increase in housing prices).  Merced, California is the worst performing housing market in the US over the past 5 years dropping more than 60% in value while Bismarck, North Dakota has fared the best rising 16% in value.

Rank

Region

5-yr HPI

1

Merced, CA

-62.46

2

Las Vegas-Paradise, NV

-59.81

3

Modesto, CA

-58.85

4

Stockton, CA

-57.22

5

Vallejo-Fairfield, CA

-54.05

6

Madera-Chowchilla, CA

-52.64

7

Salinas, CA

-51.54

8

Cape Coral-Fort Myers, FL

-51.23

9

Bakersfield-Delano, CA

-50.66

10

Naples-Marco Island, FL

-50.49

11

Reno-Sparks, NV

-50.41

12

Port St. Lucie, FL

-50.29

13

Yuba City, CA

-49.42

14

Riverside-San Bernardino-Ontario, CA

-48.04

15

Palm Bay-Melbourne-Titusville, FL

-47.87

16

Phoenix-Mesa-Glendale, AZ

-47.78

17

Punta Gorda, FL

-47.08

18

Fresno, CA

-46.70

19

North Port-Bradenton-Sarasota, FL

-46.55

20

Deltona-Daytona Beach-Ormond Beach, FL

-46.24

21

West Palm Beach-Boca Raton-Boynton Beach, FL (MSAD)

-46.22

22

Visalia-Porterville, CA

-46.04

23

Orlando-Kissimmee-Sanford, FL

-45.20

24

Ft. Lauderdale-Pompano Bch.-Deerfield Bch., FL(MSAD)

-44.84

25

Miami-Miami Beach-Kendall, FL (MSAD)

-43.62

26

Sacramento-Arden-Arcade-Roseville, CA

-43.52

27

Bend, OR

-43.25

28

Ocala, FL

-42.96

29

Lakeland-Winter Haven, FL

-42.66

30

Lake Havasu City-Kingman, AZ

-42.64

31

Prescott, AZ

-40.55

32

Tampa-St. Petersburg-Clearwater, FL

-40.26

33

Redding, CA

-39.76

34

Santa Barbara-Santa Maria-Goleta, CA

-39.53

35

Napa, CA

-39.14

36

Yuma, AZ

-37.65

37

Santa Rosa-Petaluma, CA

-37.32

38

Medford, OR

-36.80

39

St. George, UT

-36.78

40

Boise City-Nampa, ID

-35.65

41

Oxnard-Thousand Oaks-Ventura, CA

-34.87

42

Tucson, AZ

-34.71

43

Oakland-Fremont-Hayward, CA (MSAD)

-34.64

44

Jacksonville, FL

-33.76

45

Detroit-Livonia-Dearborn, MI (MSAD)

-33.70

46

Chico, CA

-33.66

47

Panama City-Lynn Haven-Panama City Beach, FL

-33.40

48

Flint, MI

-33.13

49

Los Angeles-Long Beach-Glendale, CA (MSAD)

-32.83

50

Flagstaff, AZ-UT

-32.57

51

Winchester, VA-WV

-32.21

52

San Luis Obispo-Paso Robles, CA

-32.17

53

Crestview-Fort Walton Beach-Destin, FL

-31.72

54

San Diego-Carlsbad-San Marcos, CA

-31.71

55

Hagerstown-Martinsburg, MD-WV

-31.31

56

Santa Ana-Anaheim-Irvine, CA (MSAD)

-30.93

57

Warren-Troy-Farmington Hills, MI (MSAD)

-30.70

58

Santa Cruz-Watsonville, CA

-29.83

59

Gainesville, FL

-26.38

60

Coeur d’Alene, ID

-26.22

61

Monroe, MI

-26.19

62

Gainesville, GA

-25.35

63

Jackson, MI

-25.19

64

Pensacola-Ferry Pass-Brent, FL

-25.02

65

Tacoma, WA (MSAD)

-25.02

66

Myrtle Beach-North Myrtle Beach-Conway, SC

-24.87

67

Tallahassee, FL

-23.59

68

San Jose-Sunnyvale-Santa Clara, CA

-23.53

69

Lansing-East Lansing, MI

-23.52

70

Chicago-Joliet-Naperville, IL (MSAD)

-22.86

71

Minneapolis-St. Paul-Bloomington, MN-WI

-22.61

72

Poughkeepsie-Newburgh-Middletown, NY

-22.48

73

Atlantic City-Hammonton, NJ

-22.07

74

Lake County-Kenosha County, IL-WI (MSAD)

-21.94

75

Washington-Arlington-Alexandria, DC-VA-MD-WV (MSAD)

-21.41

76

Providence-New Bedford-Fall River, RI-MA

-21.36

77

Ann Arbor, MI

-20.92

78

San Francisco-San Mateo-Redwood City, CA (MSAD)

-20.83

79

Mount Vernon-Anacortes, WA

-20.31

80

Dover, DE

-20.04

81

Seattle-Bellevue-Everett, WA (MSAD)

-19.92

82

Bremerton-Silverdale, WA

-19.90

83

Atlanta-Sandy Springs-Marietta, GA

-19.74

84

Portland-Vancouver-Hillsboro, OR-WA

-19.54

85

Wilmington, NC

-19.34

86

Bethesda-Rockville-Frederick, MD (MSAD)

-18.88

87

Salem, OR

-18.63

88

Eugene-Springfield, OR

-18.48

89

Baltimore-Towson, MD

-18.40

90

Longview, WA

-18.38

91

Edison-New Brunswick, NJ (MSAD)

-18.18

92

Olympia, WA

-18.03

93

Worcester, MA

-18.03

94

Ocean City, NJ

-17.96

95

Bay City, MI

-17.78

96

Camden, NJ (MSAD)

-17.69

97

Manchester-Nashua, NH

-17.37

98

Mansfield, OH

-17.21

99

Nassau-Suffolk, NY (MSAD)

-17.13

100

Grand Rapids-Wyoming, MI

-17.05

101

Trenton-Ewing, NJ

-16.87

102

Provo-Orem, UT

-16.82

103

Bridgeport-Stamford-Norwalk, CT

-16.79

104

Fayetteville-Springdale-Rogers, AR-MO

-16.70

105

Muskegon-North Shores, MI

-16.66

106

Rockingham County-Strafford County, NH (MSAD)

-16.58

107

Saginaw-Saginaw Township North, MI

-16.10

108

Savannah, GA

-15.99

109

Newark-Union, NJ-PA (MSAD)

-15.91

110

New Haven-Milford, CT

-15.69

111

Allentown-Bethlehem-Easton, PA-NJ

-15.37

112

Barnstable Town, MA

-15.27

113

Wilmington, DE-MD-NJ (MSAD)

-15.18

114

Norwich-New London, CT

-15.09

115

Charleston-North Charleston-Summerville, SC

-15.04

116

New York-White Plains-Wayne, NY-NJ (MSAD)

-14.98

117

Racine, WI

-14.68

118

Virginia Beach-Norfolk-Newport News, VA-NC

-14.57

119

Grand Junction, CO

-14.50

120

Battle Creek, MI

-14.30

121

Toledo, OH

-14.19

122

Kingston, NY

-14.13

123

Richmond, VA

-14.08

124

Santa Fe, NM

-13.92

125

Athens-Clarke County, GA

-13.77

126

Peabody, MA (MSAD)

-13.74

127

Gulfport-Biloxi, MS

-13.67

128

Holland-Grand Haven, MI

-13.58

129

St. Cloud, MN

-13.07

130

Greeley, CO

-12.95

131

Boston-Quincy, MA (MSAD)

-12.94

132

Cleveland-Elyria-Mentor, OH

-12.88

133

Salt Lake City, UT

-12.80

134

Kokomo, IN

-12.55

135

Rockford, IL

-12.40

136

Janesville, WI

-12.11

137

Akron, OH

-12.04

138

Albuquerque, NM

-11.37

139

Macon, GA

-11.31

140

Bellingham, WA

-11.27

141

Las Cruces, NM

-11.24

142

Spokane, WA

-11.09

143

Kalamazoo-Portage, MI

-10.86

144

Milwaukee-Waukesha-West Allis, WI

-10.81

145

York-Hanover, PA

-10.63

146

Memphis, TN-MS-AR

-9.98

147

Canton-Massillon, OH

-9.59

148

Niles-Benton Harbor, MI

-9.51

149

Reading, PA

-9.38

150

Springfield, MA

-9.33

151

Sheboygan, WI

-9.14

152

Columbus, GA-AL

-9.06

153

Charlottesville, VA

-8.99

154

Portland-South Portland-Biddeford, ME

-8.93

155

Hartford-West Hartford-East Hartford, CT

-8.91

156

Colorado Springs, CO

-8.78

157

Dayton, OH

-8.73

158

Cambridge-Newton-Framingham, MA (MSAD)

-8.62

159

Harrisonburg, VA

-8.30

160

Kansas City, MO-KS

-8.21

161

Philadelphia, PA (MSAD)

-8.01

162

Springfield, OH

-7.90

163

Mobile, AL

-7.87

164

Mankato-North Mankato, MN

-7.75

165

St. Louis, MO-IL

-7.71

166

Auburn-Opelika, AL

-7.67

167

Elkhart-Goshen, IN

-7.65

168

Green Bay, WI

-7.61

169

Wenatchee-East Wenatchee, WA

-7.44

170

New Orleans-Metairie-Kenner, LA

-7.18

171

Michigan City-La Porte, IN

-7.14

172

Kankakee-Bradley, IL

-7.06

173

Youngstown-Warren-Boardman, OH-PA

-6.85

174

Cincinnati-Middletown, OH-KY-IN

-6.81

175

Ogden-Clearfield, UT

-6.50

176

Pueblo, CO

-6.48

177

Columbus, OH

-6.22

178

Idaho Falls, ID

-6.16

179

Rochester, MN

-6.08

180

Corvallis, OR

-5.98

181

Springfield, MO

-5.93

182

Charlotte-Gastonia-Rock Hill, NC-SC

-5.87

183

Denver-Aurora-Broomfield, CO

-5.56

184

Birmingham-Hoover, AL

-5.43

185

Gary, IN (MSAD)

-5.27

186

Montgomery, AL

-5.27

187

Honolulu, HI

-5.00

188

Missoula, MT

-4.97

189

Blacksburg-Christiansburg-Radford, VA

-4.82

190

Asheville, NC

-4.77

191

Lima, OH

-4.56

192

South Bend-Mishawaka, IN-MI

-4.30

193

Madison, WI

-4.18

194

Anderson, IN

-4.09

195

Greensboro-High Point, NC

-3.89

196

Appleton, WI

-3.87

197

Pocatello, ID

-3.80

198

Augusta-Richmond County, GA-SC

-3.74

199

Spartanburg, SC

-3.56

200

Terre Haute, IN

-3.51

201

Anderson, SC

-3.46

202

Columbia, SC

-3.40

203

Oshkosh-Neenah, WI

-3.29

204

Lawrence, KS

-3.22

205

Duluth, MN-WI

-3.18

206

Burlington, NC

-3.16

207

Fort Wayne, IN

-3.00

208

Roanoke, VA

-2.96

209

Nashville-Davidson–Murfreesboro–Franklin, TN

-2.79

210

Indianapolis-Carmel, IN

-2.40

211

Des Moines-West Des Moines, IA

-2.34

212

Lancaster, PA

-2.26

213

Hickory-Lenoir-Morganton, NC

-2.06

214

Chattanooga, TN-GA

-1.84

215

Fort Collins-Loveland, CO

-1.82

216

Winston-Salem, NC

-1.69

217

Omaha-Council Bluffs, NE-IA

-1.56

218

Knoxville, TN

-1.12

219

Wausau, WI

-1.04

220

Bloomington-Normal, IL

-0.99

221

Champaign-Urbana, IL

-0.95

222

Eau Claire, WI

-0.71

223

Raleigh-Cary, NC

-0.71

224

Louisville-Jefferson County, KY-IN

-0.65

225

Greenville, NC

-0.61

226

Florence, SC

-0.43

227

Lafayette, IN

-0.42

228

Fond du Lac, WI

-0.38

229

Durham-Chapel Hill, NC

-0.37

230

Lincoln, NE

-0.36

231

Lynchburg, VA

-0.26

232

Columbia, MO

-0.17

233

El Paso, TX

-0.07

234

Jackson, MS

-0.07

235

Albany-Schenectady-Troy, NY

-0.01

236

Lexington-Fayette, KY

+0.28

237

Harrisburg-Carlisle, PA

+0.42

238

Tuscaloosa, AL

+0.51

239

Fort Worth-Arlington, TX (MSAD)

+0.65

240

Yakima, WA

+0.79

241

Burlington-South Burlington, VT

+0.89

242

Logan, UT-ID

+0.90

243

Corpus Christi, TX

+1.23

244

Evansville, IN-KY

+1.25

245

Topeka, KS

+1.29

246

Boulder, CO

+1.56

247

Dallas-Plano-Irving, TX (MSAD)

+1.58

248

Scranton-Wilkes-Barre, PA

+1.58

249

Cedar Rapids, IA

+1.72

250

Anchorage, AK

+1.75

251

La Crosse, WI-MN

+2.06

252

Decatur, IL

+2.14

253

Little Rock-North Little Rock-Conway, AR

+2.17

254

Greenville-Mouldin-Easley, SC

+2.18

255

Peoria, IL

+2.40

256

Fort Smith, AR-OK

+2.43

257

Ames, IA

+2.66

258

Cheyenne, WY

+2.89

259

Bowling Green, KY

+2.91

260

Joplin, MO

+3.02

261

Iowa City, IA

+3.04

262

Syracuse, NY

+3.09

263

Davenport-Moline-Rock Island, IA-IL

+3.25

264

Casper, WY

+3.44

265

Kingsport-Bristol-Bristol, TN-VA

+3.49

266

Jefferson City, MO

+3.85

267

Beaumont-Port Arthur, TX

+4.01

268

Charleston, WV

+4.04

269

Decatur, AL

+4.06

270

Rochester, NY

+4.13

271

Rapid City, SD

+4.14

272

Johnson City, TN

+4.29

273

Owensboro, KY

+4.30

274

Sioux Falls, SD

+4.47

275

San Antonio-New Braunfels, TX

+4.49

276

Oklahoma City, OK

+4.51

277

Baton Rouge, LA

+4.55

278

Springfield, IL

+4.58

279

Waterloo-Cedar Falls, IA

+4.59

280

Columbus, IN

+4.94

281

Huntsville, AL

+4.97

282

Tulsa, OK

+5.19

283

Fargo, ND-MN

+5.27

284

Kennewick-Pasco-Richland, WA

+5.46

285

Bloomington, IN

+5.61

286

Wichita, KS

+5.79

287

Billings, MT

+5.84

288

Florence-Muscle Shoals, AL

+5.87

289

Lake Charles, LA

+6.11

290

Erie, PA

+6.14

291

Fayetteville, NC

+6.18

292

Lafayette, LA

+6.18

293

Amarillo, TX

+6.39

294

Lubbock, TX

+6.58

295

Pittsburgh, PA

+6.68

296

Buffalo-Niagara Falls, NY

+6.80

297

Houston-Sugar Land-Baytown, TX

+7.03

298

Dubuque, IA

+7.84

299

Shreveport-Bossier City, LA

+7.92

300

Monroe, LA

+7.98

301

Sioux City, IA-NE-SD

+8.05

302

State College, PA

+8.05

303

Austin-Round Rock-San Marcos, TX

+9.27

304

Huntington-Ashland, WV-KY-OH

+10.54

305

Houma-Bayou Cane-Thibodaux, LA

+12.05

306

Bismarck, ND

+16.00

4 Comments

  1. Pingback: Map of Housing Price Index Change Illustrates Four Clusters of Misery « Geographical Perspectives

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