One of the WORST Housing Markets in the US is in Illinois
There is a city in Illinois that ranks as one of the 10 worst real-estate markets in the country right now according to the experts, and it's not Chicago...
WalletHub released a list called 2023's Best Real-Estate Markets and Peoria, Illinois ranked as the 6th worst real-estate market in the country according to their ranking. The only places that are ranked worse than Peoria are Baltimore, New Orleans, Baton Rouge, Shreveport, and Portsmouth (Virginia). How did WalletHub determine these rankings? On their site they say...
"To determine the best local real-estate markets in the U.S., WalletHub compared 300 cities of varying sizes across 17 key indicators of housing-market attractiveness and economic strength. Our data set ranges from median home-price appreciation to job growth."
Peoria isn't a lone standout in the Land of Lincoln. Overall, the cities in Illinois performed really poorly on this list, Chicago finished 290th (remember these rankings a 1 to 300), Waukegan finished 289th, Joliet is 284th, Springfield is 276th, Aurora 268th, Elgin 267th, Rockford 263rd, and even the town that normally gets nothing but great praise Naperville was ranked 188th. To see the full list for yourself click here!
So, what is going on in Illinois? Why is the Land of Lincoln's biggest cities all ranked so low on the list of best real-estate markets? Illinois needs to look at what is going on in Texas and Florida because they have so many of the top-ranked real-estate markets. Does this concern you if you live in Illinois, and has it impacted where you are looking to live?
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