"Many of the weaker metros remain hard-hit by the decline in manufacturing employment or loss of a large employer and just haven't had time to recover yet," Arch MI wrote in the quarterly Housing and Mortgage Market Review report. "Most are in colder climates.
Arch looked at three factors in each metro to determine their rankings: the 5-year percentage change in employment, the increase in total employment in the past five years and the hypothetical median debt-to-income ratio, an estimate of what percentage of the median income in the metro is needed to make mortgage payments on a median-priced home, or put more simply, a measure of home affordability in a particular market.
The top three metros in the report were
The report also highlighted
There was one bit of good news for
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