<!-- wp:html --><p>Flint, Michigan ranked worst in the country, according to the study.</p>
<p class="copyright">LindaParton / iStock</p>
<p>Markets in Michigan and Ohio rank among the worst for home value growth, according to a SmartAsset study.<br />
The best markets are in places like Colorado and Texas. <br />
Flint, Michigan ranks worst in the country, according to the study. </p>
<p>If you're looking for wealth stability when you buy a house, it might be smart to stay away from the Midwest. </p>
<p><a href="https://www.cnbc.com/2023/04/07/worst-places-to-buy-a-home-if-you-want-it-to-grow-in-value.html" target="_blank" rel="noopener">According to a new SmartAsset study</a>, some markets in Ohio and Michigan rank among the worst for home value growth and stability. </p>
<p>The study took stock of 400 US housing markets and the amount the values of homes increased over the past 25 years. </p>
<p>In some of the best markets, like those in Austin, Texas and Boulder, Colorado, home values have increased by up to about 350% in value. But toward the bottom of the rankings, home values have increased by as little as 70% since 1998 — slower than the pace of inflation, which has seen the buying power of a dollar in 1998 balloon to $1.86, <a href="https://www.bls.gov/data/inflation_calculator.htm" target="_blank" rel="noopener">according to the US Bureau of Labor Statistics inflation calculator</a>. </p>
<p>The Smart Asset study took into account how many fiscal quarters a home value decreased by more than 5% in the 10 years after a home was purchased, reflected as a percentile and weighted with the overall change in value of homes in the market over 25 years. </p>
<p>If you're looking to buy a home, here are the 15 US markets with the worst return on investment you might want to avoid: </p>
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<div class="slide-title">15. Elgin, Illinois</div>
<div class="slide-image">Illinois, United States.
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<p>Elgin, Illinois, located just west of Chicago, ranks 15th in the study, with a home value increase of about 73% over the last 25 years. The city ranked among the worst for stability, with values decreasing 38% of the time over the 10 years after a home was purchased.</p>
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<div class="slide-title">14. Cleveland, Ohio</div>
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<p class="copyright">Yuanshuai Si/Getty Images</p>
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<p>The Cleveland-Elyria metro area ranked 14th in the study with a value increase of 69% over 25 years, and a stability ranking in the 38th percentile, according to SmartAsset. Cleveland also saw homes devalue at a rate of 38%, but its slower overall growth brought it below Elgin in the rankings. </p>
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<div class="slide-title">13. Lansing, Michigan</div>
<div class="slide-image">Michigan State Capitol Building in Lansing
<p class="copyright">Education Images/Universal Images Group via Getty Images</p>
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<p>Lansing ranked 13th with a home value increase of 84% — but it was dragged lower on the list with a 41% rate of devaluation over the first 10 years of homeownership. </p>
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<div class="slide-title">12. Mansfield, Ohio</div>
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<p class="copyright">Sabrina Gordon/Getty Images</p>
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<p>Masfield, Ohio ranked 12th with a home value increase of 75%, and a 40% rate of devaluation. </p>
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<div class="slide-title">11. Toledo, Ohio</div>
<div class="slide-image">Toledo is a large midwestern port city that is renowned for its glass industry.
<p class="copyright">Getty Images</p>
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<p>Toledo fell at the 11th worst ranking with a home value increase of 68% since 1998, and a 39% rate of devaluation, according to SmartAsset. </p>
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<div class="slide-title">10. Jackson, Michigan</div>
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<p class="copyright">Google/Screenshot</p>
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<p>Jackson kicks of the worst 10 markets with a home value increase of 87% — among the highest in the bottom 15. But its rate of devaluation fell at 42%, among the worst in the study.</p>
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<div class="slide-title">9. Warren, Michigan</div>
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<p>The Warren-Troy-Farmington Hills metro ranked ninth with a home value increase of 85% and a devaluation rate of 42% to match Jackson. </p>
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<div class="slide-title">8. Kokomo, Indiana</div>
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<p class="copyright">Wikimedia</p>
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<p>Kokomo ranked eighth with a home value increase of just 65%, and a devaluation rate of 39%.</p>
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<div class="slide-title">7. Bay City, Michigan</div>
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<p>Homes in Bay City have increased in value by 71% since 1998, but have had a devaluation rate of 40%, according to SmartAsset. </p>
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<div class="slide-title">6. Rockford, Illinois</div>
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<p class="copyright">Henryk Sadura/Shutterstock</p>
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<p>Home values in Rockford have increased just 62% — the lowest recorded in the study. The area experienced a devaluation rate of 39%. </p>
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<div class="slide-title">5. East Stroudsburg, Pennsylvania</div>
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<p class="copyright">Mike Segar/Reuters</p>
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<p>Rounding out the top five is East Stroudsburg, where homes have increased in value by 100% since 1998. But stability in the area faltered at 45%, matching the worst ranked city in the study</p>
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<div class="slide-title">4. Saginaw, Michigan</div>
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<p>Saginaw saw home values increase by just 64% and devalue at a rate of 40%</p>
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<div class="slide-title">3. Detroit, Michigan</div>
<div class="slide-image">Downtown Detroit, Michigan.
<p class="copyright">Getty Images</p>
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<p>The Detroit metropolitan area ranked among the worst in the Study, with a home value increase of 76%, and devaluation at a rate of 44%.</p>
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<div class="slide-title">2. Monroe, Michigan</div>
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<p class="copyright">Google/Screenshot</p>
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<p>Monroe ranks second-worst in the country with a value increase of 75% and devaluation rate of 44%</p>
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<div class="slide-title">1. Flint, Michigan</div>
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<p class="copyright">http://247wallst.files.wordpress.com/2011/05/flint.jpg</p>
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<p>Flint is the worst market for home value stability in the country, according to SmartAsset. The area experienced a home value increase of about 72% over 25 years, but had the worst stability rate in the country, clocking in at 45%. </p>
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<div class="read-original">Read the original article on <a href="https://www.businessinsider.com/worst-places-to-buy-home-to-increase-value-list-photos-2023-4">Business Insider</a></div><!-- /wp:html -->
Flint, Michigan ranked worst in the country, according to the study.
LindaParton / iStock
Markets in Michigan and Ohio rank among the worst for home value growth, according to a SmartAsset study.
The best markets are in places like Colorado and Texas.
Flint, Michigan ranks worst in the country, according to the study.
If you’re looking for wealth stability when you buy a house, it might be smart to stay away from the Midwest.
The study took stock of 400 US housing markets and the amount the values of homes increased over the past 25 years.
In some of the best markets, like those in Austin, Texas and Boulder, Colorado, home values have increased by up to about 350% in value. But toward the bottom of the rankings, home values have increased by as little as 70% since 1998 — slower than the pace of inflation, which has seen the buying power of a dollar in 1998 balloon to $1.86, according to the US Bureau of Labor Statistics inflation calculator.
The Smart Asset study took into account how many fiscal quarters a home value decreased by more than 5% in the 10 years after a home was purchased, reflected as a percentile and weighted with the overall change in value of homes in the market over 25 years.
If you’re looking to buy a home, here are the 15 US markets with the worst return on investment you might want to avoid:
15. Elgin, Illinois
Illinois, United States.
Getty Images
Elgin, Illinois, located just west of Chicago, ranks 15th in the study, with a home value increase of about 73% over the last 25 years. The city ranked among the worst for stability, with values decreasing 38% of the time over the 10 years after a home was purchased.
14. Cleveland, Ohio
Yuanshuai Si/Getty Images
The Cleveland-Elyria metro area ranked 14th in the study with a value increase of 69% over 25 years, and a stability ranking in the 38th percentile, according to SmartAsset. Cleveland also saw homes devalue at a rate of 38%, but its slower overall growth brought it below Elgin in the rankings.
13. Lansing, Michigan
Michigan State Capitol Building in Lansing
Education Images/Universal Images Group via Getty Images
Lansing ranked 13th with a home value increase of 84% — but it was dragged lower on the list with a 41% rate of devaluation over the first 10 years of homeownership.
12. Mansfield, Ohio
Sabrina Gordon/Getty Images
Masfield, Ohio ranked 12th with a home value increase of 75%, and a 40% rate of devaluation.
11. Toledo, Ohio
Toledo is a large midwestern port city that is renowned for its glass industry.
Getty Images
Toledo fell at the 11th worst ranking with a home value increase of 68% since 1998, and a 39% rate of devaluation, according to SmartAsset.
10. Jackson, Michigan
Google/Screenshot
Jackson kicks of the worst 10 markets with a home value increase of 87% — among the highest in the bottom 15. But its rate of devaluation fell at 42%, among the worst in the study.
9. Warren, Michigan
Google/Screenshot
The Warren-Troy-Farmington Hills metro ranked ninth with a home value increase of 85% and a devaluation rate of 42% to match Jackson.
8. Kokomo, Indiana
Wikimedia
Kokomo ranked eighth with a home value increase of just 65%, and a devaluation rate of 39%.
7. Bay City, Michigan
Google/Screenshot
Homes in Bay City have increased in value by 71% since 1998, but have had a devaluation rate of 40%, according to SmartAsset.
6. Rockford, Illinois
Henryk Sadura/Shutterstock
Home values in Rockford have increased just 62% — the lowest recorded in the study. The area experienced a devaluation rate of 39%.
5. East Stroudsburg, Pennsylvania
Mike Segar/Reuters
Rounding out the top five is East Stroudsburg, where homes have increased in value by 100% since 1998. But stability in the area faltered at 45%, matching the worst ranked city in the study
4. Saginaw, Michigan
Shutterstock
Saginaw saw home values increase by just 64% and devalue at a rate of 40%
3. Detroit, Michigan
Downtown Detroit, Michigan.
Getty Images
The Detroit metropolitan area ranked among the worst in the Study, with a home value increase of 76%, and devaluation at a rate of 44%.
2. Monroe, Michigan
Google/Screenshot
Monroe ranks second-worst in the country with a value increase of 75% and devaluation rate of 44%
Flint is the worst market for home value stability in the country, according to SmartAsset. The area experienced a home value increase of about 72% over 25 years, but had the worst stability rate in the country, clocking in at 45%.
