9 of the 20 Worst Places to Buy a House Are in the Tri-State: Report - NBC New York

9 of the 20 Worst Places to Buy a House Are in the Tri-State: Report

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    NEWSLETTERS

    9 of the 20 Worst Places to Buy a House Are in the Tri-State: Report
    Jamaalcobbs

    What to Know

    • WalletHub released a ranking of the best local real-estate markets in the country on Wednesday

    • Of the 300 cities the site compared, nine cities from the tri-state area landed in the bottom 20

    • In 299th place on the overall rankings was Newark, New Jersey, which had an “affordability and economic environment” ranking of 298

    Prospective homebuyers looking to invest in real estate may want to avoid the tri-state area.

    Personal finance site WalletHub on Wednesday released a ranking of the best real-estate markets in the country. Of the 300 cities the site compared, nine cities from the tri-state area landed in the bottom 20.

    In 299th place on the overall rankings was Newark, New Jersey, which had an “affordability and economic environment” ranking of 298. 

    Newark's rankings were a far cry from Frisco, Texas, which took the number one spot overall and the number one spot on the “affordability and economic environment” ranking.

    Elizabeth and Paterson in New Jersey, Waterbury and Bridgeport in Connecticut and Rochester, in upstate New York, placed 296th, 295th, 291st, 290th and 289th overall, respectively.

    Yonkers, Hartford and New York City placed 285th, 283rd and 281st overall, according to the report.

    “To determine the best local real-estate markets in the U.S., WalletHub compared 300 cities of varying sizes across 22 key indicators of housing-market attractiveness and economic strength,” the site said.

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