The housing bubble popped painfully in many popular second-home areas - including these. Median values fell 10% to 20% in the past year alone and are expected to bottom in the next 12 months.
Median home: $104,000
What it's like: Popular with Chicagoans for its beauty and affordable prices, Montague abuts White Lake, which connects to Lake Michigan and its broad, sandy beaches.
Check out: Lakefront property - prices there have fallen the most and are expected to rebound first.