Jacksonville
Rent as % of after tax mortgage payment: 123.1%
Median home price change, 2006-2010: -28.1%
When HousingWire recently reported that in certain cities, housing prices had dropped to a four-year low, Florida's largest city was among those at the top of its list. Jacksonville home prices fell 13.9% in January over a year before, and high mortgage defaults, as well as foreclosures, are to blame.
Although these stats are unfortunate for the local economy, they're creating good opportunities for buyers to get into the market at low cost, and lessened risk. In Jacksonville it now costs about 19% less to own than it does to rent.
NEXT: St. Louis
Last updated March 29 2011: 9:31 AM ET
