Chicago
Median price: $210,000
Foreclosure rate: 3.68%
The great Midwestern metropolis was a relatively steady housing market performer all during the boom-bust cycle. Prices never got too high -- they've fallen just 17% since late 2006 -- and the bust has not wiped out much home equity, so there are few homeowners underwater.
The area economy did stumble during the recession, with unemployment rising into double digits. As a result, most foreclosures here were job related rather than being tied to bad mortgages.
But now that the metro area unemployment rate is dropping -- down to 9% in November from 10.3% 12 months earlier -- the foreclosure rate, which has tripled since 2006, should ease.
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Last updated January 27 2011: 6:31 PM ET
