The city and metro area of New Orleans has been battered by a succession of calamities over the past decade: high crime rates, Katrina, and the oil spill. As the area rebuilds, it's one of the places where the construction industry is very active.
That has been a boon to the local economy, but the job picture still darkened last year, with the unemployment rate jumping to 7.6% in November -- more than a point above the rate in 2009.
Plus, earnings are not high here, with the median household income hitting just $47,188 in 2009, according to the Census Bureau. That's nearly10% below the national median.
Most foreclosures here result from economic factors rather than a reliance on exotic mortgage products.
The 36% foreclosure filing jump in 2010 came on the heels of a 79% increase in 2009 and was enough to push the New Orleans metro into RealtyTrac's top 100 worst cities for foreclosures.
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