How the Real Estate Market Was Impacted in These 25 Places Hit Hard by COVID-19

With a slow COVID-19 vaccine rollout in the U.S. and the country still divided on whether to wear masks and socially distance, the coronavirus pandemic has not yet begun to slow in the United States as we near the one-year anniversary of early shelter-in-place orders. Countrywide, over 28 million cases and more than 498,000 deaths have been reported, according to The New York Times. Rising cases have driven many people to sell their homes and flee to less COVID-19-impacted cities.

Read: What Homes Will Be Worth in Your State by the End of 2021

GOBankingRates used USAFacts data to find 25 counties with the highest known COVID-19 cases as of Jan. 21, 2021, and 25 counties with the highest known total deaths caused by COVID-19 as of Jan. 21, 2021. We then looked up the Feb. 29, 2020, home value and the Dec. 31, 2020, home value to show a change in home values. While the home value increased in many of these counties, like Queens County, New York, and Cook County, Illinois, that increase was very small.

Here are the 25 counties hardest hit by COVID-19 and its impact on the real estate market.

Franklin County, Ohio

• County population: 1,316,756
• Total Cases as of Jan. 21, 2021: 100,046
• Feb. 29, 2020 home value: $215,141
• Dec. 31, 2020 home value: $236,194
• % change in home value: 9.79%

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Palm Beach County, Florida

• County population: 1,496,770
• Total Cases as of Jan. 21, 2021: 100,208
• Feb. 29, 2020 home value: $340,192
• Dec. 31, 2020 home value: $362,538
• % change in home value: 6.57%

More: 8 Insider Tips to Get Rich in Real Estate

Philadelphia County, Pennsylvania

• County population: 1,584,064
• Total Cases as of Jan. 21, 2021: 100,356
• Feb. 29, 2020 home value: $183,221
• Dec. 31, 2020 home value: $202,261
• % change in home value: 10.39%

Find: 50 Cities With the Most Homes Under $100K

Milwaukee County, Wisconsin

• County population: 945,726
• Total Cases as of Jan. 21, 2021: 100,680
• Feb. 29, 2020 home value: $152,675
• Dec. 31, 2020 home value: $169,945
• % change in home value: 11.31%

Read: Houses in These 29 Cities Are Suddenly Major Bargains

Bronx County, New York

• County population: 1,418,207
• Total Cases as of Jan. 21, 2021: 104,103
• Feb. 29, 2020 home value: $532,983
• Dec. 31, 2020 home value: $561,057
• % change in home value: 5.27%

See: Cheapest Places To Buy a Home in Every State

El Paso County, Texas

• County population: 839,238
• Total Cases as of Jan. 21, 2021: 108,561
• Feb. 29, 2020 home value: $135,917
• Dec. 31, 2020 home value: $147,430
• % change in home value: 8.47%

More: Buying a Home in 2021? Here’s What You Need To Know

Nassau County, New York

• County population: 1,356,924
• Total Cases as of Jan. 21, 2021: 117,371
• Feb. 29, 2020 home value: $571,268
• Dec. 31, 2020 home value: $606,053
• % change in home value: 6.09%

Discover: 50 Cities With the Most Overpriced Homes

Salt Lake County, Utah

• County population: 1,160,437
• Total Cases as of Jan. 21, 2021: 124,688
• Feb. 29, 2020 home value: $399,002
• Dec. 31, 2020 home value: $449,360
• % change in home value: 12.62%

Related: 40 Cities That Could Be Poised For a Housing Crisis

Suffolk County, New York

• County population: 1,476,601
• Total Cases as of Jan. 21, 2021: 131,309
• Feb. 29, 2020 home value: $555,130
• Dec. 31, 2020 home value: $612,374
• % change in home value: 10.31%

Read: Craziest Things That Kill Your Home’s Value

Kings County, New York

• County population: 2,559,903
• Total Cases as of Jan. 21, 2021: 155,424
• Feb. 29, 2020 home value: $823,567
• Dec. 31, 2020 home value: $851,615
• % change in home value: 3.41%

See: What a $1M Home Looks Like Across America

Bexar County, Texas

• County population: 2,003,554
• Total Cases as of Jan. 21, 2021: 155,588
• Feb. 29, 2020 home value: $194,991
• Dec. 31, 2020 home value: $206,243
• % change in home value: 5.77%

Find: In Less Than a Decade, You Won’t Be Able To Afford a Home in These Cities

Queens County, New York

• County population: 2,253,858
• Total Cases as of Jan. 21, 2021: 158,865
• Feb. 29, 2020 home value: $711,439
• Dec. 31, 2020 home value: $730,656
• % change in home value: 2.70%

More: 50 Cities With the Most Underpriced Homes

Broward County, Florida

• County population: 1,952,778
• Total Cases as of Jan. 21, 2021: 162,720
• Feb. 29, 2020 home value: $339,330
• Dec. 31, 2020 home value: $364,393
• % change in home value: 7.39%

Read: 32 Insider Tips for Buying and Selling a House

Tarrant County, Texas

• County population: 2,102,515
• Total Cases as of Jan. 21, 2021: 199,521
• Feb. 29, 2020 home value: $226,983
• Dec. 31, 2020 home value: $242,536
• % change in home value: 6.85%

See: 20 Home Renovations That Will Hurt Your Home’s Value

Clark County, Nevada

• County population: 2,266,715
• Total Cases as of Jan. 21, 2021: 204,369
• Feb. 29, 2020 home value: $305,996
• Dec. 31, 2020 home value: $327,304
• % change in home value: 6.96%

Find: You Might Actually Be Able To Afford a Mansion in These 20 States

Orange County, California

• County population: 3,175,692
• Total Cases as of Jan. 21, 2021: 216,893
• Feb. 29, 2020 home value: $794,041
• Dec. 31, 2020 home value: $852,272
• % change in home value: 7.33%

Discover: 5 Signs You’re About To Overpay on That House You Want

San Diego County, CA

• County population: 3,338,330
• Total Cases as of Jan. 21, 2021: 218,553
• Feb. 29, 2020 home value: $640,218
• Dec. 31, 2020 home value: $713,471
• % change in home value: 11.44%

Read: 28 House-Flipping Rules You Should Never Break

Dallas County, Texas

• County population: 2,635,516
• Total Cases as of Jan. 21, 2021: 239,683
• Feb. 29, 2020 home value: $219,499
• Dec. 31, 2020 home value: $238,710
• % change in home value: 8.75%

See: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

Riverside County, California

• County population: 2,470,546
• Total Cases as of Jan. 21, 2021: 248,686
• Feb. 29, 2020 home value: $411,002
• Dec. 31, 2020 home value: $449,862
• % change in home value: 9.45%

More: Homes in These 25 Waterfront Cities Are a Total Steal

San Bernadino County, California

• County population: 2,180,085
• Total Cases as of Jan. 21, 2021: 255,921
• Feb. 29, 2020 home value: $374,427
• Dec. 31, 2020 home value: $413,231
• % change in home value: 10.36%

Related: The Cost To Own a 3-Bedroom Home in Every State

Harris County, Texas

• County population: 4,713,325
• Total Cases as of Jan. 21, 2021: 290,249
• Feb. 29, 2020 home value: $201,577
• Dec. 31, 2020 home value: $215,609
• % change in home value: 6.96%

Find: 25 Tricks To Sell Your House for a Bigger Profit

Miami-Dade County, Florida

• County population: 2,716,940
• Total Cases as of Jan. 21, 2021: 352,495
• Feb. 29, 2020 home value: $354,745
• Dec. 31, 2020 home value: $377,003
• % change in home value: 6.27%

See: 20 Key Signs That Your House Is Losing Value

Maricopa County, Arizona

• County population: 4,485,414
• Total Cases as of Jan. 21, 2021: 434,337
• Feb. 29, 2020 home value: $303,808
• Dec. 31, 2020 home value: $345,093
• % change in home value: 13.59%

More: How To Sell Your House Fast: Real Estate Agents Tell All

Cook County, Illinois

• County population: 5,150,233
• Total Cases as of Jan. 21, 2021: 439,118
• Feb. 29, 2020 home value: $253,906
• Dec. 31, 2020 home value: $269,802
• % change in home value: 6.26%

Related: 30 Ways To Upgrade Your Home Without Blowing Your Budget

Los Angeles County, California

• County population: 10,039,107
• Total Cases as of Jan. 21, 2021: 1,015,608
• Feb. 29, 2020 home value: $671,012
• Dec. 31, 2020 home value: $728,937
• % change in home value: 8.63%

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Methodology: In order to find the 50 places hit hardest by COVID-19 and its effect on the real estate market, GOBankingRates first used USAFacts data to find (1) 25 counties with the highest known COVID-19 cases as of Jan. 21, 2021, and (2) 25 counties with the highest known total deaths caused by COVID-19 as of Jan. 21, 2021. GOBankingRates then found for each of those 50 counties (3) the Feb. 29, 2020 home value; (4) the Dec. 31, 2020 home value; (5) the change in home value from February to December 2020; and (6)the percent change in home value from February to December 2020. All data was collected on and up to date as of Jan. 22, 2021.

About the Author

Jordan Rosenfeld

Jordan Rosenfeld is a freelance writer and author of nine books. She holds a B.A. from Sonoma State University and an MFA from Bennington College. Her articles and essays about finances and other topics has appeared in a wide range of publications and clients, including The Atlantic, The Billfold, Good Magazine, GoBanking Rates, Daily Worth, Quartz, Medical Economics, The New York Times, Ozy, Paypal, The Washington Post and for numerous business clients. As someone who had to learn many of her lessons about money the hard way, she enjoys writing about personal finance to empower and educate people on how to make the most of what they have and live a better quality of life.

 

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