50 Worst Housing Markets in the US for Growth

Whether you’re planning to sell or refinance, ensure you’re paying the correct amount in property taxes and insurance, or just wanting to keep tabs on market trends, it’s important to understand your home’s value.

Many American cities have seen that value decrease over the last year or two — some substantially.

To determine the current “worst” U.S. housing markets, GOBankingRates analyzed Zillow’s May 2025 data. Cities in the 250 largest Metro Statistical Areas (MSAs) were ranked based on a blend of year-over-year and two-year changes in home value (percentage and dollar value), mean days from listing to pending, mean list-to-sale ratio, mean days from pending to close, share of listings with a price cut, and mean price cut. We’ve included the full methodology at the end of this story.

Here are some key findings, based on this analysis:

• The city of Punta Gorda — located in southwest Florida about 110 miles from Tampa — has the country’s worst housing market.
• Punta Gorda saw the largest year-over-year decrease in home value based on percentage (-10.05%). It was followed by Cape Coral, Florida (-8.19%), and Northport, Florida (-7.49%).
• Punta Gorda also showed the largest two-year value loss by far, with homes shedding more than 12% of their value between May 2023 and May 2025.
• Several larger cities — Austin, Tampa and New Orleans — are among the top 10 worst markets.
• Many of the cities in the list actually showed strong overall growth between May 2023 and May 2025, before hitting a slowdown in the past year.

Here’s the full 50-city list.

Also see housing markets that will skyrocket by the end of the year.

• May 2025 average home value: $275,275
• 1-year change in home value: 0.50%
• 2-year change in home value: 2.97%

• May 2025 average home value: $259,162
• 1-year change in home value: -0.25%
• 2-year change in home value: 0.37%

• May 2025 average home value: $146,416
• 1-year change in home value: 3.34%
• 2-year change in home value: 8.95%

• May 2025 average home value: $1,204,009
• 1-year change in home value: -2.04%
• 2-year change in home value: 2.74%

• May 2025 average home value: $403,905
• 1-year change in home value: -0.17%
• 2-year change in home value: -0.82%

• May 2025 average home value: $196,168
• 1-year change in home value: 0.19%
• 2-year change in home value: 4.61%

• May 2025 average home value: $292,884
• 1-year change in home value: -1.09%
• 2-year change in home value: 3.85%

• May 2025 average home value: $245,756
• 1-year change in home value: -0.61%
• 2-year change in home value: 1.18%

• May 2025 average home value: $161,148
• 1-year change in home value: 0.11%
• 2-year change in home value: 0.90%

• May 2025 average home value: $200,285
• 1-year change in home value: -0.65%
• 2-year change in home value: 1.90%

• May 2025 average home value: $195,609
• 1-year change in home value: -0.10%
• 2-year change in home value: 3.15%

• May 2025 average home value: $617,695
• 1-year change in home value: -1.64%
• 2-year change in home value: 0.76%

• May 2025 average home value: $206,888
• 1-year change in home value: 0.58%
• 2-year change in home value: 3.87%

• May 2025 average home value: $320,636
• 1-year change in home value: -1.17%
• 2-year change in home value: 3.33%

• May 2025 average home value: $194,903
• 1-year change in home value: -0.02%
• 2-year change in home value: 5.12%

• May 2025 average home value: $357,885
• 1-year change in home value: -0.89%
• 2-year change in home value: 0.96%

• May 2025 average home value: $361,756
• 1-year change in home value: -1.75%
• 2-year change in home value: 2.40%

• May 2025 average home value: $395,784
• 1-year change in home value: -2.03%
• 2-year change in home value: 2.34%

• May 2025 average home value: $254,036
• 1-year change in home value: -2.32%
• 2-year change in home value: -3.18%

• May 2025 average home value: $208,038
• 1-year change in home value: -2.84%
• 2-year change in home value: -2.42%

• May 2025 average home value: $365,957
• 1-year change in home value: -1.40%
• 2-year change in home value: 0.78%

• May 2025 average home value: $256,616
• 1-year change in home value: -1.48%
• 2-year change in home value: -0.20%

• May 2025 average home value: $175,211
• 1-year change in home value: 0.48%
• 2-year change in home value: -1.11%

• May 2025 average home value: $565,729
• 1-year change in home value: -0.96%
• 2-year change in home value: 0.54%

• May 2025 average home value: $409,504
• 1-year change in home value: -2.50%
• 2-year change in home value: 1.11%

• May 2025 average home value: $318,323
• 1-year change in home value: -1.28%
• 2-year change in home value: 0.44%

• May 2025 average home value: $328,932
• 1-year change in home value: -2.40%
• 2-year change in home value: -1.09%

• May 2025 average home value: $300,927
• 1-year change in home value: -2.26%
• 2-year change in home value: -0.33%

• May 2025 average home value: $571,719
• 1-year change in home value: -1.10%
• 2-year change in home value: 7.09%

• May 2025 average home value: $198,154
• 1-year change in home value: -2.81%
• 2-year change in home value: -4.38%

• May 2025 average home value: $466,712
• 1-year change in home value: -2.77%
• 2-year change in home value: 1.62%

• May 2025 average home value: $365,803
• 1-year change in home value: -2.33%
• 2-year change in home value: -0.79%

• May 2025 average home value: $411,945
• 1-year change in home value: -2.98%
• 2-year change in home value: -2.33%

• May 2025 average home value: $380,068
• 1-year change in home value: -2.82%
• 2-year change in home value: -1.37%

• May 2025 average home value: $219,045
• 1-year change in home value: -2.33%
• 2-year change in home value: -1.59%

• May 2025 average home value: $308,714
• 1-year change in home value: -3.59%
• 2-year change in home value: -1.87%

• May 2025 average home value: $281,989
• 1-year change in home value: -2.34%
• 2-year change in home value: -1.80%

• May 2025 average home value: $287,611
• 1-year change in home value: -3.07%
• 2-year change in home value: -5.00%

• May 2025 average home value: $359,107
• 1-year change in home value: -3.58%
• 2-year change in home value: -1.32%

• May 2025 average home value: $196,047
• 1-year change in home value: -1.93%
• 2-year change in home value: -6.91%

• May 2025 average home value: $187,393
• 1-year change in home value: -5.01%
• 2-year change in home value: -2.18%

• May 2025 average home value: $405,319
• 1-year change in home value: -3.52%
• 2-year change in home value: -0.56%

• May 2025 average home value: $338,186
• 1-year change in home value: -3.80%
• 2-year change in home value: -2.20%

• May 2025 average home value: $254,505
• 1-year change in home value: -2.23%
• 2-year change in home value: -9.01%

• May 2025 average home value: $383,706
• 1-year change in home value: -4.46%
• 2-year change in home value: -1.03%

• May 2025 average home value: $458,253
• 1-year change in home value: -4.99%
• 2-year change in home value: -8.72%

• May 2025 average home value: $700,334
• 1-year change in home value: -6.62%
• 2-year change in home value: -2.58%

• May 2025 average home value: $374,134
• 1-year change in home value: -8.19%
• 2-year change in home value: -8.82%

• May 2025 average home value: $439,876
• 1-year change in home value: -7.49%
• 2-year change in home value: -7.90%

• May 2025 average home value: $331,375
• 1-year change in home value: -10.05%
• 2-year change in home value: -12.29%

Methodology: For this piece, GOBankingRates looked at the Real Estate market’s 250 largest Metro Statistical Areas (MSAs) and sourced the following ten factors: (1) 1-year percent change in home value; (2) 1-year change in home value in USD; (3) 2-year percent change in home value; (4) 2-year change in home value in USD; (5) for-sale inventory; (6) mean days from listing to pending; (7) mean list-to-sale ratio; (8) mean days from pending to close; (9) share of listings with a price cut; and (10) mean price cut. All data was sourced from Zillow’s May 2025 data. All 10 factors were scored and combined, with the highest scores determining the worst housing markets. Numbers for (1), (2), (9), and (10) were weighted 2x, and factor (5) was weighted 0.5x. All data was collected on and is up to date as of June 16, 2025.