DETROIT — Detroit has been ranked as the worst real estate market in the nation in a new WalletHub study.

With home values rising by an average of more than $16,000 in the first quarter of 2018 but affordability dropping as mortgage rates get higher, the personal-finance website WalletHub released its report on 2018’s Best Real-Estate Markets.

To determine the most attractive real-estate markets in the U.S., WalletHub compared 300 cities across 22 key metrics. The data set ranges from median home-price appreciation to home sales turnover rate to job growth.

Detroit ranked 300th overall and 63rd among large cities. Here’s a look at how the city fared:

Health of Detroit’s Real-Estate Market (1=Best; 150=Avg.):

  • 270th – % of Homes with Negative Equity
  • 161st – Job Growth Rate
  • 93rd – Foreclosure Rate
  • 288th – Number of Unsold Homes Owned by Banks (REOs)
  • 300th – Population Growth Rate

The study also mentioned Dearborn, which was second in the nation for highest median home-price appreciation, only after Richmond, Calif.

The title of the nation’s best real estate market belongs to Frisco, Texas, which has a much smaller population of about 177,000, according to U.S. Census data.

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