U.S. Metro Housing Market Rankings

December 2025 · 287 metros scored

Each metro scores 0–100 for housing cycle risk, derived from six public-data factors ranked against peers. How it works →

201 of 287metros

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Risk

Cycle

Momentum

Liquidity

Valuation

Permits

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Core Risk					Structural Drivers						Market Signals		Cycle		Context
#↑	Metro	Score	Risk Band	Chg	Price	Permits	Per Cap	Afford	Employ	Migr	Liquidity	Valuation	Diverg.	Cycle	Yield	S/L	Cuts	Emp	Value
39	New Orleans, LA35380	60	NeutralNeutral	▲ 12	74	32	15	78	61	97	Stable↑	Compressed—	Moderate	Expansion	—	—	—	Con	—	›
Structural Drivers Price74 Permits32 Per Cap15 Afford78 Employ61 Migr97 LiqStable↑ ValCompressed— DivergModerate CycleExpansion Full metro detail →
39	Pensacola, FL37860	60	NeutralNeutral	▼ 1	54	43	71	84	77	32	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price54 Permits43 Per Cap71 Afford84 Employ77 Migr32 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
39	Rochester, NY40380	60	NeutralNeutral	▲ 7	86	77	15	17	68	94	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price86 Permits77 Per Cap15 Afford17 Employ68 Migr94 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
39	Cincinnati, OH-KY-IN17140	60	NeutralNeutral	▲ 2	63	64	40	11	86	95	Watch↑	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price63 Permits64 Per Cap40 Afford11 Employ86 Migr95 LiqWatch↑ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
39	Bellingham, WA13380	60	NeutralNeutral	▼ 4	58	52	61	89	77	22	Stress↓	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price58 Permits52 Per Cap61 Afford89 Employ77 Migr22 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
40	Detroit, MI19820	60	NeutralNeutral	▲ 2	81	84	21	14	60	97	Watch—	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price81 Permits84 Per Cap21 Afford14 Employ60 Migr97 LiqWatch— ValBalanced— DivergModerate CycleHypersupply Full metro detail →
44	College Station, TX17780	59	NeutralNeutral	▲ 6	40	67	88	96	3	61	Stable↑	Balanced—	High	Expansion	—	—	—	Con	—	›
Structural Drivers Price40 Permits67 Per Cap88 Afford96 Employ3 Migr61 LiqStable↑ ValBalanced— DivergHigh CycleExpansion Full metro detail →
44	Louisville/Jefferson County, KY-IN31140	59	NeutralNeutral	▲ 9	46	63	55	34	65	93	Watch↓	—	Low	Recovery	—	—	—	—	—	›
Structural Drivers Price46 Permits63 Per Cap55 Afford34 Employ65 Migr93 LiqWatch↓ DivergLow CycleRecovery Full metro detail →
44	Traverse City, MI45900	59	NeutralNeutral	—	84	65	75	87	7	38	Stable↓	Balanced—	High	Recovery	—	—	—	Con	—	›
Structural Drivers Price84 Permits65 Per Cap75 Afford87 Employ7 Migr38 LiqStable↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
44	Fort Smith, AR-OK22900	59	NeutralNeutral	▲ 25	62	81	34	76	34	68	Watch↑	Balanced↓	High	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price62 Permits81 Per Cap34 Afford76 Employ34 Migr68 LiqWatch↑ ValBalanced↓ DivergHigh CycleHypersupply Full metro detail →
44	Salt Lake City, UT41620	59	NeutralNeutral	▲ 15	41	83	68	60	7	96	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price41 Permits83 Per Cap68 Afford60 Employ7 Migr96 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
44	Florence, AL22520	59	NeutralNeutral	▲ 13	85	95	31	50	47	48	Stable↓	Compressed↑	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price85 Permits95 Per Cap31 Afford50 Employ47 Migr48 LiqStable↓ ValCompressed↑ CycleRecovery Full metro detail →
44	Clarksville, TN-KY17300	59	NeutralNeutral	▲ 1	66	59	87	71	45	26	Stable↓	Compressed—	Moderate	Recovery	—	—	—	—	—	›
Structural Drivers Price66 Permits59 Per Cap87 Afford71 Employ45 Migr26 LiqStable↓ ValCompressed— DivergModerate CycleRecovery Full metro detail →
51	Kansas City, MO-KS28140	58	NeutralNeutral	▼ 6	61	51	52	33	77	75	Watch↓	Balanced—	Low	Recovery	—	—	—	—	—	›
Structural Drivers Price61 Permits51 Per Cap52 Afford33 Employ77 Migr75 LiqWatch↓ ValBalanced— DivergLow CycleRecovery Full metro detail →
51	Prescott Valley, AZ39150	58	NeutralNeutral	▼ 9	73	28	77	93	69	11	—	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price73 Permits28 Per Cap77 Afford93 Employ69 Migr11 ValBalanced— CycleExpansion Full metro detail →
51	Omaha, NE-IA36540	58	NeutralNeutral	▼ 11	49	40	74	18	87	81	Stable—	Balanced—	Low	Recovery	—	—	—	Mod	—	›
Structural Drivers Price49 Permits40 Per Cap74 Afford18 Employ87 Migr81 LiqStable— ValBalanced— DivergLow CycleRecovery Full metro detail →
51	Anchorage, AK11260	58	NeutralNeutral	▲ 8	95	73	4	3	97	78	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price95 Permits73 Per Cap4 Afford3 Employ97 Migr78 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
51	New Haven, CT35300	58	NeutralNeutral	▲ 11	82	83	12	9	68	95	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price82 Permits83 Per Cap12 Afford9 Employ68 Migr95 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
51	Milwaukee, WI33340	58	NeutralNeutral	▼ 12	80	30	20	29	90	97	Stable—	Balanced—	High	Expansion	—	—	—	Div	—	›
Structural Drivers Price80 Permits30 Per Cap20 Afford29 Employ90 Migr97 LiqStable— ValBalanced— DivergHigh CycleExpansion Full metro detail →
51	Knoxville, TN28940	58	NeutralNeutral	▲ 5	45	85	86	92	23	16	Stress↓	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price45 Permits85 Per Cap86 Afford92 Employ23 Migr16 LiqStress↓ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
51	Jacksonville, NC27340	58	NeutralNeutral	▲ 2	6	67	72	75	92	34	Stable—	Balanced↓	—	Expansion	—	—	—	Con	—	›
Structural Drivers Price6 Permits67 Per Cap72 Afford75 Employ92 Migr34 LiqStable— ValBalanced↓ CycleExpansion Full metro detail →
51	Fargo, ND-MN22020	58	NeutralNeutral	▲ 15	50	57	68	38	78	58	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price50 Permits57 Per Cap68 Afford38 Employ78 Migr58 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
51	Columbus, OH18140	58	NeutralNeutral	▲ 3	50	80	79	23	17	96	Watch↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price50 Permits80 Per Cap79 Afford23 Employ17 Migr96 LiqWatch↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
61	Mobile, AL33660	57	NeutralNeutral	▼ 11	64	5	32	72	89	82	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price64 Permits5 Per Cap32 Afford72 Employ89 Migr82 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
61	San Diego, CA41740	57	NeutralNeutral	▲ 4	31	55	45	76	47	88	Stable—	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price31 Permits55 Per Cap45 Afford76 Employ47 Migr88 LiqStable— ValBalanced— CycleRecovery Full metro detail →
61	Homosassa Springs, FL26140	57	NeutralNeutral	▼ 13	3	36	96	100	87	20	Stress↓	Balanced↓	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price3 Permits36 Per Cap96 Afford100 Employ87 Migr20 LiqStress↓ ValBalanced↓ CycleHypersupply Full metro detail →
61	Dothan, AL20020	57	NeutralNeutral	▼ 1	100	39	45	39	62	58	Stable↓	Compressed↑	High	Recovery	—	—	—	—	—	›
Structural Drivers Price100 Permits39 Per Cap45 Afford39 Employ62 Migr58 LiqStable↓ ValCompressed↑ DivergHigh CycleRecovery Full metro detail →
61	Spartanburg, SC43900	57	NeutralNeutral	▲ 7	79	77	92	66	13	17	Watch↑	Balanced—	—	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price79 Permits77 Per Cap92 Afford66 Employ13 Migr17 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
61	Fort Collins, CO22660	57	NeutralNeutral	▲ 12	28	89	73	59	71	21	Stress—	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price28 Permits89 Per Cap73 Afford59 Employ71 Migr21 LiqStress— ValBalanced— CycleHypersupply Full metro detail →
61	Baton Rouge, LA12940	57	NeutralNeutral	0	75	84	59	30	9	86	Stable—	Compressed—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price75 Permits84 Per Cap59 Afford30 Employ9 Migr86 LiqStable— ValCompressed— DivergModerate CycleExpansion Full metro detail →
61	Youngstown, OH49660	57	NeutralNeutral	▲ 7	89	58	1	59	68	65	Stable—	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price89 Permits58 Per Cap1 Afford59 Employ68 Migr65 LiqStable— ValBalanced— CycleExpansion Full metro detail →
69	Cleveland, OH17410	56	NeutralNeutral	—	88	68	17	8	56	97	—	Balanced—	Moderate	Expansion	—	—	—	Div	—	›
Structural Drivers Price88 Permits68 Per Cap17 Afford8 Employ56 Migr97 ValBalanced— DivergModerate CycleExpansion Full metro detail →
69	Billings, MT13740	56	NeutralNeutral	▼ 10	42	22	64	77	86	43	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price42 Permits22 Per Cap64 Afford77 Employ86 Migr43 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
69	Duluth, MN-WI20260	56	NeutralNeutral	▼ 9	91	11	26	97	66	46	Stable—	Balanced—	Moderate	Expansion	—	—	—	Mod	—	›
Structural Drivers Price91 Permits11 Per Cap26 Afford97 Employ66 Migr46 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
69	Topeka, KS45820	56	NeutralNeutral	▲ 4	21	95	32	21	99	65	Stable↓	Balanced↓	Low	Recovery	—	—	—	—	—	›
Structural Drivers Price21 Permits95 Per Cap32 Afford21 Employ99 Migr65 LiqStable↓ ValBalanced↓ DivergLow CycleRecovery Full metro detail →
69	Providence, RI-MA39300	56	NeutralNeutral	▼ 6	71	86	11	78	60	28	Stable—	Balanced—	Moderate	Expansion	—	—	—	Mod	—	›
Structural Drivers Price71 Permits86 Per Cap11 Afford78 Employ60 Migr28 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
69	Oshkosh, WI36780	56	NeutralNeutral	▼ 10	82	47	47	48	59	56	Stress↑	Balanced—	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price82 Permits47 Per Cap47 Afford48 Employ59 Migr56 LiqStress↑ ValBalanced— CycleRecession Full metro detail →
69	Portland, OR-WA38900	56	NeutralNeutral	▲ 2	25	38	42	41	88	99	Stable↓	—	High	Recovery	—	—	—	Mod	—	›
Structural Drivers Price25 Permits38 Per Cap42 Afford41 Employ88 Migr99 LiqStable↓ DivergHigh CycleRecovery Full metro detail →
76	Grand Rapids, MI24340	55	NeutralNeutral	▲ 9	68	68	46	47	40	61	Stable↑	Balanced—	Moderate	Expansion	—	—	—	Con	—	›
Structural Drivers Price68 Permits68 Per Cap46 Afford47 Employ40 Migr61 LiqStable↑ ValBalanced— DivergModerate CycleExpansion Full metro detail →
76	Lansing, MI29620	55	NeutralNeutral	▲ 15	71	88	16	17	48	90	Stable↓	Balanced↓	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price71 Permits88 Per Cap16 Afford17 Employ48 Migr90 LiqStable↓ ValBalanced↓ DivergModerate CycleRecovery Full metro detail →
76	Eugene, OR21660	55	NeutralNeutral	▼ 14	41	34	50	85	85	35	Stable↓	Balanced↓	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price41 Permits34 Per Cap50 Afford85 Employ85 Migr35 LiqStable↓ ValBalanced↓ CycleRecovery Full metro detail →
76	Niles, MI35660	55	NeutralNeutral	▲ 7	87	60	27	69	48	41	Stable↑	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price87 Permits60 Per Cap27 Afford69 Employ48 Migr41 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
76	Orlando, FL36740	55	NeutralNeutral	▲ 11	21	78	91	86	51	3	Stable↓	Balanced—	High	Recovery	—	—	—	Div	—	›
Structural Drivers Price21 Permits78 Per Cap91 Afford86 Employ51 Migr3 LiqStable↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
76	Greenville, SC24860	55	NeutralNeutral	▲ 1	56	49	89	74	55	8	Stress—	Balanced—	Moderate	Recession	—	—	—	Mod	—	›
Structural Drivers Price56 Permits49 Per Cap89 Afford74 Employ55 Migr8 LiqStress— ValBalanced— DivergModerate CycleRecession Full metro detail →
76	Jackson, TN27180	55	NeutralNeutral	▲ 11	68	38	25	60	83	56	Watch↑	Balanced↑	Low	Hypersupply	—	—	—	—	—	›
Structural Drivers Price68 Permits38 Per Cap25 Afford60 Employ83 Migr56 LiqWatch↑ ValBalanced↑ DivergLow CycleHypersupply Full metro detail →
76	Virginia Beach, VA-NC47260	55	NeutralNeutral	0	55	20	25	47	96	87	Stable—	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price55 Permits20 Per Cap25 Afford47 Employ96 Migr87 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
76	Johnson City, TN27740	55	NeutralNeutral	▼ 8	83	4	53	100	22	70	Stress↓	Balanced↑	High	Hypersupply	—	—	—	—	—	›
Structural Drivers Price83 Permits4 Per Cap53 Afford100 Employ22 Migr70 LiqStress↓ ValBalanced↑ DivergHigh CycleHypersupply Full metro detail →
76	Athens, GA12020	55	NeutralNeutral	▼ 13	14	10	69	98	76	64	Stress↑	Balanced—	High	Recession	—	—	—	—	—	›
Structural Drivers Price14 Permits10 Per Cap69 Afford98 Employ76 Migr64 LiqStress↑ ValBalanced— DivergHigh CycleRecession Full metro detail →
86	Utica, NY46540	54	NeutralNeutral	▲ 4	95	63	5	56	35	73	Watch↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price95 Permits63 Per Cap5 Afford56 Employ35 Migr73 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
86	Cedar Rapids, IA16300	54	NeutralNeutral	▼ 4	82	45	49	2	85	63	Stable↓	Balanced—	High	Recovery	—	—	—	Mod	—	›
Structural Drivers Price82 Permits45 Per Cap49 Afford2 Employ85 Migr63 LiqStable↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
86	Peoria, IL37900	54	NeutralNeutral	0	93	75	0	3	94	62	Stable↑	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price93 Permits75 Per Cap0 Afford3 Employ94 Migr62 LiqStable↑ ValBalanced— DivergModerate CycleExpansion Full metro detail →
86	Bend, OR13460	54	NeutralNeutral	▲ 15	27	96	95	90	5	8	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price27 Permits96 Per Cap95 Afford90 Employ5 Migr8 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
86	Dayton, OH19430	54	NeutralNeutral	▼ 4	91	46	27	8	62	92	—	Balanced—	High	Expansion	—	—	—	Mod	—	›
Structural Drivers Price91 Permits46 Per Cap27 Afford8 Employ62 Migr92 ValBalanced— DivergHigh CycleExpansion Full metro detail →
86	Grand Junction, CO24300	54	NeutralNeutral	▲ 3	55	14	57	95	77	25	Stress↓	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price55 Permits14 Per Cap57 Afford95 Employ77 Migr25 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
86	Iowa City, IA26980	54	NeutralNeutral	▲ 4	36	97	79	7	22	86	Stable↓	Balanced—	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price36 Permits97 Per Cap79 Afford7 Employ22 Migr86 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
86	Kenosha, WI28450	54	NeutralNeutral	—	47	100	63	11	57	47	—	—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price47 Permits100 Per Cap63 Afford11 Employ57 Migr47 CycleExpansion Full metro detail →
86	Lubbock, TX31180	54	NeutralNeutral	▲ 6	36	86	85	39	42	38	Stable↑	Balanced—	—	Expansion	—	—	—	—	—	›
Structural Drivers Price36 Permits86 Per Cap85 Afford39 Employ42 Migr38 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
86	Muskegon, MI34740	54	NeutralNeutral	▼ 3	73	61	32	96	16	44	Stable↑	Balanced↑	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price73 Permits61 Per Cap32 Afford96 Employ16 Migr44 LiqStable↑ ValBalanced↑ CycleExpansion Full metro detail →
86	Racine, WI39540	54	NeutralNeutral	▲ 12	86	51	27	26	99	37	Stable↑	Balanced↓	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price86 Permits51 Per Cap27 Afford26 Employ99 Migr37 LiqStable↑ ValBalanced↓ CycleExpansion Full metro detail →
97	Bridgeport, CT14860	53	NeutralNeutral	▲ 11	96	97	46	1	66	13	Stable—	Compressed—	—	Expansion	—	—	—	Div	—	›
Structural Drivers Price96 Permits97 Per Cap46 Afford1 Employ66 Migr13 LiqStable— ValCompressed— CycleExpansion Full metro detail →
97	Kalamazoo, MI28020	53	NeutralNeutral	▲ 15	67	79	14	32	45	80	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price67 Permits79 Per Cap14 Afford32 Employ45 Migr80 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
97	Richmond, VA40060	53	NeutralNeutral	▲ 5	70	60	75	49	49	16	Stable↓	Balanced—	Moderate	Recovery	—	—	—	—	—	›
Structural Drivers Price70 Permits60 Per Cap75 Afford49 Employ49 Migr16 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
97	Charlottesville, VA16820	53	NeutralNeutral	▲ 13	59	64	70	28	36	63	Stress—	Balanced—	Moderate	Recession	—	—	—	Con	—	›
Structural Drivers Price59 Permits64 Per Cap70 Afford28 Employ36 Migr63 LiqStress— ValBalanced— DivergModerate CycleRecession Full metro detail →
97	Bloomington, IL14010	53	NeutralNeutral	0	73	63	11	1	89	81	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price73 Permits63 Per Cap11 Afford1 Employ89 Migr81 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
97	Birmingham, AL13820	53	NeutralNeutral	▲ 6	49	74	45	24	37	89	Stable—	Balanced—	Moderate	Expansion	—	—	—	Con	—	›
Structural Drivers Price49 Permits74 Per Cap45 Afford24 Employ37 Migr89 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
97	Wichita, KS48620	53	NeutralNeutral	▲ 9	37	64	56	27	64	72	Watch↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price37 Permits64 Per Cap56 Afford27 Employ64 Migr72 LiqWatch↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
97	Lynchburg, VA31340	53	NeutralNeutral	▼ 19	46	12	51	67	81	62	Stress↓	Balanced↑	High	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price46 Permits12 Per Cap51 Afford67 Employ81 Migr62 LiqStress↓ ValBalanced↑ DivergHigh CycleHypersupply Full metro detail →
97	Florence, SC22500	53	NeutralNeutral	▼ 6	62	70	55	64	4	64	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price62 Permits70 Per Cap55 Afford64 Employ4 Migr64 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
97	Oklahoma City, OK36420	53	NeutralNeutral	▲ 10	56	76	67	53	39	27	Stable—	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price56 Permits76 Per Cap67 Afford53 Employ39 Migr27 LiqStable— ValBalanced— DivergModerate CycleRecovery Full metro detail →
97	Saginaw, MI40980	53	NeutralNeutral	▲ 15	83	72	3	27	58	73	Stress↓	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price83 Permits72 Per Cap3 Afford27 Employ58 Migr73 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
97	Colorado Springs, CO17820	53	NeutralNeutral	▲ 18	22	92	80	35	72	18	Watch—	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price22 Permits92 Per Cap80 Afford35 Employ72 Migr18 LiqWatch— ValBalanced— CycleHypersupply Full metro detail →
104	Miami, FL33100	53	NeutralNeutral	▲ 19	34	87	45	100	50	0	Stable↓	Balanced—	High	Recovery	—	—	—	Div	—	›
Structural Drivers Price34 Permits87 Per Cap45 Afford100 Employ50 Migr0 LiqStable↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
104	Seattle, WA42660	53	NeutralNeutral	▼ 3	24	32	51	44	70	98	Watch—	Balanced—	High	Hypersupply	—	—	—	Div	—	›
Structural Drivers Price24 Permits32 Per Cap51 Afford44 Employ70 Migr98 LiqWatch— ValBalanced— DivergHigh CycleHypersupply Full metro detail →
109	El Paso, TX21340	52	NeutralNeutral	▼ 3	20	41	28	70	62	93	Stable—	Balanced—	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price20 Permits41 Per Cap28 Afford70 Employ62 Migr93 LiqStable— ValBalanced— CycleRecovery Full metro detail →
109	Reading, PA39740	52	NeutralNeutral	▲ 8	96	93	2	22	41	60	Stable↓	Compressed—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price96 Permits93 Per Cap2 Afford22 Employ41 Migr60 LiqStable↓ ValCompressed— CycleRecovery Full metro detail →
109	Rockford, IL40420	52	NeutralNeutral	▼ 5	92	69	6	5	82	60	Stress↑	Balanced↓	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price92 Permits69 Per Cap6 Afford5 Employ82 Migr60 LiqStress↑ ValBalanced↓ CycleRecession Full metro detail →
109	Macon, GA31420	52	NeutralNeutral	▲ 1	97	28	23	55	67	44	Stable—	Compressed—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price97 Permits28 Per Cap23 Afford55 Employ67 Migr44 LiqStable— ValCompressed— DivergModerate CycleExpansion Full metro detail →
109	Gainesville, GA23580	52	NeutralNeutral	▼ 9	66	32	80	53	62	22	Stress↓	—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price66 Permits32 Per Cap80 Afford53 Employ62 Migr22 LiqStress↓ CycleHypersupply Full metro detail →
109	North Port, FL35840	52	NeutralNeutral	▲ 10	10	80	100	93	29	0	Stable↓	Compressed↑	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price10 Permits80 Per Cap100 Afford93 Employ29 Migr0 LiqStable↓ ValCompressed↑ CycleRecovery Full metro detail →
109	South Bend, IN-MI43780	52	NeutralNeutral	▼ 15	59	37	30	67	47	74	Stable—	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price59 Permits37 Per Cap30 Afford67 Employ47 Migr74 LiqStable— ValBalanced— CycleExpansion Full metro detail →
109	San Jose, CA41940	52	NeutralNeutral	▲ 14	11	91	38	3	71	100	Stress↑	Balanced—	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price11 Permits91 Per Cap38 Afford3 Employ71 Migr100 LiqStress↑ ValBalanced— CycleRecession Full metro detail →
109	Terre Haute, IN45460	52	NeutralNeutral	▼ 4	65	98	18	52	24	55	Watch↑	Balanced↓	High	Hypersupply	—	—	—	—	—	›
Structural Drivers Price65 Permits98 Per Cap18 Afford52 Employ24 Migr55 LiqWatch↑ ValBalanced↓ DivergHigh CycleHypersupply Full metro detail →
109	Indianapolis, IN26900	52	NeutralNeutral	0	49	51	67	15	58	70	Watch—	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price49 Permits51 Per Cap67 Afford15 Employ58 Migr70 LiqWatch— ValBalanced— DivergModerate CycleHypersupply Full metro detail →
109	Huntington, WV-KY-OH26580	52	NeutralNeutral	▲ 9	97	96	8	37	28	49	Stable—	Balanced↑	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price97 Permits96 Per Cap8 Afford37 Employ28 Migr49 LiqStable— ValBalanced↑ DivergModerate CycleRecovery Full metro detail →
109	Davenport, IA-IL19340	52	NeutralNeutral	▼ 10	92	30	13	20	90	69	Stable↓	Compressed—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price92 Permits30 Per Cap13 Afford20 Employ90 Migr69 LiqStable↓ ValCompressed— DivergModerate CycleRecovery Full metro detail →
109	Canton, OH15940	52	NeutralNeutral	▲ 5	76	84	13	19	74	47	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price76 Permits84 Per Cap13 Afford19 Employ74 Migr47 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
109	Columbia, SC17900	52	NeutralNeutral	▲ 1	59	55	78	42	30	48	Stable↓	Balanced—	High	Expansion	—	—	—	—	—	›
Structural Drivers Price59 Permits55 Per Cap78 Afford42 Employ30 Migr48 LiqStable↓ ValBalanced— DivergHigh CycleExpansion Full metro detail →
119	New York, NY-NJ35620	52	NeutralNeutral	0	84	19	30	35	41	100	Stable—	Balanced—	Moderate	Expansion	—	—	—	Con	—	›
Structural Drivers Price84 Permits19 Per Cap30 Afford35 Employ41 Migr100 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
123	Shreveport, LA43340	51	NeutralNeutral	▼ 5	50	60	34	31	47	82	Stable—	Balanced—	Moderate	Expansion	—	—	—	Mod	—	›
Structural Drivers Price50 Permits60 Per Cap34 Afford31 Employ47 Migr82 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
123	McAllen, TX32580	51	NeutralNeutral	▼ 13	18	44	84	73	9	78	Watch↓	Balanced—	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price18 Permits44 Per Cap84 Afford73 Employ9 Migr78 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
123	Ogden, UT36260	51	NeutralNeutral	▲ 5	36	71	66	41	60	30	Watch—	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price36 Permits71 Per Cap66 Afford41 Employ60 Migr30 LiqWatch— ValBalanced— DivergModerate CycleHypersupply Full metro detail →
123	Waterbury, CT47930	51	NeutralNeutral	—	76	74	8	12	93	41	—	—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price76 Permits74 Per Cap8 Afford12 Employ93 Migr41 CycleExpansion Full metro detail →
123	Lake Havasu City, AZ29420	51	NeutralNeutral	▼ 10	8	12	87	99	86	16	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price8 Permits12 Per Cap87 Afford99 Employ86 Migr16 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
123	Kennewick, WA28420	51	NeutralNeutral	▼ 1	58	45	74	27	70	34	Watch—	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price58 Permits45 Per Cap74 Afford27 Employ70 Migr34 LiqWatch— ValBalanced— CycleHypersupply Full metro detail →
123	Brownsville, TX15180	51	NeutralNeutral	▼ 5	12	58	61	86	8	79	Stable—	Balanced↓	—	Expansion	—	—	—	Con	—	›
Structural Drivers Price12 Permits58 Per Cap61 Afford86 Employ8 Migr79 LiqStable— ValBalanced↓ CycleExpansion Full metro detail →
123	St. Cloud, MN41060	51	NeutralNeutral	▼ 3	19	37	44	43	80	85	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price19 Permits37 Per Cap44 Afford43 Employ80 Migr85 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
123	Houma, LA26380	51	NeutralNeutral	▼ 7	15	42	35	53	88	74	Stable—	Balanced—	—	Expansion	—	—	—	Div	—	›
Structural Drivers Price15 Permits42 Per Cap35 Afford53 Employ88 Migr74 LiqStable— ValBalanced— CycleExpansion Full metro detail →
123	Tuscaloosa, AL46220	51	NeutralNeutral	▲ 9	69	29	24	64	43	77	Watch↓	Balanced—	High	Recovery	—	—	—	—	—	›
Structural Drivers Price69 Permits29 Per Cap24 Afford64 Employ43 Migr77 LiqWatch↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
133	Kahului, HI27980	50	NeutralNeutral	▼ 8	84	44	56	46	2	66	Watch—	Compressed—	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price84 Permits44 Per Cap56 Afford46 Employ2 Migr66 LiqWatch— ValCompressed— CycleRecession Full metro detail →
133	Buffalo, NY15380	50	NeutralNeutral	▼ 6	90	29	5	56	26	96	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price90 Permits29 Per Cap5 Afford56 Employ26 Migr96 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
133	Boise City, ID14260	50	NeutralNeutral	▲ 5	32	62	94	86	18	6	Stable↑	Balanced—	Moderate	Expansion	—	—	—	Mod	—	›
Structural Drivers Price32 Permits62 Per Cap94 Afford86 Employ18 Migr6 LiqStable↑ ValBalanced— DivergModerate CycleExpansion Full metro detail →
133	Springfield, MA44140	50	NeutralNeutral	▲ 8	74	36	1	61	36	91	Stable↑	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price74 Permits36 Per Cap1 Afford61 Employ36 Migr91 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
133	Fresno, CA23420	50	NeutralNeutral	▼ 10	35	34	36	75	52	71	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price35 Permits34 Per Cap36 Afford75 Employ52 Migr71 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
133	Evansville, IN21780	50	NeutralNeutral	▼ 3	52	50	37	35	62	63	Watch↑	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price52 Permits50 Per Cap37 Afford35 Employ62 Migr63 LiqWatch↑ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
133	Palm Bay, FL37340	50	NeutralNeutral	▲ 10	17	53	79	89	56	7	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price17 Permits53 Per Cap79 Afford89 Employ56 Migr7 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
133	Midland, TX33260	50	NeutralNeutral	▼ 13	32	35	77	77	11	67	Watch↑	Balanced↓	—	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price32 Permits35 Per Cap77 Afford77 Employ11 Migr67 LiqWatch↑ ValBalanced↓ CycleHypersupply Full metro detail →
133	Modesto, CA33700	50	NeutralNeutral	▲ 8	11	73	19	65	82	51	Watch—	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price11 Permits73 Per Cap19 Afford65 Employ82 Migr51 LiqWatch— ValBalanced— CycleHypersupply Full metro detail →
133	Auburn, AL12220	50	NeutralNeutral	▼ 2	58	26	86	62	31	37	Stable↑	Balanced—	—	Expansion	—	—	—	—	—	›
Structural Drivers Price58 Permits26 Per Cap86 Afford62 Employ31 Migr37 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
133	Yuma, AZ49740	50	NeutralNeutral	▼ 7	48	19	62	69	41	59	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price48 Permits19 Per Cap62 Afford69 Employ41 Migr59 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
133	Des Moines, IA19780	50	NeutralNeutral	▲ 5	52	81	85	5	50	25	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price52 Permits81 Per Cap85 Afford5 Employ50 Migr25 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
133	Odessa, TX36220	50	NeutralNeutral	▼ 3	40	38	66	74	8	77	Stress↑	Balanced—	—	Recession	—	—	—	Div	—	›
Structural Drivers Price40 Permits38 Per Cap66 Afford74 Employ8 Migr77 LiqStress↑ ValBalanced— CycleRecession Full metro detail →
133	Bakersfield, CA12540	50	NeutralNeutral	▼ 7	24	58	40	68	23	85	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price24 Permits58 Per Cap40 Afford68 Employ23 Migr85 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
133	Coeur d'Alene, ID17660	50	NeutralNeutral	▲ 2	22	66	91	94	6	19	Stable—	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price22 Permits66 Per Cap91 Afford94 Employ6 Migr19 LiqStable— ValBalanced— CycleExpansion Full metro detail →
140	Atlanta, GA12060	50	NeutralNeutral	▼ 3	26	23	63	27	63	95	Stable↓	Balanced—	Moderate	Recovery	—	—	—	—	—	›
Structural Drivers Price26 Permits23 Per Cap63 Afford27 Employ63 Migr95 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
140	Washington, DC-VA-MD-WV47900	50	NeutralNeutral	▼ 2	44	21	34	2	98	98	Stress↓	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price44 Permits21 Per Cap34 Afford2 Employ98 Migr98 LiqStress↓ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
140	Boston, MA-NH14460	50	NeutralNeutral	▼ 8	66	22	19	24	72	98	Watch↑	Balanced—	Moderate	Hypersupply	—	—	—	Div	—	›
Structural Drivers Price66 Permits22 Per Cap19 Afford24 Employ72 Migr98 LiqWatch↑ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
148	Oxnard, CA37100	49	NeutralNeutral	▲ 7	26	92	19	23	81	51	Stress—	Balanced—	—	Hypersupply	—	—	—	Div	—	›
Structural Drivers Price26 Permits92 Per Cap19 Afford23 Employ81 Migr51 LiqStress— ValBalanced— CycleHypersupply Full metro detail →
148	Burlington, VT15540	49	NeutralNeutral	▼ 7	29	68	64	48	33	54	Watch↑	Balanced—	High	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price29 Permits68 Per Cap64 Afford48 Employ33 Migr54 LiqWatch↑ ValBalanced— DivergHigh CycleHypersupply Full metro detail →
148	Jackson, MI27100	49	NeutralNeutral	▼ 9	69	95	17	47	16	52	Stable↑	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price69 Permits95 Per Cap17 Afford47 Employ16 Migr52 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
148	Sioux Falls, SD-MN43620	49	NeutralNeutral	▲ 4	69	27	85	34	52	26	Watch↓	Balanced—	High	Recovery	—	—	—	—	—	›
Structural Drivers Price69 Permits27 Per Cap85 Afford34 Employ52 Migr26 LiqWatch↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
148	Monroe, LA33740	49	NeutralNeutral	▲ 6	61	76	21	64	10	64	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price61 Permits76 Per Cap21 Afford64 Employ10 Migr64 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
148	Fort Wayne, IN23060	49	NeutralNeutral	▲ 3	80	11	41	39	51	71	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price80 Permits11 Per Cap41 Afford39 Employ51 Migr71 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
148	Lexington Park, MD30500	49	NeutralNeutral	—	55	82	21	0	100	36	—	—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price55 Permits82 Per Cap21 Afford0 Employ100 Migr36 CycleExpansion Full metro detail →
148	Ann Arbor, MI11460	49	NeutralNeutral	▲ 10	30	89	49	7	37	81	Stress—	Balanced—	—	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price30 Permits89 Per Cap49 Afford7 Employ37 Migr81 LiqStress— ValBalanced— CycleHypersupply Full metro detail →
148	Trenton, NJ45940	49	NeutralNeutral	▼ 16	72	7	50	5	68	94	Stress↑	Balanced—	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price72 Permits7 Per Cap50 Afford5 Employ68 Migr94 LiqStress↑ ValBalanced— CycleRecession Full metro detail →
148	Corpus Christi, TX18580	49	NeutralNeutral	▼ 3	4	70	59	61	26	76	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price4 Permits70 Per Cap59 Afford61 Employ26 Migr76 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
157	San Francisco, CA41860	49	NeutralNeutral	▲ 10	9	81	12	4	86	100	Stable—	Balanced—	High	Expansion	—	—	—	Div	—	›
Structural Drivers Price9 Permits81 Per Cap12 Afford4 Employ86 Migr100 LiqStable— ValBalanced— DivergHigh CycleExpansion Full metro detail →
158	Waterloo, IA47940	48	NeutralNeutral	▲ 11	45	69	29	43	34	66	Watch↑	Balanced—	Moderate	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price45 Permits69 Per Cap29 Afford43 Employ34 Migr66 LiqWatch↑ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
158	Greenville, NC24780	48	NeutralNeutral	▼ 2	18	48	78	57	13	73	Stress↓	Balanced—	—	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price18 Permits48 Per Cap78 Afford57 Employ13 Migr73 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
158	Merced, CA32900	48	NeutralNeutral	▲ 9	2	93	30	90	12	62	Stress↑	Balanced↑	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price2 Permits93 Per Cap30 Afford90 Employ12 Migr62 LiqStress↑ ValBalanced↑ CycleRecession Full metro detail →
158	Wilmington, NC48900	48	NeutralNeutral	▼ 13	54	33	99	87	5	7	Stress↓	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price54 Permits33 Per Cap99 Afford87 Employ5 Migr7 LiqStress↓ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
158	Roanoke, VA40220	48	NeutralNeutral	▼ 16	71	1	18	51	79	68	Stress↓	Balanced—	Moderate	Recession	—	—	—	—	—	›
Structural Drivers Price71 Permits1 Per Cap18 Afford51 Employ79 Migr68 LiqStress↓ ValBalanced— DivergModerate CycleRecession Full metro detail →
158	Greensboro, NC24660	48	NeutralNeutral	▼ 5	42	17	59	46	40	82	Stress↓	Balanced—	High	Hypersupply	—	—	—	Div	—	›
Structural Drivers Price42 Permits17 Per Cap59 Afford46 Employ40 Migr82 LiqStress↓ ValBalanced— DivergHigh CycleHypersupply Full metro detail →
158	St. Louis, MO-IL41180	48	NeutralNeutral	▼ 3	53	34	24	13	64	98	Stable—	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price53 Permits34 Per Cap24 Afford13 Employ64 Migr98 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
158	Chico, CA17020	48	NeutralNeutral	▲ 6	13	61	57	84	30	42	Stable—	Balanced↓	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price13 Permits61 Per Cap57 Afford84 Employ30 Migr42 LiqStable— ValBalanced↓ CycleRecovery Full metro detail →
158	Montgomery, AL33860	48	NeutralNeutral	▲ 13	38	56	22	4	78	90	Stable↓	Balanced—	Moderate	Recovery	—	—	—	—	—	›
Structural Drivers Price38 Permits56 Per Cap22 Afford4 Employ78 Migr90 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
158	Provo, UT39340	48	NeutralNeutral	▲ 3	54	75	92	34	17	15	Watch↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price54 Permits75 Per Cap92 Afford34 Employ17 Migr15 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
158	Fayetteville, AR22220	48	NeutralNeutral	0	51	71	98	56	0	12	Stress↓	Balanced—	High	Hypersupply	—	—	—	Con	—	›
Structural Drivers Price51 Permits71 Per Cap98 Afford56 Employ0 Migr12 LiqStress↓ ValBalanced— DivergHigh CycleHypersupply Full metro detail →
169	Spokane, WA44060	47	NeutralNeutral	▼ 7	24	16	60	65	92	24	Watch—	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price24 Permits16 Per Cap60 Afford65 Employ92 Migr24 LiqWatch— ValBalanced— CycleHypersupply Full metro detail →
169	Houston, TX26420	47	NeutralNeutral	▲ 3	19	53	88	66	43	15	Watch↓	Balanced—	Moderate	Recovery	—	—	—	—	—	›
Structural Drivers Price19 Permits53 Per Cap88 Afford66 Employ43 Migr15 LiqWatch↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
169	El Centro, CA20940	47	NeutralNeutral	▼ 9	95	2	4	95	12	74	Watch↓	Compressed↑	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price95 Permits2 Per Cap4 Afford95 Employ12 Migr74 LiqWatch↓ ValCompressed↑ CycleRecovery Full metro detail →
169	Janesville, WI27500	47	NeutralNeutral	▼ 26	77	5	26	55	76	41	Watch↑	Balanced—	—	Recession	—	—	—	Mod	—	›
Structural Drivers Price77 Permits5 Per Cap26 Afford55 Employ76 Migr41 LiqWatch↑ ValBalanced— CycleRecession Full metro detail →
169	Durham, NC20500	47	NeutralNeutral	▲ 12	57	42	83	54	5	40	Stress↓	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price57 Permits42 Per Cap83 Afford54 Employ5 Migr40 LiqStress↓ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
169	Tucson, AZ46060	47	NeutralNeutral	▼ 5	21	33	54	77	84	11	Watch↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price21 Permits33 Per Cap54 Afford77 Employ84 Migr11 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
169	Santa Fe, NM42140	47	NeutralNeutral	▲ 24	88	98	45	15	5	33	Watch↑	Compressed—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price88 Permits98 Per Cap45 Afford15 Employ5 Migr33 LiqWatch↑ ValCompressed— CycleHypersupply Full metro detail →
169	Baltimore, MD12580	47	NeutralNeutral	▲ 3	39	44	25	4	69	99	Stress—	Balanced—	Moderate	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price39 Permits44 Per Cap25 Afford4 Employ69 Migr99 LiqStress— ValBalanced— DivergModerate CycleHypersupply Full metro detail →
169	Greeley, CO24540	47	NeutralNeutral	▲ 1	13	57	89	25	90	10	Stress—	Balanced—	—	Hypersupply	—	—	—	Div	—	›
Structural Drivers Price13 Permits57 Per Cap89 Afford25 Employ90 Migr10 LiqStress— ValBalanced— CycleHypersupply Full metro detail →
169	Pueblo, CO39380	47	NeutralNeutral	▲ 2	30	23	9	92	84	45	Stress↓	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price30 Permits23 Per Cap9 Afford92 Employ84 Migr45 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
175	Philadelphia, PA-NJ-DE-MD37980	47	NeutralNeutral	▼ 3	76	50	23	20	16	97	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price76 Permits50 Per Cap23 Afford20 Employ16 Migr97 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
179	Daphne, AL19300	46	NeutralNeutral	▼ 8	27	19	96	52	67	18	Stable↓	Balanced↓	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price27 Permits19 Per Cap96 Afford52 Employ67 Migr18 LiqStable↓ ValBalanced↓ CycleRecovery Full metro detail →
179	Lafayette, LA29180	46	NeutralNeutral	▲ 2	57	62	60	52	18	29	Stable↓	Balanced—	High	Recovery	—	—	—	Mod	—	›
Structural Drivers Price57 Permits62 Per Cap60 Afford52 Employ18 Migr29 LiqStable↓ ValBalanced— DivergHigh CycleRecovery Full metro detail →
179	Kiryas Joel, NY28880	46	NeutralNeutral	—	78	42	37	18	72	27	—	—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price78 Permits42 Per Cap37 Afford18 Employ72 Migr27 CycleExpansion Full metro detail →
179	Boulder, CO14500	46	NeutralNeutral	▼ 1	11	78	65	49	44	26	Stable↑	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price11 Permits78 Per Cap65 Afford49 Employ44 Migr26 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
179	Deltona, FL19660	46	NeutralNeutral	▲ 1	7	37	82	93	52	5	Stable↓	Balanced↑	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price7 Permits37 Per Cap82 Afford93 Employ52 Migr5 LiqStable↓ ValBalanced↑ CycleRecovery Full metro detail →
179	Tulsa, OK46140	46	NeutralNeutral	▲ 13	39	78	59	58	10	29	Stable—	Balanced—	Moderate	Expansion	—	—	—	Con	—	›
Structural Drivers Price39 Permits78 Per Cap59 Afford58 Employ10 Migr29 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
179	Chattanooga, TN-GA16860	46	NeutralNeutral	▼ 12	53	24	62	83	34	21	Watch↑	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price53 Permits24 Per Cap62 Afford83 Employ34 Migr21 LiqWatch↑ ValBalanced— DivergModerate CycleHypersupply Full metro detail →
179	Nashville, TN34980	46	NeutralNeutral	▲ 6	37	47	90	80	19	3	Watch—	Balanced—	Moderate	Hypersupply	—	—	—	—	—	›
Structural Drivers Price37 Permits47 Per Cap90 Afford80 Employ19 Migr3 LiqWatch— ValBalanced— DivergModerate CycleHypersupply Full metro detail →
179	Binghamton, NY13780	46	NeutralNeutral	▼ 11	99	18	11	51	24	72	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price99 Permits18 Per Cap11 Afford51 Employ24 Migr72 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
179	Myrtle Beach, SC34820	46	NeutralNeutral	▲ 2	43	45	100	83	1	4	Stable—	Balanced↓	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price43 Permits45 Per Cap100 Afford83 Employ1 Migr4 LiqStable— ValBalanced↓ CycleExpansion Full metro detail →
179	Flint, MI22420	46	NeutralNeutral	▲ 1	87	74	6	30	27	53	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price87 Permits74 Per Cap6 Afford30 Employ27 Migr53 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
179	Minneapolis, MN-WI33460	46	NeutralNeutral	▲ 4	44	36	48	8	38	100	Stable↑	Balanced—	Moderate	Expansion	—	—	—	Mod	—	›
Structural Drivers Price44 Permits36 Per Cap48 Afford8 Employ38 Migr100 LiqStable↑ ValBalanced— DivergModerate CycleExpansion Full metro detail →
179	Idaho Falls, ID26820	46	NeutralNeutral	▼ 14	34	2	90	66	41	40	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Con	—	›
Structural Drivers Price34 Permits2 Per Cap90 Afford66 Employ41 Migr40 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
185	Tampa, FL45300	46	NeutralNeutral	▲ 10	13	65	77	100	22	1	Stable↓	Balanced↑	Moderate	Expansion	—	—	—	Div	—	›
Structural Drivers Price13 Permits65 Per Cap77 Afford100 Employ22 Migr1 LiqStable↓ ValBalanced↑ DivergModerate CycleExpansion Full metro detail →
192	Hanford, CA25260	45	NeutralNeutral	▼ 10	27	4	39	46	93	59	Stable↓	Balanced↓	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price27 Permits4 Per Cap39 Afford46 Employ93 Migr59 LiqStable↓ ValBalanced↓ CycleRecovery Full metro detail →
192	Winston, NC49180	45	NeutralNeutral	▼ 1	62	25	76	58	20	31	Stress—	Balanced—	High	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price62 Permits25 Per Cap76 Afford58 Employ20 Migr31 LiqStress— ValBalanced— DivergHigh CycleHypersupply Full metro detail →
192	Albuquerque, NM10740	45	NeutralNeutral	▲ 5	34	52	38	19	60	67	Stable—	Balanced—	Low	Recovery	—	—	—	Con	—	›
Structural Drivers Price34 Permits52 Per Cap38 Afford19 Employ60 Migr67 LiqStable— ValBalanced— DivergLow CycleRecovery Full metro detail →
192	Erie, PA21500	45	NeutralNeutral	▼ 9	100	8	4	45	36	75	Watch↑	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price100 Permits8 Per Cap4 Afford45 Employ36 Migr75 LiqWatch↑ ValBalanced— CycleHypersupply Full metro detail →
192	Port St. Lucie, FL38940	45	NeutralNeutral	▼ 2	16	29	90	91	40	4	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price16 Permits29 Per Cap90 Afford91 Employ40 Migr4 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
197	Lancaster, PA29540	44	NeutralNeutral	▲ 12	94	62	34	20	14	37	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price94 Permits62 Per Cap34 Afford20 Employ14 Migr37 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
197	Las Vegas, NV29820	44	NeutralNeutral	▼ 2	1	56	68	51	89	1	Stress↓	Balanced↓	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price1 Permits56 Per Cap68 Afford51 Employ89 Migr1 LiqStress↓ ValBalanced↓ CycleHypersupply Full metro detail →
197	Allentown, PA-NJ10900	44	NeutralNeutral	▼ 1	86	86	34	17	20	21	Stable↓	Balanced—	High	Expansion	—	—	—	Mod	—	›
Structural Drivers Price86 Permits86 Per Cap34 Afford17 Employ20 Migr21 LiqStable↓ ValBalanced— DivergHigh CycleExpansion Full metro detail →
197	Jackson, MS27140	44	NeutralNeutral	▲ 5	63	73	23	14	8	85	Stable↑	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price63 Permits73 Per Cap23 Afford14 Employ8 Migr85 LiqStable↑ ValBalanced— DivergModerate CycleExpansion Full metro detail →
197	Salinas, CA41500	44	NeutralNeutral	▲ 8	34	94	17	58	32	32	Stable↓	Balanced↑	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price34 Permits94 Per Cap17 Afford58 Employ32 Migr32 LiqStable↓ ValBalanced↑ CycleRecovery Full metro detail →
197	Naples, FL34940	44	NeutralNeutral	▼ 4	0	15	78	89	81	1	Stable↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price0 Permits15 Per Cap78 Afford89 Employ81 Migr1 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
197	Amherst Town, MA11200	44	NeutralNeutral	—	75	20	13	42	44	71	—	—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price75 Permits20 Per Cap13 Afford42 Employ44 Migr71 CycleExpansion Full metro detail →
201	Chicago, IL-IN16980	45	NeutralNeutral	▼ 9	80	41	15	1	36	99	Stable—	Balanced—	Low	Expansion	—	—	—	—	—	›
Structural Drivers Price80 Permits41 Per Cap15 Afford1 Employ36 Migr99 LiqStable— ValBalanced— DivergLow CycleExpansion Full metro detail →
204	Pittsburgh, PA38300	43	NeutralNeutral	▲ 3	64	27	22	28	19	99	Stable↓	Balanced—	Moderate	Expansion	—	—	—	Div	—	›
Structural Drivers Price64 Permits27 Per Cap22 Afford28 Employ19 Migr99 LiqStable↓ ValBalanced— DivergModerate CycleExpansion Full metro detail →
204	Columbus, GA-AL17980	43	NeutralNeutral	▼ 11	79	15	17	42	29	75	Stable—	Balanced—	Low	Recovery	—	—	—	—	—	›
Structural Drivers Price79 Permits15 Per Cap17 Afford42 Employ29 Migr75 LiqStable— ValBalanced— DivergLow CycleRecovery Full metro detail →
204	Scranton, PA42540	43	NeutralNeutral	▲ 2	79	55	5	43	27	49	Stable↓	Balanced↓	High	Recovery	—	—	—	Mod	—	›
Structural Drivers Price79 Permits55 Per Cap5 Afford43 Employ27 Migr49 LiqStable↓ ValBalanced↓ DivergHigh CycleRecovery Full metro detail →
204	Akron, OH10420	43	NeutralNeutral	▼ 5	77	6	7	10	72	88	Stable↑	Balanced—	—	Expansion	—	—	—	Div	—	›
Structural Drivers Price77 Permits6 Per Cap7 Afford10 Employ72 Migr88 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
204	Beaumont, TX13140	43	NeutralNeutral	▲ 8	14	47	28	44	44	83	Stable—	Balanced—	Low	Expansion	—	—	—	Mod	—	›
Structural Drivers Price14 Permits47 Per Cap28 Afford44 Employ44 Migr83 LiqStable— ValBalanced— DivergLow CycleExpansion Full metro detail →
204	Barnstable Town, MA12700	43	NeutralNeutral	▼ 8	44	10	36	97	58	15	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price44 Permits10 Per Cap36 Afford97 Employ58 Migr15 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
204	Jacksonville, FL27260	43	NeutralNeutral	▲ 5	28	27	83	85	34	2	Stable↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price28 Permits27 Per Cap83 Afford85 Employ34 Migr2 LiqStable↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
204	Ocala, FL36100	43	NeutralNeutral	▼ 11	1	25	97	95	32	9	Stress↓	Balanced—	—	Hypersupply	—	—	—	Mod	—	›
Structural Drivers Price1 Permits25 Per Cap97 Afford95 Employ32 Migr9 LiqStress↓ ValBalanced— CycleHypersupply Full metro detail →
212	Dover, DE20100	42	NeutralNeutral	▼ 16	38	59	75	13	38	30	Stable↓	Balanced↓	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price38 Permits59 Per Cap75 Afford13 Employ38 Migr30 LiqStable↓ ValBalanced↓ CycleRecovery Full metro detail →
212	Columbia, MO17860	42	NeutralNeutral	▼ 19	26	3	48	16	83	76	Stable↓	Balanced↓	High	Recovery	—	—	—	—	—	›
Structural Drivers Price26 Permits3 Per Cap48 Afford16 Employ83 Migr76 LiqStable↓ ValBalanced↓ DivergHigh CycleRecovery Full metro detail →
212	Jefferson City, MO27620	42	NeutralNeutral	▼ 5	89	52	10	37	7	56	Stable↑	Balanced—	High	Expansion	—	—	—	—	—	›
Structural Drivers Price89 Permits52 Per Cap10 Afford37 Employ7 Migr56 LiqStable↑ ValBalanced— DivergHigh CycleExpansion Full metro detail →
212	Manchester, NH31700	42	NeutralNeutral	▲ 10	90	4	13	36	53	55	Watch↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price90 Permits4 Per Cap13 Afford36 Employ53 Migr55 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
212	Riverside, CA40140	42	NeutralNeutral	▲ 4	23	49	39	82	54	7	Stable↓	Balanced—	—	Recovery	—	—	—	Mod	—	›
Structural Drivers Price23 Permits49 Per Cap39 Afford82 Employ54 Migr7 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
212	Vineland, NJ47220	42	NeutralNeutral	▼ 13	60	50	9	63	14	53	Stable↑	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price60 Permits50 Per Cap9 Afford63 Employ14 Migr53 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
212	Springfield, IL44100	42	NeutralNeutral	▼ 2	81	10	3	0	91	68	Stable↓	Balanced—	—	Recovery	—	—	—	Con	—	›
Structural Drivers Price81 Permits10 Per Cap3 Afford0 Employ91 Migr68 LiqStable↓ ValBalanced— CycleRecovery Full metro detail →
212	Little Rock, AR30780	42	NeutralNeutral	▲ 2	32	84	52	22	20	45	Stable—	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price32 Permits84 Per Cap52 Afford22 Employ20 Migr45 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
212	Memphis, TN-MS-AR32820	42	NeutralNeutral	▼ 7	24	17	29	21	60	98	Stable—	Balanced—	Moderate	Expansion	—	—	—	—	—	›
Structural Drivers Price24 Permits17 Per Cap29 Afford21 Employ60 Migr98 LiqStable— ValBalanced— DivergModerate CycleExpansion Full metro detail →
212	Phoenix, AZ38060	42	NeutralNeutral	▼ 4	25	33	83	88	25	0	Watch↓	Balanced—	—	Recovery	—	—	—	Div	—	›
Structural Drivers Price25 Permits33 Per Cap83 Afford88 Employ25 Migr0 LiqWatch↓ ValBalanced— CycleRecovery Full metro detail →
212	Augusta, GA-SC12260	42	NeutralNeutral	▼ 10	53	22	70	38	15	57	Stress↑	Balanced—	Low	Recession	—	—	—	Con	—	›
Structural Drivers Price53 Permits22 Per Cap70 Afford38 Employ15 Migr57 LiqStress↑ ValBalanced— DivergLow CycleRecession Full metro detail →
223	Hagerstown, MD-WV25180	41	NeutralNeutral	▼ 15	18	39	64	16	91	20	Watch↓	Balanced—	Moderate	Recovery	—	—	—	Mod	—	›
Structural Drivers Price18 Permits39 Per Cap64 Afford16 Employ91 Migr20 LiqWatch↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
223	Hartford, CT25540	41	NeutralNeutral	▼ 4	81	8	7	2	53	95	Stable↑	Balanced—	—	Expansion	—	—	—	Div	—	›
Structural Drivers Price81 Permits8 Per Cap7 Afford2 Employ53 Migr95 LiqStable↑ ValBalanced— CycleExpansion Full metro detail →
223	Charleston, SC16700	41	NeutralNeutral	▼ 6	13	31	89	99	11	3	Watch↓	Balanced—	Moderate	Recovery	—	—	—	Div	—	›
Structural Drivers Price13 Permits31 Per Cap89 Afford99 Employ11 Migr3 LiqWatch↓ ValBalanced— DivergModerate CycleRecovery Full metro detail →
223	Warner Robins, GA47580	41	NeutralNeutral	▼ 14	6	13	74	6	95	50	Stress↑	Balanced↓	—	Recession	—	—	—	Con	—	›
Structural Drivers Price6 Permits13 Per Cap74 Afford6 Employ95 Migr50 LiqStress↑ ValBalanced↓ CycleRecession Full metro detail →
223	York, PA49620	41	NeutralNeutral	▼ 2	37	82	44	9	48	24	Stable↓	Balanced↓	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price37 Permits82 Per Cap44 Afford9 Employ48 Migr24 LiqStable↓ ValBalanced↓ CycleExpansion Full metro detail →
223	Huntsville, AL26620	41	NeutralNeutral	▲ 10	68	30	88	10	33	19	Stable—	Balanced—	—	Expansion	—	—	—	Mod	—	›
Structural Drivers Price68 Permits30 Per Cap88 Afford10 Employ33 Migr19 LiqStable— ValBalanced— CycleExpansion Full metro detail →

201 of 287 metros shown