America’s Five Most Miserable Cities

0
903

See all the details here:
http://realestate.yahoo.com/promo/americas-most-miserable-cities-2011.html

Most Miserable Cities

No. 5 Sacramento, Calif.
Photo: AP Photo/Rich Pedroncelli

No. 5: Sacramento, Calif.
No state taxes $50,000 of income like California, with a rate of 9.55% for that middle-class tax bracket. Sacramento is a one-team sports town, and that team has been awful in recent years. The NBA’s Kings have won just 26% of their games the past two-plus seasons.

Most Miserable Cities

No. 4 Modesto, Calif.
Photo: Zuma Press/Newscom

No. 4: Modesto, Calif.
The median home was valued at $275,000 in 2006; today it is $95,000. And don’t leave your car on the street in Modesto, where 3,712 vehicles were stolen in 2009, making for the second-highest auto theft rate in the country. It ranked first in four of the previous five years.

Most Miserable Cities

No. 3 Merced, Calif.
Photo: Ben Arnoldy/Christian Science Monitor/Getty Images

No. 3: Merced, Calif.
The economic downturn and busted housing market hit Merced harder than any other area in the country. Average unemployment of 16.2% since 2008 is the highest in the U.S., as is the city’s 64% drop in median home prices.

Most Miserable Cities

No. 2 Miami, Fla.
Photo: Joe Raedle/Getty Images

No. 2: Miami, Fla.
The sun and lack of a state income tax are the only things keeping Miami out of the top spot. Foreclosures hit one in 14 homes last year. Corruption is also off the charts, with 404 government officials convicted of crimes this decade in South Florida.

Most Miserable Cities

No. 1 Stockton, Calif.
Photo: Kimberly White/Bloomberg via Getty Images

No. 1: Stockton, Calif.
Unemployment has averaged 14.3% the past three years, which is third worst in the country among the 200 largest metro areas. The housing market collapsed as well, with home prices down 58% over the same time. All the California cities on the list are struggling with the inherent problems the state is facing, including high sales and income taxes and service cuts to help close massive budget shortfalls.

Click here to see In Pictures: America’s 20 Most Miserable Cities

LEAVE A REPLY

Please enter your comment!
Please enter your name here