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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Housing Markets With Great Bargains (If You're Really Planning to Stay)

Fourth-most-undervalued market: Akron, Ohio
How much prices lag fundamentals:
20.6%

Located just 40 miles south of Cleveland, Akron has a housing sector that suffers from many of the same problems its counterpart to the north faces.

"The decline of manufacturing has pulled prices down [in] many Rust Belt markets," Kolko says.

Trulia estimates that Akron home prices have dropped to 20.6% below what market fundamentals justify -- a big reversal from 2005, when valuations peaked at 19% above fair value.

But while long-term economic problems make Akron iffy for investors, Kolko says buying a home there looks like a good option for local consumers. Trulia estimates Rubber City residents can save 56% over seven years by buying properties to live in rather than renting.

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