Hot Spots for Affordable Homes and Jobs

Unemployment is at record levels and 'For Sale' signs are adding up in neighborhood yards across the U.S.

But, some neighborhoods are doing better than others. Sure, soaring gas prices, failing banks, and plummeting financial markets affect us all, but some neighbors are less worried, especially in terms of local job markets.

To better discover places to consider moving to, MainStreet asked Realty Trac to compile a list of metropolitan areas with the least amount of foreclosures for the month of August, out of the 230 metro areas tracked by the real estate Web site. We also took a look at the average unemployment rates for the last six months and created a list for only those that fall below the national average between the time period of March through August.

Here are the results:

Honolulu, Hawaii
Median Home Price: $636,000
Foreclosure Rate: 1 out of every 3,139 homes
Unemployment Rate: 3.5%
Culture Watch: The Hawaii State Art Museum and the Contemporary Art Museum (http://www.tcmhi.org).

Syracuse, New York
Median Home Price: $123,600
Foreclosure Rate: 1 out of every 3,234
Unemployment Rate: 5.4
Culture Watch: The Everson Museum of Art and the International Mask and Puppet Museum.

Albany/Troy/Schenectady, New York
Median Home Price: $198,400
Foreclosure Rate: 1 out of every 3,287
Unemployment Rate: 4.9%
Culture Watch: The New York State Museum makes its home in the state capital, Albany.

Bloomington, Indiana
Median Home Price:
$152, 800
Foreclosure Rate: 1 out of every 3,931
Unemployment Rate: 4.9%
Culture Watch
: Kinsey Institute, which researches sex, gender and reproduction, is located in the city that is also home to Indiana University.

Lafayette, Louisiana
Median Home Price: N/A
Foreclosure Rate: 1 out of every 6,754
Unemployment Rate: 3.1%
Culture Watch:
The Cites De Arts and the Children’s Museum of Acadiana are two important cultural centers.

Tuscaloosa, Alabama

Median Home Price: N/A
Foreclosure Rate: 1 out of every 8,411
Unemployment rate: 4.2%
Culture Watch: Paul W. Bryant Museum is located on the campus of the nearby University of Alabama.

Baton Rouge, Louisiana

Median Home Price: $164,000
Foreclosure Rate: 1 out of every 12,478
Unemployment Rate: 4.2%
Culture Watch: Shaw Center for the Arts and the Louisiana State Museum.

Roanoke, Virginia
Median Home Price: N/A
Foreclosure Rate: 1 out of every 15,394
Unemployment rate: 4.0%
Culture Watch: The Art Museum of Western Virginia and the Virginia Museum of Transportation are a part of the town formerly known as the Big Lick.

Lynchburg, Virginia
Median Home Price: N/A
Foreclosure Rate: 1 out of every 21,260
Unemployment rate: 4.3%
Culture Watch: The Academy of Fine Arts and the Maier Museum of Art are housed in the city that is home to Randolph College.

Editor's Note: Home values are preliminary results from the National Association of Realtors (http://www.realtor.org/research/research/metroprice).

 

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