“Unlocking the Mystery: Why These 14 US Cities Are Seeing a Surprising Surge in Vacant Homes”
What does the housing crisis look like in different cities- in terms of empty properties? Let’s take a look.
1. New Orleans, Louisiana
With 22.9% house vacancy, this Louisiana city wins the housing crisis competition. This is fuelled majorly by increased insurance premiums, property tax obligations, and construction expenses.
2. Shreveport, Lousiana
The commercial and industrial city of Shreveport, LA records a 16.0% housing vacancy. The rapid increase in housing costs is a major culprit.
3. Baton Rouge, Louisiana
A third city in Lousiana makes up the top 3 most vacant cities. Like other cities, the high insurance rate has contributed to Baton Rouge’s housing crisis. The housing vacancy stands at an unenviable 16.0%, according to Smart Asset.
4. St. George, Utah
Despite having a population growth of 18.5%, this booming town for outdoor enthusiasts still has 14.8% empty properties. The Spectrum notes that house rates doubled, while most salaried remained the same, leading to the crisis being witnessed. No one can afford to live there.
5. Cape Coral, Florida
Cape Floral witnessed an 18.4% property vacancy. The mass movement to other cities after a recent hurricane may be a major cause for this housing imbalance.
6. Enterprise, Nevada
This small city in the Las Vegas Valley of Nevada is experiencing over a 9% housing vacancy issue. This is due to the high inflation being experienced, as well as the skyrocketing house prices due to it’s proximity to the city that never sleeps.
