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No. 4 Worst Housing Market: Lehigh Acres, Fla.
Percentage change: -42.2
MSA: Fort Myers
Population: 86,784
Lehigh Acres is a "census-designated place" in the Fort Myers MSA. The area experienced a boom in new housing in the first years of the century, peaking at more than 7,500 new homes built in 2006, according to the New York Times. In 2009, sale prices of homes in Lehigh Acres were 80 percent off their peaks. Foreclosures have soared in the area, and unemployment in the county rose to 9.8 percent, from 3.5 percent in 2007. The median home value in the city is $63,700, as measured by the Zillow Home Value Index, and the median sale price as of Aug. 31 was $65,200.
Photographer: Stephanie Himango/NBC NewsWire via AP Images
MSA: Fort Myers
Population: 86,784
Lehigh Acres is a "census-designated place" in the Fort Myers MSA. The area experienced a boom in new housing in the first years of the century, peaking at more than 7,500 new homes built in 2006, according to the New York Times. In 2009, sale prices of homes in Lehigh Acres were 80 percent off their peaks. Foreclosures have soared in the area, and unemployment in the county rose to 9.8 percent, from 3.5 percent in 2007. The median home value in the city is $63,700, as measured by the Zillow Home Value Index, and the median sale price as of Aug. 31 was $65,200.
Photographer: Stephanie Himango/NBC NewsWire via AP Images
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