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Rank: 1
Detroit Metro (Mich.)
Own/rent ratio: 94%
Annual cost to own: $8,519
Annual cost to rent: $9,072
Detroit is best known as the home of the Big Three automakers: General Motors, Ford, and Chrysler. The city has been hard-hit by the recession because of its dependence on the struggling auto industry. Detroit was the 11th largest metropolitan area as of 2007, with a population of nearly 4.5 million. It had and unemployment rate of 17.1% in June, the worst of any metropolitan area with a population over one million.
