How the Real Estate Market Was Impacted in These 25 Places Hit Hard by COVID-19
With a slow COVID-19 vaccine rollout in the U.S. and the country still divided on whether to wear masks and socially distance, the coronavirus pandemic has not yet begun to slow in the United States as we near the one-year anniversary of early shelter-in-place orders. Countrywide, over 28 million cases and more than 498,000 deaths have been reported, according to The New York Times. Rising cases have driven many people to sell their homes and flee to less COVID-19-impacted cities.
Read: What Homes Will Be Worth in Your State by the End of 2021
GOBankingRates used USAFacts data to find 25 counties with the highest known COVID-19 cases as of Jan. 21, 2021, and 25 counties with the highest known total deaths caused by COVID-19 as of Jan. 21, 2021. We then looked up the Feb. 29, 2020, home value and the Dec. 31, 2020, home value to show a change in home values. While the home value increased in many of these counties, like Queens County, New York, and Cook County, Illinois, that increase was very small.
Here are the 25 counties hardest hit by COVID-19 and its impact on the real estate market.
Last updated: Feb. 23, 2021
Franklin County, Ohio
County population: 1,316,756
Total Cases as of Jan. 21, 2021: 100,046
Feb. 29, 2020 home value: $215,141
Dec. 31, 2020 home value: $236,194
% change in home value: 9.79%
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Palm Beach County, Florida
County population: 1,496,770
Total Cases as of Jan. 21, 2021: 100,208
Feb. 29, 2020 home value: $340,192
Dec. 31, 2020 home value: $362,538
% change in home value: 6.57%
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Philadelphia County, Pennsylvania
County population: 1,584,064
Total Cases as of Jan. 21, 2021: 100,356
Feb. 29, 2020 home value: $183,221
Dec. 31, 2020 home value: $202,261
% change in home value: 10.39%
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Milwaukee County, Wisconsin
County population: 945,726
Total Cases as of Jan. 21, 2021: 100,680
Feb. 29, 2020 home value: $152,675
Dec. 31, 2020 home value: $169,945
% change in home value: 11.31%
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Bronx County, New York
County population: 1,418,207
Total Cases as of Jan. 21, 2021: 104,103
Feb. 29, 2020 home value: $532,983
Dec. 31, 2020 home value: $561,057
% change in home value: 5.27%
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El Paso County, Texas
County population: 839,238
Total Cases as of Jan. 21, 2021: 108,561
Feb. 29, 2020 home value: $135,917
Dec. 31, 2020 home value: $147,430
% change in home value: 8.47%
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Nassau County, New York
County population: 1,356,924
Total Cases as of Jan. 21, 2021: 117,371
Feb. 29, 2020 home value: $571,268
Dec. 31, 2020 home value: $606,053
% change in home value: 6.09%
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Salt Lake County, Utah
County population: 1,160,437
Total Cases as of Jan. 21, 2021: 124,688
Feb. 29, 2020 home value: $399,002
Dec. 31, 2020 home value: $449,360
% change in home value: 12.62%
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Suffolk County, New York
County population: 1,476,601
Total Cases as of Jan. 21, 2021: 131,309
Feb. 29, 2020 home value: $555,130
Dec. 31, 2020 home value: $612,374
% change in home value: 10.31%
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Kings County, New York
County population: 2,559,903
Total Cases as of Jan. 21, 2021: 155,424
Feb. 29, 2020 home value: $823,567
Dec. 31, 2020 home value: $851,615
% change in home value: 3.41%
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Bexar County, Texas
County population: 2,003,554
Total Cases as of Jan. 21, 2021: 155,588
Feb. 29, 2020 home value: $194,991
Dec. 31, 2020 home value: $206,243
% change in home value: 5.77%
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Queens County, New York
County population: 2,253,858
Total Cases as of Jan. 21, 2021: 158,865
Feb. 29, 2020 home value: $711,439
Dec. 31, 2020 home value: $730,656
% change in home value: 2.70%
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Broward County, Florida
County population: 1,952,778
Total Cases as of Jan. 21, 2021: 162,720
Feb. 29, 2020 home value: $339,330
Dec. 31, 2020 home value: $364,393
% change in home value: 7.39%
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Tarrant County, Texas
County population: 2,102,515
Total Cases as of Jan. 21, 2021: 199,521
Feb. 29, 2020 home value: $226,983
Dec. 31, 2020 home value: $242,536
% change in home value: 6.85%
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Clark County, Nevada
County population: 2,266,715
Total Cases as of Jan. 21, 2021: 204,369
Feb. 29, 2020 home value: $305,996
Dec. 31, 2020 home value: $327,304
% change in home value: 6.96%
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Orange County, California
County population: 3,175,692
Total Cases as of Jan. 21, 2021: 216,893
Feb. 29, 2020 home value: $794,041
Dec. 31, 2020 home value: $852,272
% change in home value: 7.33%
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San Diego County, CA
County population: 3,338,330
Total Cases as of Jan. 21, 2021: 218,553
Feb. 29, 2020 home value: $640,218
Dec. 31, 2020 home value: $713,471
% change in home value: 11.44%
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Dallas County, Texas
County population: 2,635,516
Total Cases as of Jan. 21, 2021: 239,683
Feb. 29, 2020 home value: $219,499
Dec. 31, 2020 home value: $238,710
% change in home value: 8.75%
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Riverside County, California
County population: 2,470,546
Total Cases as of Jan. 21, 2021: 248,686
Feb. 29, 2020 home value: $411,002
Dec. 31, 2020 home value: $449,862
% change in home value: 9.45%
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San Bernadino County, California
County population: 2,180,085
Total Cases as of Jan. 21, 2021: 255,921
Feb. 29, 2020 home value: $374,427
Dec. 31, 2020 home value: $413,231
% change in home value: 10.36%
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Harris County, Texas
County population: 4,713,325
Total Cases as of Jan. 21, 2021: 290,249
Feb. 29, 2020 home value: $201,577
Dec. 31, 2020 home value: $215,609
% change in home value: 6.96%
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Miami-Dade County, Florida
County population: 2,716,940
Total Cases as of Jan. 21, 2021: 352,495
Feb. 29, 2020 home value: $354,745
Dec. 31, 2020 home value: $377,003
% change in home value: 6.27%
See: 20 Key Signs That Your House Is Losing Value
Maricopa County, Arizona
County population: 4,485,414
Total Cases as of Jan. 21, 2021: 434,337
Feb. 29, 2020 home value: $303,808
Dec. 31, 2020 home value: $345,093
% change in home value: 13.59%
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Cook County, Illinois
County population: 5,150,233
Total Cases as of Jan. 21, 2021: 439,118
Feb. 29, 2020 home value: $253,906
Dec. 31, 2020 home value: $269,802
% change in home value: 6.26%
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Los Angeles County, California
County population: 10,039,107
Total Cases as of Jan. 21, 2021: 1,015,608
Feb. 29, 2020 home value: $671,012
Dec. 31, 2020 home value: $728,937
% change in home value: 8.63%
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Methodology: In order to find the 50 places hit hardest by COVID-19 and its effect on the real estate market, GOBankingRates first used USAFacts data to find (1) 25 counties with the highest known COVID-19 cases as of Jan. 21, 2021, and (2) 25 counties with the highest known total deaths caused by COVID-19 as of Jan. 21, 2021. GOBankingRates then found for each of those 50 counties (3) the Feb. 29, 2020 home value; (4) the Dec. 31, 2020 home value; (5) the change in home value from February to December 2020; and (6)the percent change in home value from February to December 2020. All data was collected on and up to date as of Jan. 22, 2021.
This article originally appeared on GOBankingRates.com: How the Real Estate Market Was Impacted in These 25 Places Hit Hard by COVID-19