Don’t Buy a House in these 20 Cities With the Most Closures of Stores and Businesses

When you think of where to buy a home , you may be thinking about the many aspects that factor into a city’s livability.

Learn More: 3 Best States to Buy Property in the Next 5 Years, According to Experts

Find Out: How To Get Rich in Real Estate Starting with Just $1,000

Is it safe? Is there good access to healthcare facilities? Does the public school system rank highly? These are all important elements to consider, but there’s one significant factor that may not come to mind: the rate of store and business closures.

A city with a robust and healthy economy typically has a thriving presence of stores and businesses. A city where businesses are shutting their doors or moving elsewhere indicates a kind of urban decay. In time, that decay can eat away at home prices in the area and reduce the value of your real estate investment.

GOBankingRates analyzed metropolitan statistical areas to find those with the most store closures. These are the 20 cities where we’re seeing businesses shut down at the highest rates. As such, you should think twice before buying a home here .

20. Detroit-Warren-Dearborn, Michigan

• Number of establishments: 88,045
• Number of establishments entry: 8,874
• Establishments entry rate: 10.01
• Number of establishments exit: 10,018
• Establishments exit rate: 11.31

Read Next: 6 Best Cities To Buy Property in the Next 5 Years, According to Real Estate Agents

Trending Now: 8 Places Where Houses Are Suddenly Major Bargains

Money mistakes the super wealthy never make - that you might be doing now.

19. Odessa, Texas

• Number of establishments: 3,473
• Number of establishments entry: 310
• Establishments entry rate: 8.81
• Number of establishments exit: 398
• Establishments exit rate: 11.32

For You: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents

18. Ithaca, New York

• Number of establishments: 2,011
• Number of establishments entry: 157
• Establishments entry rate: 7.66
• Number of establishments exit: 233
• Establishments exit rate: 11.37

17. El Centro, California

• Number of establishments: 88,045
• Number of establishments entry: 8,874
• Establishments entry rate: 10.01
• Number of establishments exit: 10,018
• Establishments exit rate: 11.31

16. Midland, Texas

• Number of establishments: 5,359
• Number of establishments entry: 516
• Establishments entry rate: 9.54
• Number of establishments exit: 618
• Establishments exit rate: 11.42

15. Boulder, Colorado

• Number of establishments: 11,271
• Number of establishments entry: 1,421
• Establishments entry rate: 12.69
• Number of establishments exit: 1,283
• Establishments exit rate: 11.31

Be Aware: 5 Worst Florida Cities To Buy Property in the Next 5 Years, According to Real Estate Agents

14. Las Vegas-Henderson-North Las Vegas, Nevada

• Number of establishments: 88,045
• Number of establishments entry: 8,874
• Establishments entry rate: 10.01
• Number of establishments exit: 4,993
• Establishments exit rate: 11.52

13. Oxnard-Thousand Oaks-Ventura, California

• Number of establishments: 18,921
• Number of establishments entry: 2,030
• Establishments entry rate: 10.68
• Number of establishments exit: 2,199
• Establishments exit rate: 11.57

12. Santa Cruz-Watsonville, California

• Number of establishments: 6,160
• Number of establishments entry: 577
• Establishments entry rate: 9.25
• Number of establishments exit: 728
• Establishments exit rate: 11.68

11. San Diego-Chula Vista-Carlsbad, California

• Number of establishments: 77,803
• Number of establishments entry: 8,998
• Establishments entry rate: 11.55
• Number of establishments exit: 9,197
• Establishments exit rate: 11.81

Consider This: 5 Types of Homes That Will Plummet in Value in 2024

10. Miami-Fort Lauderdale-West Palm Beach, Florida

• Number of establishments: 182,083
• Number of establishments entry: 28,658
• Establishments entry rate: 16.06
• Number of establishments exit: 21,294
• Establishments exit rate: 11.94

9. Urban Honolulu

• Number of establishments: 18,815
• Number of establishments entry: 1,502
• Establishments entry rate: 7.81
• Number of establishments exit: 2,318
• Establishments exit rate: 12.06

8. Trenton-Princeton, New Jersey

• Number of establishments: 8,594
• Number of establishments entry: 882
• Establishments entry rate: 10.16
• Number of establishments exit: 1,055
• Establishments exit rate: 12.15

7. Santa Fe, New Mexico

• Number of establishments: 4,128
• Number of establishments entry: 412
• Establishments entry rate: 9.84
• Number of establishments exit: 533
• Establishments exit rate: 12.73

Discover More: 10 Countries To Live Outside the US That Are So Cheap You Could Quit Your Job

6. San Jose-Sunnyvale-Santa Clara, California

• Number of establishments: 44,081
• Number of establishments entry: 4,593
• Establishments entry rate: 10.29
• Number of establishments exit: 5,736
• Establishments exit rate: 12.85

5. San Francisco-Oakland-Fremont, California

• Number of establishments: 116,335
• Number of establishments entry: 12,196
• Establishments entry rate: 10.34
• Number of establishments exit: 15,336
• Establishments exit rate: 13.01

4. Los Angeles-Long Beach-Anaheim, California

• Number of establishments: 331,901
• Number of establishments entry: 41,584
• Establishments entry rate: 12.48
• Number of establishments exit: 44,184
• Establishments exit rate: 13.26

3. New York-Newark-Jersey City, New York and New Jersey

• Number of establishments: 496,257
• Number of establishments entry: 53,784
• Establishments entry rate: 10.67
• Number of establishments exit: 69,373
• Establishments exit rate: 13.76

Check Out: These 5 Cities Are Becoming Unpopular With Baby Boomers: Here’s Why

2. Kahului-Wailuku, Hawaii

• Number of establishments: 4,180
• Number of establishments entry: 390
• Establishments entry rate: 9.11
• Number of establishments exit: 591
• Establishments exit rate: 13.81

1. Bloomsburg-Berwick, Pennsylvania

• Number of establishments: 1,675
• Number of establishments entry: 176
• Establishments entry rate: 10.32
• Number of establishments exit: 237
• Establishments exit rate: 13.90

Methodology. For this study, GOBankingRates analyzed metropolitan and micropolitan statistical areas to find the places with the most store closures. First GOBankingRates found establishment data to find the number of establishments, establishments entered, establishments exited, establishments entry rate and establishments exit rate all sourced from the U.S. Census Business Dynamics Statistics. Using the Bureau of Labor Statistics’ Office of Management and Budget data, the metropolitan and micropolitan statistical area codes can be related to their respective names. The areas are sorted to show the highest establishments exit rate by micropolitan and metropolitan areas. All data was collected on and is up to date as of Sept. 4th, 2024.

This article originally appeared on GOBankingRates.com : Don’t Buy a House in these 20 Cities With the Most Closures of Stores and Businesses