A scant five years after it was named both a “miserable” and “dying” city, Vallejo, Calif., is now the hottest real estate market in the nation.
Realtor.com tells the comeback story of Vallejo, a Bay Area city that was hit hard by a naval shipyard closure in 1996 and declared bankruptcy in 2008. Despite the high crime rates and shoddy school systems, buyers flocked to Vallejo in recent years because it was the best alternative.
Located only 30 miles from San Francisco and 60 miles from Sacramento, the median listing price for a house in Vallejo is $345,000, which is significantly cheaper than housing in most other Bay Area cities.
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