For example, at the bottom of the list is Flint, Michigan, where home values have been sliced by more than 57% — to $19,300 currently from $45,300 in 1999. Dayton, Ohio, has experienced a 10.8% drop, to $53,100 from $59,500.

While most areas have recovered from the housing crisis that caused home values to fall by more than 20% from 2007 through 2011, Zillow data shows that 8.2% of homeowners are underwater nationwide — that is, they own more on their mortgage than the home is worth.

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