Although homeowners throughout the United States continue to face economic hardship and a wide range of foreclosures, a major newspaper has said Madison is one of the lowest risk housing markets in the country.

According to a study from the Wall Street Journal, Madison ranks as one of the most “low-risk” cities for foreclosures and home prices in the entire country. The study said there is a 20.7 percent risk of home price decline in the Madison area, with home values increasing 1 percent over a five year period.

For comparison, the Journal story said home prices in cities including Miami and Jacksonville, Fla. along with Los Angeles had an over 99 percent chance of declining, making them some of the highest risk real-estate markets in the country.

Rachel Strauch-Nelson, spokesperson for Mayor Dave Cieslewicz, said Madison has weathered the current economic climate better than many other cities throughout the country.

“We still see the effects of the recession here,” Strauch-Nelson said. “Home values decreased slightly this year but less than most cities around the country…I can’t find another city that maintained its [home] values as well as Madison did.”

Area real estate agent David Stark said Madison has a stable employment base with the state government and University of Wisconsin providing many regional jobs, which helps maintain property values.

“The university and state government have always contributed to a strong economy here,” Stark said. “We’ve seen the velocity of sales come down considerably here-I think there’s a fair amount of uncertainty among consumers about what’s happening.”

Stark added the rate of home construction in the area has also decreased, but the economic fundamentals for homeowners have been positive.

Other Midwestern cities on the list include Des Moines, Iowa and Omaha, Neb. Some of the highest risk cities included major metropolitan areas concentrated in the Southwest and Florida, including Miami, Los Angeles and Las Vegas, Nev.

Additionally, many of the safest cities on the list were college towns or state capitals similar to Madison. Boulder, Colo., home to the University of Colorado, had a 26 percent risk factor, while Little Rock, Ark. punched in at a 7.5 percent risk of price decline.