Pay off mortgage or move to better area

[Ethan Bennett]

I am trying to decide which is the best option financially for myself and my family.  We live in an area that was pretty good when we first moved in(2006) but the past year or so, the area has started to decline.  Good people that lived in the area moved out and questionable people have moved in.  We never had a shooting in our neighborhood until this year and the number of crimes in our neighborhood went from 0 from 2006 to 2016, to 15 break-ins in 2016 alone.  

I realize that no matter where you go there will always be problems, but I have watched my area slowly die.  Stores shut down, armed security guards at the local grocery store etc.  

With that said, I am trying to weigh whether it would be better to move or focus and pay off our home.  If I were to pay it off it would take me another 4 years and putting extra payments each month during that time.  Or we could clean up the place and put it up for sale and look for a better area to live.

So many people have said the same thing "no matter where you go its bad", but I would hate to spend that 4 years putting that much money into my home and then having to move.   

Just so confused on the best option.  

[Geordy Rostad]

@Ethan Bennett

You really need to get to the bottom of why your area is declining. Is it something temporary that will blow over eventually and change? Or is it something more permanent like a huge factory or company has pulled out of the area and unemployment is rising, etc? Once you determine the cause of the decline, then you can make a more educated decision about whether to stay or leave.

Have property values continued to increase even while the livability has declined?