I would guess New Orleans would be a decent one for undersaturation of the market...while the golf courses are most certainly saturated.
I remember going there for a work conference (a couple years post-Katrina) and looking to play somewhere and there just weren't good public options. We ended up at Money Hill north of the Lake, an hour away.
There was a Golf Digest article about this a while back...# of golfers in major cities v. # of public courses within a certain distance...there was a grand list of every city over 75,000 people and how "saturated" each market was. I think Hoboken/Jersey City, NJ was #1 for "worst golf city"...but this is not surprising considering that area is hemmed in by more city/ocean/burbs. I consider "worst" as meaning "unsaturated."
After I wrote all that...here we go...
http://www.golfdigest.com/golf-courses/golf-travel/2007-05/bestgolfcities0508Top 5...Auburn/Opelika, AL....Johnson City/Bristol/Kingsport, TN/VA....Punta Gorda, FL...Youngstown/Warren, OH...Bloomington/Normal, IL
Bottom 5....Jersey City, NJ....NYC, NY...Bridgeport, CT...Anchorage, AK....Bergen/Passaic, NJ
Looks like they used # of golfers, # of courses, and weather.