We recently moved and Find my iPhone on iPad and iPod give old home location.
Moved to a new home one month ago and iPad and iPod both show old location on find my iPhone. Wife and daughters iPhone are correct.
iPad 2
Moved to a new home one month ago and iPad and iPod both show old location on find my iPhone. Wife and daughters iPhone are correct.
iPad 2
Is your iPad WiFi only? Have you moved fairly close to your former home?
If so, try Settings > General > Reset > Reset Network Settings
The reasoning is the location is determined by roughly figuring out nearby WiFi information.
We moved about 5 miles away and even after the reset they both still think that they are at the old location. When I go to another location with WiFi it knows the difference then. I just has the problem at home. I have gone as far as resetting my router but no luck.
Here's an article about location services for iOS: http://support.apple.com/kb/HT1975
It could just be that you're in an area that does not provide such high quality location service data.
We recently moved and Find my iPhone on iPad and iPod give old home location.