Most (And Least) Affordable Cities To Buy A House

by admin on February 23, 2010

Stephen M. FellsAfter my blog about America’s 20 Most Miserable Cities I thought the following CNNMoney.com report; “ the most (and least) affordable cities to buy a house“, would be an interesting follow on :)

On the most affordable list we have:

1. Indianapolis, IN
Median home price: $106,000
Median income: $68,100
Affordability score: 95.7%

2. Detroit, MI
Median home price: $86,000
Median income: $57,100
Affordability score: 93.4%

3. Dayton, OH
Median home price: $106,400
Median income: $62,100
Affordability score: 93.2%

4. Youngstown, OH
Median home price: $76,000
Median income: $54,300
Affordability score: 93%

5. Akron, OH
Median home price: $100,000
Median income: $65,000
Affordability score: 92.2%

One can’t help but notice that people living in Ohio and Michigan have cities on both the ‘most miserable’ list and ‘most affordable’. It seems there are some benefits to living in these States :)

And the least affordable?

1. New York, NY
Median home price: $425,000
Median income: $64,800
Affordability score: 19.7%

2. San Francisco, CA
Median home price: $625,000
Median income: $96,800
Affordability score: 22.3%

3. Honolulu, HI
Median home price: $450,000
Median income: $79,300
Affordability score: 33.8%

4. Santa Ana, CA
Median home price: $435,000
Median income: $86,100
Affordability score: 34.5%

5. Los Angeles, CA
Median home price: $320,000
Median income: $62,100
Affordability score: 36.8%

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