The National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index has released a list of the 10 Most Affordable Housing Markets in the U.S. If you are looking for a quiet neighborhood that is just within your budget, take advantage of the list. Buy your own home without having to spend too much.
1. Indianapolis-Carmel, Ind.
Median home price: $108,000
Median household income: $65,100
Share of homes affordable to median-income families: 91.6%
Share of affordable homes in Q2 1998: 73.1%
2. Youngstown-Warren-Boardman, Ohio-Pa.
Median home price: $77,000
Median household income: $52,000
Share of homes affordable to median-income families: 90.1%
Share of affordable homes in Q2 1998: 80.1%
3. Detroit-Livonia-Dearborn, Mich.
Median home price: $92,000
Median household income: $54,400
Share of homes affordable to median-income families: 88.4%
Share of affordable homes in Q2 1998: 62.8%
4. Warren-Troy-Farmington Hills, Mich.
Median home price: $140,000
Median household income: $78,800
Share of homes affordable to median-income families: 86.8%
Share of affordable homes in Q2 1998: N/A
5. Grand Rapids-Wyoming, Mich.
Median home price: $112,000
Median household income: $59,200
Share of homes affordable to median-income families: 86.3%
Share of affordable homes in Q2 1998: 74.8%
6. Toledo, Ohio
Median home price: $104,000
Median household income: $60,100
Share of homes affordable to median-income families: 85.5%
Share of affordable homes in Q2 1998: 77.3%
7. Dayton, Ohio
Median home price: $102,000
Median household income: $59,800
Share of homes affordable to median-income families: 85.4%
Share of affordable homes in Q2 1998: 83.8%
8. Akron, Ohio
Median home price: $100,000
Median household income: $61,700
Share of homes affordable to median-income families: 84.5%
Share of affordable homes in Q2 1998: 69.6%
9. Syracuse, N.Y.
Median home price: $98,000
Median household income: $61,000
Share of homes affordable to median-income families: 84.2%
Share of affordable homes in Q2 1998: 83.6%
10. Scranton/Wilkes-Barre, Pa.
Median home price: $91,000
Median household income: $54,700
Share of homes affordable to median-income families: 82.5%
Share of affordable homes in Q2 1998: N/A
Source: National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index
Image: Google Maps
Labels: USA Blogging
1 Comments:
Recession and economic slow down is dealing no good to us. People are on the lookout for economic signs. Economic signs aren't normally paid attention to when things are boom, but are under the microscope when bust. DP, or Gross Domestic Product is a biggie. Home sales and house prices are also important, so are unemployment rates – and their declines have all slowed. Since most manufacturing (or production) has dipped, unemployment will continue to rise. (That's called Okun's Law, but its veracity is disputed.) Not many businesses have extra cash, or people for that matter. Most experts are predicting a recovery that will start soon, and complete by 2011. Despite the economic signs that the decline has slowed, many are out of work, and few secured loan can be had.
August 22, 2009 3:52 AM
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