ESTATE


10 Most affordable cities to buy a home
2009/02/23, 8:34 pm
Filed under: 1 | Tags: ,

More people can afford a house today than in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

A family earning the national median income of $61,500 a year would be able to buy more than 60 percent of all homes sold in the last three months of 2008 by committing less than 28 percent of their total income toward paying the mortgage, the report found.

That figure is up 56.1 percent from the third quarter of 2008 and up 46.6 percent from what it was at the end of 2007.

According to the Index, the most affordable cities and their median prices are:

  1. Indianapolis, Ind., $103,000
  2. Warren, Mich. $125,000
  3. Youngstown, Ohio, $73,000
  4. Detroit, Mich., $90,000
  5. Grand Rapids, Mich. $102,000
  6. Syracuse, N.Y., $88,000
  7. Dayton, Ohio, $90,000
  8. Akron, Ohio, $90,000
  9. Cleveland, Ohio, $100,000
  10. Scranton, Pa., $85,000

Source: CNN, Les Christie (02/19/2009)

Advertisements

3 Comments so far
Leave a comment

[…] Original post by [Technorati] Tag results for real estate […]

Pingback by 10 Most affordable cities to buy a home · Real-Estate-Investing.ExplainedOnline.Net

[…] Original post by Panama Travel News […]

Pingback by 10 Most affordable cities to buy a home · Invest-In-Real-Estate.ExplainedOnline.Net

[…] Original post by mhanna43 […]

Pingback by 10 Most affordable cities to buy a home · Real-Estate.ExplainedOnline.Net




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: