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Looking to Relocate?04-08-13 | News

Looking to Relocate?






The Dallas-Fort Worth metro area has the best housing bargains among 30 U.S. metro areas. The report's complete data is detailed at https://bit.ly/107LMMp.
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ZipRealty, Inc. has released its list of the 10 most affordable housing markets of 2013. The rankings are based on two years of multiple listing service (MLS) and U.S. Census Bureau data.

The rankings are based on a ratio of a median home sale price in a metro area to the area's median household income. Thirty metro areas were analyzed. For instance, the price of a home in Washington, D.C. is 16.78 times the median income of that area, making it the most expensive city for home ownership in the U.S., while a median price home in the Dallas area is only 5.27 times the median income, making it the most affordable housing marking the U.S.

Yes, for those eyeing to move to a more affordable housing market, metropolitan areas in Texas and noncoastal regions are the best choices to find real estate bargains. Dallas-Fort Worth, Houston and Minneapolis-St. Paul top the list as the most affordable metropolitan areas; D.C., Brooklyn, and the San Francisco Bay Area are the most expensive.

10 Most Affordable Housing Markets (ratio of median home sales prices to median household income shown for each metro area)

1) Dallas-Fort Worth 5.27x
2) Houston    5.43x
3) Minneapolis  5.50x
4) Orlando  5.89x
5) Las Vegas    5.98x
6) Raleigh, N.C.     6.03x
7) Austin   6.13x
8) Denver  6.31x
9) Nashville   6.47x
10) Phoenix    6.59x

In preparing this report, ZipRealty found up to 30 percent of MLS listed homes for sale are missing from other prominent real estate websites, and over 15 percent of the listings are expired or inactive.

10 Most Expensive Housing Markets are:

1) Washington, D.C.

16.78x

2) Brooklyn, N.Y.  

16.58x

3) San Francisco Bay Area  

13.81x

4) San Diego   

13.60x

5) Los Angeles

13.52x

6) Miami 

12.11x

7) Orange County (California)    

10.63x

8) Boston

9.47x

9) Westchester (New York State)     

9.29x

10)   Baltimore  

8.56x







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