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Midwest Boasts Most Affordable Housing11-26-08 | News
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Midwest Boasts Most Affordable Housing




Youngstown, Ohio has joined traditional affordability champion Indianapolis, Ind. as the region with the most reasonably priced housing available. In addition to Ohio and Indiana, Michigan has several cities near the top of the affordability list.

If you are looking for an affordable home, the Midwest is the region that you need to visit.

According to the National Association of Home Builders, the two most affordable major housing markets in the country during the third quarter of the year were Indianapolis, Ind., and Youngstown, Ohio. In both Indianapolis and Youngstown, 91 percent of homes sold in the third quarter were affordable to families earning the areas?EUR??,,????'?????<

Also near the top of the list for affordable major metropolitan areas were Grand Rapids-Wyoming, Mich.; Warren-Troy-Farmington Hills, Mich.; and Detroit-Livonia-Dearborn, Mich., in that order.

The NAHB?EUR??,,????'?????<

One smaller metro market (fewer than 500,000 people) outranked all others in terms of housing affordability during the third quarter of 2008 ?EUR??,,????'?????<

New York-White Plains-Wayne, N.Y.-N.J., was the nation?EUR??,,????'?????<

Other major metro areas at the bottom of the housing affordability chart included San Francisco-San Mateo-Redwood City, Calif.; Nassau-Suffolk, N.Y.; Los Angeles-Long Beach-Glendale, Calif.; and Miami-Miami Beach- Kendall, Fla., in that order.

Among smaller metro areas, the other markets at the bottom of the affordability chart were San Luis Obispo-Paso Robles, Calif.; Santa Cruz-Watsonville, Calif.; Napa, Calif.; and Bend, Ore., respectively.

Source: NAHB

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