5 Most Affordable Housing Markets
The most affordable city in the United States is Syracuse, N.Y., according to the latest Housing Affordability Index from the National Association of Home Builders and Wells Fargo.
The index considers a home affordable if a family would have to pay no more than 28 percent of take-home pay for housing expenses.
Here are the five areas where housing exceeds this benchmark and the median property prices:
· Syracuse, N.Y., $88,000
· Indianapolis, $113,000
· Detroit, $85,000
· Youngstown, Ohio, $74,000
· Buffalo, N.Y., $112,000
Source: CNNMoney.com, Les Christie (08/20/2010)
This has been Reprinted from REALTOR® magazine (REALTOR.org/realtormag http://www.realtor.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.