Real Estate: The best - and the worst - of 2007

It was a brutal year for housing - but not all markets are ailing.

By Les Christie, CNNMoney.com staff writer

Top 5 affordable markets (all cities)
City	Median income	Median price	% affordable homes
Kokomo, IN	$59,700	$97,000	90.5%
Indianapolis, IN	$63,800	$117,000	87.5%
Bay City, MI	$54,400	$88,000	87.4%
Lansing, MI	$64,000	$105,000	87.2%
Davenport, IA	$57,200	$87,000	86.4%

Source: Wells Fargo and the National Association of Home Builders

3 of 9

Most affordable major city

Indianapolis, Ind.

Key stat: 87.5% of homes sold in Indianapolis during the third quarter were affordable to families earning the median income for the area ($63,800).

That's according to an index compiled by Wells Fargo and the National Association of Home Builders, which compares housing prices with income. A smaller city, Kokomo, Ind., was even more affordable, with 90.5% of homes sold there open to those earning the area's median household income.

Last updated December 28 2007: 2:29 PM ET

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