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

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

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
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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