Median home price:
$84,000 Median income:
$57,100 Affordability score:
Detroit is transitioning from the leading manufacturing city of the land, the erstwhile "Arsenal of Democracy," into a leaner, more diversified economy. The metro area's unemployment picture has darkened significantly in recent months and in September stood at 17.3%, nearly twice the national average.
Metro Detroit home prices, pushed down by continued high foreclosure rates, shrank to a median of $86,000 during the third quarter of 2009. That was down from $145,000 back in 2005.
Even though the median family income is a modest $57,100, 94% of all homes sold during the quarter were affordable for the average household. NEXT: 4th place: Warren, Mich