5 of 10
BACKNEXT
Grand Rapids, Mich.
Grand Rapids, Mich.
$129,800 for a three-bed, one-and-a-half bath house in Grand Rapids.
Median home price: $103,000
Median income: $63,100
Affordability score: 91.4% -- 5th best

The huge tracts of nearby hardwood forests that helped make Grand Rapids "furniture city" starting in the late 19th century are mostly gone, but the town is still a center for office-furniture manufacturing.

There is a lot of diversity outside of furniture, as well. Grand Rapids has some auto plants, which are seriously suffering, and has attracted some health science facilities, consumer goods manufacturers and aerospace products.

Foreclosure has not visited households as often as other cities in Michigan, but Grand Rapids has still garnered its fair share of the foreclosure plague. According to RealtyTrac, there were nearly 6,600 properties with foreclosure filings during the first nine months of 2009, a serious headwind for the housing market there.

NEXT: Least affordable: New York City
Last updated November 25 2009: 10:08 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: National Association of Homebuilders/Wells Fargo Housing Opportunity Index for the third quarter of 2009.
The NAHB judges a home to be affordable if a family making the metro area's median income could devote no more than 28% of their take-home pay toward housing costs.
More Galleries
15 execs who make more than their CEOs Sure, corporate chiefs' pay often is eye-poppingly high. But at some companies, executives lower down the ladder quietly out-earned their CEO bosses. More
Novelty gifts for people with money to burn For those who've got the cash, these holiday gifts can really make a statement. More
The best stocks of 2014 This year has been very solid for stocks, but these 6 were the best of the S&P 500. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.