Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

7 of 10
BACKNEXT
2nd place: San Francisco
2nd place: San Francisco
$738,000 for this two-bed, one-bath home that is just feet from Stern Grove Park in San Francisco.
Median home price: $598,000
Median income: $96,800
Affordability score: 23.6% Home prices in the Bay Area have dropped steeply since the heady days of 2006, when the median house sold for $769,000, according to the NAHB-Wells Fargo Housing Opportunity Index. Now the median home is only $580,000.

That's still a lot, even though the area's median income of $96,800 is among the highest in the nation; only 26.9% of families can comfortably afford the price of the median home sold there during the third quarter of the year.

Foreclosures have become a huge problem in the Bay Area. RealtyTrac figures show a total of more than 55,000 homes with filings in 2009 through Sept. 30.

NEXT: 3rd place: Honolulu
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
The 7 biggest investment mistakes celebrities make From betting too heavily on real estate to overestimating future earnings, here are 7 of the most common money mistakes that celebrities make. More
Cotton candy, toothpicks, pet gel -- these products are all made from marijuana Legal cannabis, an estimated $5.4 billion industry, is drawing in entrepreneurs with a variety of innovative products -- from skin patches to pain relief gel for pets. More
Coolest hotel bars for business travelers CNNMoney asked two concierge services for high-flying business people what hotel bars they'd recommend in 5 major U.S. cities. Here are their favorite spots. More

Special Offer