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
Five most expensive cars sold at Pebble Beach These classic cars went for seven figure sums at the world's premier classic car event. More
Seats that move! Rain! Movie-watching goes beyond 3D How can movie theaters compete when many prefer to watch streaming video from their own comfy couches? Some hope a new interactive technology will lure audiences with immersive effects. More
15 cool cars for sale at Pebble Beach While these events are best known for seven-figure classics, just about everything crosses the block at Pebble Beach. More

Special Offer