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.

9 of 10
BACKNEXT
4th place: Santa Ana, Calif.
4th place: Santa Ana, Calif.
$1.2 million buys a three-bed, three-bath in Santa Ana.
Median home price: $411,000
Median income: $86,100
Affordability score: 37.6%

Many of the booming Orange County economies were driven by the once-swelling housing bubble. Thousands of jobs were created in construction, the real estate industry, retail and mortgage lending. Once that bubble burst, a lot of these jobs rapidly disappeared.

The Bureau of Labor Statistics counts Santa Ana as part of the Los Angeles metro area for calculating unemployment rate and that, at 11.9% in September, was above the national average.

Home prices have dropped substantially from the high they hit back in mid-2006, when the median Santa Ana home sold for $630,000.



NEXT: Nassau/Suffolk, N.Y.

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
'Spotlight' is just the latest edition of newspaper movies Here's a list of the best newspaper movies. More
Most valuable car collection ever auctioned In total, the 'Pinnacle Portfolio' is the most valuable group of cars from one collection ever sold in a single auction. More
This is how far robots have come since the 1930s Are robots catching up to humans? Yes. Should we be scared? Find out! More

Special Offer