10 of 10
BACKNEXT
Fifth place: Los Angeles
Fifth place: Los Angeles
Close to Venice, this 2-bedroom house is a relative bargain for pricey L.A. at just $529,000.
Median home price: $320,000
Median income: $62,100
Affordability score: 36.8%

As the City of Angels filled in and up, with the population exploding to nearly 4 million in town and 13 million in the metro area, the city has mostly run out of land to build on. That has led to much higher development costs and home prices.

Still, L.A. values have fallen far from the bubble years, off nearly 40% since mid-2006. Affordability is improved as well, with 36.8% of homes sold falling in a range that median income earners could comfortably pay for.

With prices much lower and unemployment at 11.3%, many area homeowners are having a tough time staying out of foreclosure; there were filings on nearly 176,000 homes last year, the highest total for any metro area.

All those properties coming back on the market has depressed prices that would otherwise be far less affordable than they are now.



NEXT
Last updated February 19 2010: 7:45 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)
More Galleries
50 years of the Ford Mustang Take a drive down memory lane with our favorite photos of the car through the years. More
Cool cars from the New York Auto Show These are some of the most interesting new models and concept vehicles from the Big Apple's car show. More
8 CEOs who took a pay cut in 2013 Median CEO pay inched up 9% in 2013 to $13.9 million. But not everyone got a bump last year. Here are eight CEOs who missed out. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.