9 of 10
BACKNEXT
Fourth place: Santa Ana, Calif.
Fourth place: Santa Ana, Calif.
This precious 2-bedroom cottage in the Floral Park section of Santa Ana is a deal at $515,000.
Median home price: $435,000
Median income: $86,100
Affordability score: 34.5%

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 11.3% in December, 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. But prices rose to $435,000 during the final three months of 2009, up from $411,000.

That caused affordability to take a hit; only 34.5% of the homes sold were comfortably open to median-income earners. That was down from 37.6% three months earlier.



NEXT: Fifth place: Los Angeles
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
Yahoo: 20 years of hits and flops The company that once was Google turns 20. We look back at the many, many brands it has cycled through. Remember Geocities? Broadcast.com? More
10 big dot-com flops Remember Pets.com? The Nasdaq is roaring back towards its all-time high. Here are some of the biggest dot-com busts from the last time the Nasdaq topped 5,000. More
The hottest gadgets at Mobile World Congress 2015 Take a look at the devices creating a stir at the world's biggest mobile tech show. More

Special Offer