Most (and least) affordable cities to buy a house

Here are the 5 metro areas where the average American family can easily afford to purchase a median-priced home - and the 5 where they can't.

1 of 10
BACKNEXT
Most affordable: Indianapolis
Most affordable: Indianapolis
This 4-bed, 2.5 bath in an Indianapolis suburb lists for $259,900.
Median home price: $106,000
Median income: $68,100
Affordability score: 95.7%

America's most affordable housing market is the 33rd largest metro area in the United States, with 1.7 million people.

The median family income is fairly high -- $68,100 -- and median home prices are a very reasonable $106,000, according to the National Association of Homebuilders and Wells Fargo Housing Opportunity Index.

Helping keep home prices depressed is a fairly virulent foreclosure plague: There were more than 18,400 properties with foreclosure filings during 2009.

The turmoil in the auto industry, which Indianapolis had been closely associated with, has hurt the city. But increased diversification, which has made pharmaceutical companies, banks government agencies and insurers all important employers, has helped keep job losses in check. The unemployment rate was just 8.5% in December, according to the Bureau of Labor Statistics, well below the national rate of 10% that month.
NEXT: Runner up: Detroit
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
7 epic gadget flops From the Microsoft Zune to the BlackBerry PlayBook, the Fire Phone is following in some unfortunate footsteps. More
What I gave up to save $1 million They may have million dollar-plus nest eggs, but they had to make some big sacrifices along the way to get there. Here's what these four savers did without in order to save seven-figures retirement. More
World's Top Employers for New Grads For an exclusive CNNMoney list, research firm Universum Global surveyed college students around the world to see where they most want to work. 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 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.