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.

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
'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