Fifth place: Grand Rapids, Mich.
A large three-bedroom outside Grand Rapids costs $179,900.
Median income: $62,500
Affordability score: 93.7%
This medium-sized, western Michigan city flourished during the 19th century by turning nearby hardwood forests into furniture. Golden oak cabinets, dining tables and chairs once crafted in the area can now be spotted in many an antique store around the nation. Today, it still is a leading manufacturer of office furniture.
The metro area, like much of the industrial Midwest, has seen better days. Besides furniture, it also had a robust auto manufacturing base, which has declined along with the rest of the industry. Grand Rapids economy is now more diversified with health services an important employer. Still, many people are out of work; the metro area's 12.8% unemployment rate is more than three percentage points higher than the national average.
The people who are employed make decent wages, over $62,000 for the median household, more than enough to afford a nice house. There are many hundreds of homes for sale in the metro area for less than $90,000.
NEXT: Least affordable: New York
Last updated May 24 2010: 1:00 PM ET
Source: National Association of Home Builders (NAHB) and Wells Fargo
