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.

6 of 10
BACKNEXT
6. Fresno, Calif.: Buy
Fresno, Calif.: Buy
Average list price: $154,000
Average annual rent: $11,200
Price to rent ratio: 8

Fresno was one of the Central Valley cities that boomed during the bubble. Prices there nearly tripled during the decade to a high of $307,000 in the second quarter of 2006, according to the National Association of Home Builders and Wells Fargo. Runaway prices had made home buying unaffordable for most Fresno residents.

Things have now overshot in the other direction as prices have dropped in half, giving the city a price-to-rent ratio of just over 8, making it the fourth most attractive city in the nation for buying.

Today, NAHB reports that 67% of the homes sold in the Fresno metro area are affordable to families earning the median household income there so many residents are now taking advantage of low prices to purchase.

NEXT: San Antonio: Buy
Last updated June 14 2010: 2:22 PM ET
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
More Galleries
The best gadgets for your next business trip Hotels often lack the resources business travelers need to work efficiently. But fear not: These six gadgets will turn any hotel room into a temporary office. More
Must-have gadgets for business travelers For many business travelers, commuting through airports and enduring flights is the worst part of any trip. Thankfully, these seven gadgets help make life on the road -- and in the air -- much easier. More
Best cities for first-time homebuyers A recent Zillow analysis on the best markets for first-time homebuyers finds that the best deals are in the Southeast and the Midwest. More

Special Offer