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Where homebuying is most (and least) affordable

Looking for an affordable home? Here are 5 cities that are good bets, and 5 cities where owning is tough.

Most affordable: Dayton, Ohio

most affordable dayton ohio
  • Median home price: $92,000
  • Median income: $63,300
  • Affordability score: 92%

The Dayton area has always had a diversified manufacturing economy, with aerospace and business machinery among its key industries.

Some companies, however, such as the technology giant NCR, have pulled up stakes, and the population of the Dayton metro area decreased by about 1% between 2000 and 2010.

The dip in population has left home prices stagnant for years. That, combined with respectable median income, means that houses are easy for most working families to afford.

Source: Data is from the National Association of Home Builders and Wells Fargo Bank

The affordability score is the percentage of homes sold in a metro area that a family earning the median income can afford to buy. Index scores are calculated based on income and home price data, as well as current mortgage interest rates.

  @CNNMoney - Last updated August 15 2012 05:25 AM ET

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