thanks for visiting cnnmoney.

We're no longer maintaining this page.

For the latest business news and markets data, please visit CNN Business

10 most affordable cities for homebuying

Looking to buy a home? These housing markets offer the best combination of low prices and competitive wages, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

.  Lakeland, Fla.

gallery affordable housing markets lakeland
TIE
  • Median home price: $92,000
  • Median income: $54,500
  • % of homes sold that are "affordable"*: 92.3%

Unlike coastal Florida, Lakeland isn't a fashionable tourist draw. Rather, it's a working-class community whose economy revolves around agricultural support for rich citrus farms in the surrounding countryside. It's also the largest metro area on Interstate 4 between Orlando and Tampa, serving the truckers and travelers who travel between the two spots. Incomes are a humble 16% below the national median.

The key to Lakeland's affordability? Home prices bottomed out in early 2011 when they fell to a median of $86,000, according to the index. Although they've recovered some since, they're still a far cry from the height of the real estate bubble, when they were a frothy $201,000.

Source: National Association of Home Builders/Wells Fargo Housing Opportunity Index
* % of new and existing homes sold that families earning that area's median income could afford.
  @CNNMoney - Last updated November 15 2012 10:05 AM ET

Partner Offers

Find Homes For Sale

Real Estate Calculator
recalchome

Was my home a good investment?

Find out now

Personal Finance

Most Popular

LendingTree