5. Toledo, Ohio
gallery affordable housing markets toledo
Median home price: $88,000
Median income: $62,600
% of homes sold that are "affordable"*: 90.6%

Toledo is a classic Midwestern industrial town. Its proximity to Detroit helped make it an important auto parts manufacturer. Indeed, it still supplies Detroit with auto parts ranging from axles to exhaust systems to windshields.

But last decade's auto industry woes and the housing bust brought hard times. Residents moved away, leaving a glut of vacant homes. All those empty houses are dragging down prices. So while median incomes aren't terribly high here, that money goes far when buying a home in the area.


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
Join the Conversation
Most dangerous U.S. cities

Cities reporting the highest rates of murder, rape, robbery, assault, burglary and car theft, according to an annual analysis of FBI data.

Real Estate Calculator
recalchome

Was my home a good investment?

Find out now
Find Homes for sale
  • Property Type
  • Find a home in:
    New York | Atlanta | Chicago | Los Angeles
    Washington D.C | Houston | Philadelphia | More options
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.75%3.66%
15 yr fixed2.89%2.79%
5/1 ARM2.66%2.59%
30 yr refi3.74%3.64%
15 yr refi2.89%2.79%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.