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.

1. Ogden, Utah
gallery affordable housing markets ogden
Median home price: $153,000
Median income: $71,500
% of homes sold that are "affordable"*: 93.2%

About 40 miles north of Salt Lake City, Ogden is the most affordable metro area to buy a home in the U.S. This is the first time Ogden tops the Housing Opportunity Index. The city offers an enviable combo: Incomes are 10% higher than the national median, while home prices are about 14% lower.

Ordinarily in places growing as quickly as Ogden -- the population has jumped 24% since 2000 -- demand for housing pushes prices higher. But much of the land here is on the now-exposed bed of the shrinking Great Salt Lake, meaning it's easy and cheap to build on. A new three-bedroom, two-and-a-half-bath home might go for as little as $130,000.


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.
- Last updated November 15 2012 10:05 AM ET
Join the Conversation
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 fixed4.19%4.23%
15 yr fixed3.18%3.23%
5/1 ARM3.34%3.45%
30 yr refi4.15%4.14%
15 yr refi3.17%3.16%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com