Typically, the least affordable U.S. housing markets are that way because home prices are so high. Not El Paso. Here, incomes are so low that it's difficult for a large number of residents to afford even the most modestly-priced homes.
Many of the area's jobs depend on government largesse with Fort Bliss, the city, and school districts serving as major employers. Agricultural support services, trade with Mexico, and the tourist industry also provide many of the employment opportunities. But pay in these jobs is often at minimum wage or only slightly higher.
From Los Altos, Calif. to Brooklyn, N.Y., these 20 cities had the highest number of home sales exceeding $1 million during the 12 months ended June 30, 2013.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.48%||4.38%|
|15 yr fixed||3.49%||3.42%|
|30 yr refi||4.47%||4.37%|
|15 yr refi||3.48%||3.41%|
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