Los Angeles
gallery least affordable housing los angeles
Median home price: $335,000
Median income: $64,800
% of homes that are affordable: 44.1%

Los Angeles may have its Hollywood stars, Rodeo Drive boutiques and Brentwood mansions, but it's also home to millions of blue-collar workers employed in the area's aerospace, energy, shipping and warehousing industries.

While homes are a lot more affordable now than they were during the housing boom -- back then the median price was $530,000 and only 3% of the homes sold were considered affordable to median income families -- it's still a challenge for many of the area's residents to cover the cost of a mortgage.

Things are looking up, however. The unemployment rate has fallen by two percentage points over the past 12 months and home prices are starting to stabilize even further.


Source: National Association of Home Builders/Wells Fargo Housing Opportunity Index
*The percentage of new and existing homes sold in that metro area that families earning the area's median income can afford based on standard mortgage underwriting criteria.
- Last updated November 29 2012 02:02 PM ET
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