10 of 10
BACKNEXT
Fifth place: Los Angeles
Fifth place: Los Angeles
Close to Venice, this two-bedroom house was a relative bargain for pricey L.A. at just $529,000.
Median home price: $306,000
Median income: $62,900
Affordability score: 35.9%

As the post-war City of Angels filled in and up, with the population exploding to nearly 4 million in town and 13 million in the metro area, the area has mostly run out of land to build on. That has led to much higher development costs and home prices.

Still, L.A. values have fallen far from the bubble years, off nearly 40% since mid-2006. Affordability is improved as well, with 35.9% of homes sold falling in a range that median income earners could comfortably pay for.

With prices much lower and unemployment at 11.7%, many area homeowners are having a tough time staying out of foreclosure; there were filings on nearly 176,000 homes last year, the highest total for any metro area.

All those properties coming back on the market has depressed prices that would otherwise be far less affordable than they are now.

More galleries
Email | Print | Share
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Last updated May 24 2010: 1:00 PM ET
Source: National Association of Home Builders (NAHB) and Wells Fargo
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.