Fourth place: Los Angeles
This beautiful little home in the Beverley Glen area is listing at $599,000.
Median home price: $315,000
Median family income: $63,000
Affordability score: 42.9%
California's largest metropolis has languished near the bottom of affordability surveys for years, but the calculations have improved greatly since the housing bust. The bubble took more than 40% off housing prices.
Wages are fairly high in L.A., though, so t least 40% of homes were affordable to those earning the median family income.
The regulatory environment in the area is somewhat stringent and the vast tracts of open land have vanished, increasing land acquisition costs and new home prices.
NEXT: Fifth place: Santa Ana, Calif
Last updated February 23 2011: 3:17 PM ET
