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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.

.  Harrisburg, Pa.

gallery affordable housing markets harrisburg
  • Median home price: $153,000
  • Median income: $73,500
  • % of homes sold that are "affordable"*: 89.4%

Harrisburg, the state capital, has a stable source of jobs courtesy of the state government, which employs 24,000, according to the local Chamber of Commerce. The federal government, including the military, chips in another 17,000 jobs.

Unemployment, at 6.9% in September, is a full percentage point below the national average. Growth has been modest, however, with the economy adding fewer than 11,000 jobs this year, according to the Bureau of Labor Statistics.

Many of the government jobs pay well, however, and the typical income for area households is well above the national median. That makes local home prices -- among the highest of the cities on this list -- more reasonable.

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.
  @CNNMoney - Last updated November 15 2012 10:05 AM ET

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