California is home to the least affordable housing markets, while Michigan and Ohio are the places with the lowest home prices.
"Housing affordability increased in the third quarter compared to the same quarter last year, the National Association of Home Builders reported today, though less than half of all new and existing homes sold during the third quarter were affordable to families earning the national median income.
Nine of the 10 least affordable metro areas tracked in the Housing Opportunity Index are in California, while four of the 10 most affordable metro areas are in Michigan and three are in Ohio."
"Among metro areas with a population of 500,000 or more, Indianapolis-Carmel, Ind., ranked as the most affordable, with 87.5 percent of homes sold affordable to a median-income family, followed by Detroit-Livonia-Dearborn, Mich.; Youngstown-Warren-Boardman, Ohio-Pa.; Scranton, Pa.; and Grand Rapids, Mich."
FULL STORY: Los Angeles, Napa top least affordable housing markets
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