How Affordable is Your City?
CNN ranks 10 American cities according to housing affordability, and finds that foreclosures, median incomes and the availability of developable land all influencing housing affordability.
With a median housing price of $106,000, and comparatively high incomes, Indianapolis leads in terms of affordability, while New York, with its median at $425,000 ranks last. Other cities on the list include Detroit, Youngstown and Akron (on the affordable side) and San Francisco, Honolulu, Santa Ana and Los Angeles (as unaffordable). The slideshow offers commentary on local market and economic conditions that contributed to these rankings.
Published on Thursday, February 18, 2010 in
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