Indianapolis #4 for Most Affordable USA Homes
U.S. Cities where homes are most affordable
By Colleen Kane | CNBC.com – Mon, Aug 27, 2012 7:20 PM EDT
This house is for sale in the metro area where homes are most affordable of all: Youngstown, Ohio. Click to see …
Home prices are strengthening and affordability of houses is slightly lower, according to new data from the second quarter of 2012. The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) found that 92 percent of metropolitan areas had a rise in median home prices over the first quarter of 2012.
Some homebuyers might not welcome this news, but for the home seller, it’s “another signal that the housing recovery is starting to take root,” said NAHB Chairman Barry Rutenberg, “and it lends needed confidence to prospective buyers and sellers who have been reluctant to move forward in the current marketplace.”
…
#4. Indianapolis-Carmel, Ind.
Median housing price: $114,000
The metropolitan area of Indiana’s state capital has an HOI of 91.7, finding most homes on the market affordable for families earning the median income of $66,900.
#3. Buffalo-Niagara Falls, N.Y.
Median housing price: $105,000
With an HOI of 91.8, most households earning the median income of $66,100 in this major metropolitan area near Lake Erie would be able to buy a house currently on the market.
2. Dayton, Ohio
Median housing price: $92,000
Dayton has a Housing Opportunity Index rating of 92, meaning that most “Gem City” residents making the local median of $63,300 can feasibly buy homes in the city.
1. Youngstown-Warren-Boardman, Ohio-Pa.
Median housing price: $92,000
The city with the most affordable homes had an HOI of 93.4, so the vast majority of people earning the local median income of $55,700 (the second lowest median income of this top 10 list) can afford homes in the Youngstown metro area.
…
