Most affordable real estate found in Indianapolis. Index ranks U.S. housing markets with populations over 500,000. Indianapolis, Indiana has claimed the title of the nation's most affordable housing market among major metros with populations over 500,000, according to the National Association of Home Builders/ Wells Fargo Housing Opportunity Index (HOI) for the third quarter of 2005. Meanwhile, in the nation's least affordable major housing market of Los Angeles-Long Beach-Glendale, Calif., a mere 2.4 percent of all homes sold were affordable to those earning the median income of $54,500 when the median sales price was $495,000.
California once again dominated the HOI rankings for the least affordable major metropolitan areas. Right behind Los Angeles on this list was Santa Ana-Anaheim-Irvine, Calif., followed by San Diego-Carlsbad-San Marcos, Calif. and Stockton. The metro of New York-White Plains-Wayne, N.Y.-N.J. was the only non-California entry on the list of the five least affordable major housing markets. The HOI also ranked housing affordability in metro areas with populations fewer than 500,000. At the top of that list was Mansfield, Ohio; Cumberland, Md.; Lima, Ohio; Davenport-Moline-Rock Island, Iowa-Ill.; and Lansing-East Lansing, Mich., respectively. At the bottom of that list were the California cities of Merced, Salinas, Santa Barbara-Santa Maria, Modesto and Santa Cruz-Watsonville, respectively. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
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tina.jan@coldwellbanker.com
www.tinajan.com
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