10 Most (and Least) Affordable Housing Markets

Report says Indianapolis is the most affordable metro area for 12th quarter in a row.

By SHARE

The National Association of Home Builders and Wells Fargo recently released a joint report ranking the nation's most—and least—affordable housing markets in the second quarter of 2008.

Here's what they found:

Areas with population of 500,000 or more in 2007

10 Most Affordable Metro Areas

  1. Indianapolis-Carmel, IN
  2. Youngstown-Warren-Boardman, OH-PA
  3. Detroit-Livonia-Dearborn, MI ^^^
  4. Warren-Troy-Farmington Hills, MI ^^^
  5. Grand Rapids-Wyoming, MI
  6. Toledo, OH
  7. Dayton, OH
  8. Akron, OH
  9. Syracuse, NY
  10. Scranton—Wilkes-Barre, PA

10 Least Affordable Metro Areas

  1. New York-White Plains-Wayne, NY-NJ ^^^
  2. San Francisco-San Mateo-Redwood City, CA ^^^
  3. Los Angeles-Long Beach-Glendale, CA ^^^
  4. Miami-Miami Beach-Kendall, FL ^^^
  5. Nassau-Suffolk, NY ^^^
  6. Santa Ana-Anaheim-Irvine, CA ^^^
  7. Newark-Union, NJ-PA ^^^
  8. San Jose-Sunnyvale-Santa Clara, CA
  9. Oxnard-Thousand Oaks-Ventura, CA
  10. Seattle-Bellevue-Everett, WA ^^^

Areas with population under 500,000 in 2007

10 Most Affordable Metro Areas

  1. Canton-Massillon, OH
  2. Springfield, OH
  3. Bay City, MI
  4. Lansing-East Lansing, MI
  5. Lima, OH
  6. Davenport-Moline-Rock Island, IA-IL
  7. Battle Creek, MI
  8. Monroe, MI
  9. Cumberland, MD-WV
  10. Saginaw-Saginaw Township North, MI

10 Least Affordable Metro Areas

  1. San Luis Obispo-Paso Robles, CA
  2. Ocean City, NJ
  3. Napa, CA
  4. Santa Cruz-Watsonville, CA
  5. Salinas, CA
  6. Bend, OR
  7. Atlantic City-Hammonton, NJ
  8. Medford, OR
  9. Santa Rosa-Petaluma, CA
  10. Santa Barbara-Santa Maria-Goleta, CA

Sales Transaction Data: First American Real Estate Solution
Interest Rates: Federal Housing Finance Board
Median Household Income: Housing & Urban Development Department (HUD)
Property Taxes & Insurance: Bureau of the Census
Population: Bureau of the Census
^^^ Indicate Metropolitan Divisions. All others are Metropolitan Statistical Areas.