Which City Is Most Affordable?
May 21st, 2009
Buying a house today could say the average home buyer 25 percent and up to 75 percent of what they would have paid just five years ago.
So, which U.S. city is considered the most affordable? Indianapolis currently holds the title. That marks the 15th consecutive quarter Indianapolis has led in home affordability. The city's above-average per capita income and relatively low home prices helped this city lead the nation again.
Conversely, New York tops the list of worst cities in which to live in terms of affordability. With only 20 percent of homes being considered "affordable" and below average pay, New York dominated the worst list along with other cities like San Francisco, Los Angeles and Honolulu.
Other cities near the top of the affordability list include Youngstown and Akron, Ohio, along with Grand Rapids, Mich.
So, which U.S. city is considered the most affordable? Indianapolis currently holds the title. That marks the 15th consecutive quarter Indianapolis has led in home affordability. The city's above-average per capita income and relatively low home prices helped this city lead the nation again.
Conversely, New York tops the list of worst cities in which to live in terms of affordability. With only 20 percent of homes being considered "affordable" and below average pay, New York dominated the worst list along with other cities like San Francisco, Los Angeles and Honolulu.
Other cities near the top of the affordability list include Youngstown and Akron, Ohio, along with Grand Rapids, Mich.
