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December 05, 2005

The most and the least affordable metro areas

Indianapolis took the first place as the most affordable among major metros with populations over 500,000.

Astonishing 89.7 percent of new and existing homes sold in the third quarter with median price of $125,000. The area’s median income was $64,000.

And the least affordable was Los Angeles-Long Beach-Glendale, California. A puny 2.4 percent of all homes sold were affordable with the median sales price of $495,000. The median income stood at $54,500.

California continuous to be the most expensive, with four out of five least affordable metro areas - Santa Ana-Anaheim-Irvine, followed by San Diego-Carlsbad-San Marcos and Stockton. New York-White Plains-Wayne, N.Y.-N.J. was the only non-California entry in top five costliest areas.

Posted in Real Estate at December 5, 2005 04:17 PM

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