February 21, 2008 Elad Bushari

For the tenth consecutive quarter, Indianapolis ranks as the most affordable major U.S. housing market, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index. During the fourth quarter of 2007, 89.5 percent of the houses sold in Indianapolis were affordable to people making the area’s median household income of $63,800. Youngstown, Ohio, Detroit, Toledo, Ohio and Grand Rapids, Mich. follow Indianapolis as the most affordable major metro areas. Los Angeles, where only 6.2 percent of homes sold were affordable to those earning the median income of $61,700, was the least-affordable city for the 13th consecutive quarter.

Nationwide, however, housing affordability has increased to its highest level since the first quarter of 2005, the report finds.

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

Comment (1)

  1. I remember checking this out last year and it was on my short list of places to move to. I have put that on temporary hold for possibly 3 years but find it amazing they are still doing so well. This offers people of lower income a chance for home ownership.

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