Indianapolis - Most Affordable Major Housing Market
Most of us that live in Indianapolis probably already know this, but for those that don't (or those considering a move to Indianapolis) the National Association of Home Builders named Indianapolis the nation's most affordable major housing market for a second consecutive quarter at year end 2005. I've included a couple of highlights from the announcement below.
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Indianapolis, Ind., was the nation’s most affordable major housing market for a second consecutive quarter at year-end 2005, according to the National Association of Home Builders’/Wells Fargo Housing Opportunity Index (HOI), released today
In the nation’s most affordable major housing market of Indianapolis, Ind., 88.7 percent of new and existing homes that were sold in the fourth quarter were affordable to households earning the area’s median income of $64,000. The median sales price of all Indianapolis homes sold in that time frame was $120,000. Also near the top of the list for affordable major metros were Youngstown-Warren-Boardman, Ohio-Pa., followed by Detroit-Litonia-Dearborn, Mich.; Grand Rapids-Wyoming, Mich.; and Dayton, Ohio, in that order.
Midwestern metros also dominated the list of the most affordable small housing markets with under 500,000 people. Davenport-Moline-Rock Island, Iowa-Ill. was tops, followed by the metro areas of Cumberland, Md.-W.Va.; Lima, Ohio; Mansfield, Ohio; and Lansing-East Lansing, Mich.
At the bottom of the affordability scale was Los Angeles-Long Beach-Glendale, Calif., where just 2.3 percent of homes sold in the fourth quarter were affordable to families earning the area’s median household income of $54,500. The median price of all homes sold in that area was an even $500,000. And as usual, the bottom of the affordability scale was dominated by large California cities, including Santa Ana-Anaheim-Irvine, San Diego-Carlsbad-San Marcos, and Stockton. New York-White Plains-Wayne, N.Y.-N.J. rounded out the list of the five least-affordable major housing markets.
Continue reading the article here.
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Indianapolis, Ind., was the nation’s most affordable major housing market for a second consecutive quarter at year-end 2005, according to the National Association of Home Builders’/Wells Fargo Housing Opportunity Index (HOI), released today
In the nation’s most affordable major housing market of Indianapolis, Ind., 88.7 percent of new and existing homes that were sold in the fourth quarter were affordable to households earning the area’s median income of $64,000. The median sales price of all Indianapolis homes sold in that time frame was $120,000. Also near the top of the list for affordable major metros were Youngstown-Warren-Boardman, Ohio-Pa., followed by Detroit-Litonia-Dearborn, Mich.; Grand Rapids-Wyoming, Mich.; and Dayton, Ohio, in that order.
Midwestern metros also dominated the list of the most affordable small housing markets with under 500,000 people. Davenport-Moline-Rock Island, Iowa-Ill. was tops, followed by the metro areas of Cumberland, Md.-W.Va.; Lima, Ohio; Mansfield, Ohio; and Lansing-East Lansing, Mich.
At the bottom of the affordability scale was Los Angeles-Long Beach-Glendale, Calif., where just 2.3 percent of homes sold in the fourth quarter were affordable to families earning the area’s median household income of $54,500. The median price of all homes sold in that area was an even $500,000. And as usual, the bottom of the affordability scale was dominated by large California cities, including Santa Ana-Anaheim-Irvine, San Diego-Carlsbad-San Marcos, and Stockton. New York-White Plains-Wayne, N.Y.-N.J. rounded out the list of the five least-affordable major housing markets.
Continue reading the article here.
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posted by Christina at 10:54 AM
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