The Most Affordable U.S. Cities to Buy a House
The housing crash that began in late 2006 resulted in trillions of dollars in lost wealth and millions of families owing more on their mortgage than their houses are worth. But while the economic downturn has made it nearly impossible for many to sell their homes, prospective buyers in key metropolitan areas can get quite the bargain.
Fiserv recently released its first-quarter 2012 report on home prices. The report includes home prices for 198 metropolitan areas, as well as median annual household income. The Fiserv report also measures the affordability of homes by ranking median home price as a percentage of median annual income. Based on Fiserv's report, 24/7 Wall St. identified the 10 most affordable housing markets in America. Click through the gallery below to see them.
- 10. Lansing, Mich.
- 9. Appleton, Wis.
- 8. Battle Creek, Mich.
- 7. Youngstown-Warren-Boardman, Ohio-Penn.
- 6. Monroe, Mich.
- 5. Memphis, Tenn.
- 4. Warren-Troy-Farmington Hills, Mich.
- 3. Rockford, Ill.
- 2. South Bend, Ind.-Mich.
- 1. Detroit-Livonia-Dearborn, Mich.