Everyone wants to live in an affordable area -- and fortunately, there's an index that tracks which cities in the U.S. have the highest percentage of homes sold that are considered affordable.

Every quarter, the National Association of Home Builders and Wells Fargo release the quarterly Housing Opportunity Index, which measures the amount of homes sold that were affordable based on the price of the home sold, as well as tax and insurance values, relative to the median income in an area.

In the broader U.S., the amount of homes sold that were considered affordable fell from 73.7% in the first quarter of 2013 to 69.3% in the second quarter. That was the lowest reading in four years, but it's well above the lows we saw from 2005 to 2008.

Rose Quint, assistant vice president of survey research at the NAHB, noted that the change was largely attributable to rising prices from the first to the second quarter and said the reading "was still a very good number historically." 

With that in mind, let's look at the 10 most affordable housing markets in the United States.

10 Most Affordable Housing Markets from The Motley Fool

Fool contributor Patrick Morris has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.