The 10 Most Affordable U.S. Housing Markets

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

Beyond the housing recovery
With the American markets reaching new highs, investors and pundits alike are skeptical about future growth. They shouldn't be. Many global regions are still stuck in neutral, and their resurgence could result in windfall profits for select companies. A recent Motley Fool report, "3 Strong Buys for a Global Economic Recovery," outlines three companies that could take off when the global economy gains steam. Click here to read the full report

 


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2690165, ~/Articles/ArticleHandler.aspx, 8/21/2014 3:42:09 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement