Kokomo, Ind., leads nation in affordable housing

Real Estate Watch

November 11, 2001

Kokomo, Ind., was the nation's most affordable housing market in the second quarter as lower interest rates on home mortgages helped drive housing affordability across the country to its best levels in more than a year, according to the National Association of Home Builders.

Nationwide, families making the median income of $52,500 could afford to purchase 63.4 percent of homes sold in the second quarter, according to the NAHB's quarterly Home Opportunity Index.

In Kokomo, households making the median family income of $57,600 could afford 94.7 percent of homes sold there. The median home sales price was $99,000.

The Baltimore metropolitan region ranked 79th nationwide. Families earning the median income of $63,100 could afford 73.1 percent of homes sold in the region. The median home sales price was $144,000.

San Francisco has been ranked as the least affordable housing market for the past 10 years. With a median sales price of $530,000, only 6.7 percent of homes sold in the San Francisco area were affordable to households making the median family income of $80,100.

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