It looks like the most affordable homes in the United States are in the
Midwest, according to CNNMoney.com's latest posting about the Most
& the Least affordable cities to buy a home. New York and the California
dominate the least affordable cities to buy a home today.
Grand Rapids Michigan comes in 5th Most Affordable with an affordability
score of 92.9%.
CNNMoney's lineup is as follows:
MOST AFFORDABLE
- Indianapolis, IN median home price - $107,000
- Youngstown, OH median home price - $ 73,000
- Detroit, MI median home price - $ 86,000
- Dayton, OH median home price - $105,000
- Grand Rapids, MI median home price - $100,000
LEAST AFFORDABLE
- New York City, NY median home price - $419,000
- San Francisco, CA median home price - $580,000
- Honolulu, HA median home price - $395,000
- Los Angeles, CA median home price - $294,000
- Santa Ana, CA median home price - $391,000
The foreclosure crisis that has hit the Midwest hard has influenced the
prices of homes in a downward trend for the past few years. The
auto industry is a big factor, although many of these Midwest cities, like
Grand Rapids are diversifying their economic base and will come out of
this much stronger and with many more people as homeowners.
If you are looking for a home in Grand Rapids Michigan, you are much
more likely to find a home you can afford than many other cities, which
is great news for the average home buyer today.
Grand Rapids Ada Real Estate - Westbrook Realty
Copyright 2009 All rights reserved
_____________________________________________________________________________________________________
The authors of the this blog write about Grand Rapids Real Estate, the Greater Grand Rapids MI area,
and what it is like to live in West Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan
area with a diverse business community, great medical research & services, numerous universities,
plus lively arts and entertainment of all kinds. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
;)
;)
You must have a lot of grateful and happy first-time home buyers in Grand Rapids. Although, I believe our affordability index in Sacramento is on par with Riverside, but you're right about LA and Orange Counties. Of course, we don't get any snow. :)