Indianapolis has been named Most Affordable Housing Market by CNNMoney.
Indianapolis tops the list as America’s Most Affordable City to buy a house according to CNNMoney. “Indianapolis again was the most affordable major housing market in the country … a position the Indy metro area has held for four and a half years,” states the study.
America’s most affordable housing market is Indianapolis, the 33rd largest metro area in the United States with 1.7 million people.
Median home price: $106,000
Median income: $68,100
Affordability score: 95.7%
Indianapolis has received the top honors for housing affordability of any major housing market.
The median family income is fairly high — $68,100 — and median home prices are a very reasonable $106,000, according to the National Association of Homebuilders and Wells Fargo Housing Opportunity Index.
Indianapolis has an overall affordability score of 95.7%, median family income of $68,100 and median home prices are a very reasonable $106,000.
The turmoil in the auto industry, which Indianapolis had been closely associated with, has hurt the city. But increased diversification, which has made pharmaceutical companies, banks government agencies and insurers all important employers, has helped keep job losses in check. The unemployment rate was just 8.5% in December, according to the Bureau of Labor Statistics, well below the national rate of 10% that month.
Indianapolis Tops List as Most Affordable City to Buy a House – CNNMoney.com published their quarterly ‘Affordable Cities’ report recently and listed Indianapolis as the Most Affordable! CNNMoney.com notes that the average American family can easily afford to purchase a median-priced home in Indianapolis.
Source: CNNMoney.com
