And The Most Affordable Housing Market Is…

This is good news for all you home consumers.

Falling mortgage interest rates plus falling home prices equals greater housing affordability.

According to a recent CNNMoney article, the most affordable major housing market was Indianapolis:

Indianapolis was, once again, the most affordable major housing market in the United States. The median home sold there, already low at $122,000 during the previous quarter, fell to $113,000 during the last three months of the year. With a median income of $65,000, 89 percent of the homes sold were affordable to the average household.

The LEAST affordable housing market is Los Angeles, California where the media house price is $525,000 while the median income is only $56,200. OUCH!JLP
Most Affordable Housing Markets [CNNMoney]