Indy 'most affordable' housing market, again

August 22, 2007

For two years in a row, the Indianapolis-Carmel metro area has been the nation's most affordable major housing market, the National Association of Home Builders and Wells Fargo said yesterday.

An index shows that 87 percent of new and existing homes sold in the second quarter were affordable to families earning the area's $63,800 median household income. That's more than twice the national rate of 43.1 percent.

Midwestern cities dominated the top spots. Among cities with fewer than 500,000 residents, Kokomo ranked first.

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