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by CareyBot

High foreclosure rates and widespread unemployment have made homes in some large cities more affordable, according to a study by real estate search company Trulia. The company has released an index comparing total housing and renting costs in September in the country's 50 largest cities. The index's price-to-rent ratio compares the average list price to the average rent on two-bedroom apartments, condos, townhomes and co-ops listed on Trulia.com. The five cities with the highest price-to-rent ratios were New York; Seattle, Wash.; Fort Worth, Texas; Omaha, Neb.; and Sacramento, Calif. The five cities with the lowest ratios were Arlington, Texas; Fresno, Calif.; Miami, Fla.; and Mesa and Phoenix, Ariz. "Higher prices of homeownership in cities like Omaha and Seattle reflect the funda...