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Kokomo, L.A., opposites in affordability

California home to 5 least affordable markets

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Indiana is home to the most affordable small and large metro housing markets in the country, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index. Kokomo, Ind., with an estimated 90.9 percent share of homes affordable for median-income families, ranked as the most affordable small city area with a population under 500,000 in the second quarter. The Indianapolis-Carmel, Ind., area, with an 86.8 percent share of homes affordable for median-income families, ranked as the most affordable large metro area with a population above 500,000 in the second-quarter index report. The Indianapolis metro has maintained this top ranking for eight consecutive quarters. Nationwide, the index found that 43.1 percent of new and resale homes sold in the second quarter were affordable to families earning the national median income or higher, down from 43.9 percent in the first quarter but up from 40.6 percent in second-quarter 2006. Of the 215 markets ranked in...