According to the quarterly Housing Opportunity Index compiled by the National Association of Home Builders and Wells Fargo Bank, housing affordability is reaching record levels in the US.  Nearly 73 percent of all homes sold in the first three months of 2009 considered affordable — the highest percentage ever reported by the 18-year-old index.  ”Affordable” means that a family making the national median household income of $64,000 must be able to devote no more than 28 percent of their income toward housing costs.

The most affordable major metropolitan areas and their median home prices are:  Indianapolis; Youngstown, Ohio; Akron, Ohio; Grand Rapids, Michigan; Syracuse, N.Y; Warren, Michigan;Cleveland; Buffalo, N.Y.; Toledo, Ohio; and Dayton, Ohio, with prices ranging from 78,000 to 119,000.