For the sixth consecutive quarter, Kokomo, Ind., topped all metro areas as the most affordable housing market, according to the National Association of Home Builders' second-quarter 1998 Housing Opportunity Index.
The index is a measure of the percentage of homes in a market that a family earning the median income in that market can afford to buy.
Kokomo scored a 93.1, meaning a household earning the area's median income of $50,800 could afford to purchase 93.1 percent of the homes sold in the second quarter.
Baltimore's index was 76.1 -- 66th nationally -- meaning a family earning the median of $55,600 could purchase 76.1 percent of homes that were sold.
Nationally, the index dropped to 64.8 from 67.6 for the first quarter. of 1998. Families earning the national median of $45,300 could afford 64.8 percent of the houses on the market.
Pub Date: 9/13/98