Kokomo still leads as most affordable housing market


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

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