CNBC, citing information from the Wells Fargo Housing Opportunity Index has named the Lansing/East Lansing Area as the #1 "Most Affordable Metro Area" in the US! The ranking was based on the area having a median home price of $85,000 compared to a Median Family Income of $62,700. This gives the area a 95% share of affordable homes. There were 3 other metro area in Michigan that were included: Battle Creek, Bay City and Saginaw Township. The remainder of the top 10 were all in the Northeast (Ohio, Indiana & New York).
This is a very positive sign for Michigan's housing market! Afordable housing is a key factor in attracting new families to the state. Although Jackson wasn't included in the survey due to in's smaller size, I am sure it would have ranked very high!
What are your thoughts?
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