Article published November 20, 2009
Toledo area ranks 22nd in home affordability
The Toledo area ranked as the nation’s 22nd most affordable metro area in which to own a home, a quarterly report released yesterday by the National Association of Home Builders found.
Lima, Ohio, was ranked as the 9th most affordable, while metropolitan Monroe, ranked 26th nationally, and Sandusky 34th. Kokomo, Ind., and Springfield, Ohio, were ranked the two most affordable metro areas in the nation.
The study showed that 70 percent of all new and existing homes sold in the third quarter of 2009 were affordable to families earning the national median income of $64,000, down slightly from a near-record 72 percent during the previous quarter and up from 56 percent during the third quarter of 2008.
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