According to a recent report by Trulia, middle-class affordability to buy a home has worsened in the past year as prices have continued to rebound. The good news is: due to low mortgage rates and undervalued home prices there are still areas in the US where home are affordable to the middle class. The bad news: none are anywhere near the East Bay. In fact, of the ten most affordable markets, five are in Ohio. The remaining states represented in the Top Ten are Indiana, Michigan, Arkansas, South Carolina and, somehow – New York (Rochester).
Not surprisingly, California has 7 of the 10 least affordable housing markets for middle-class buyers.