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Homeowners may be miserable about falling property values but one thing hasn't changed: Norwalk's still among the least affordable housing markets in the country. Detroit, though, did a lot better...just in case you're interested?[breakhere] The just-released National Association of Home Builders/Wells Fargo Housing Opportunity Index ranks the "Norwalk/Stamford/Bridgeport" market 206th out of 227 markets studied. New York City ranked last as the country's least affordable city, just below San Francisco. According to the study, just over half of all homes sold in 2009 were deemed "affordable" to people living in the Norwalk area, a figure determined by comparing home prices to the median income for families. Where's the most affordable spot in the country? Pack your bags for Kokomo, Indiana, where 98 percent of homes are considered by the study to be "affordable." The average home in Kokomo will cost you about $78,000, by the way.
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