Of the 51 metropolitan areas with populations over 1 million, these are the 10 most affordable metro areas–those with the smallest ratios of median home prices to median household incomes:
Rank Metropolitan Area Median Price Median Household Income Ratio
1 Atlanta-Sandy Springs-Marietta, Ga. $102,100 $58,355 1.75
2 Minneapolis-St. Paul-Bloomington, Minn.-Wis. 145,000 66,404 2.18
3 Las Vegas-Paradise, Nev. 126,200 56,294 2.24
4 Rochester, N.Y. 118,900 52,971 2.24
5 Phoenix-Mesa-Scottsdale, Ariz. 126,000 55,548 2.27
6 Cleveland-Elyria-Mentor, Ohio 108,500 47,761 2.27
7 Cincinnati-Middletown, Ohio-Ky.-Ind. 127,300 54,534 2.33
8 Buffalo-Niagara Falls, N.Y. 113,000 48,199 2.34
9 Saint Louis, Mo.-Ill. 129,000 54,386 2.37
10 Kansas City, Mo.-Kan. 137,000 57,363 2.39
Sources: National Association of Realtors, 2011 Second-Quarter Median Sales Price of Existing Single-Family Homes (Median Price); U.S. Census Bureau American Community Survey 2009, median household income, adjusted for inflation. Median home price data unavailable for Detroit; Nashville, Tenn.; and Pittsburgh, Pa.
Read more: US News and World Report