Where can you get the most bang for your buck in this shaky real estate market? Money Magazine has compiled a list of 25 towns with the most affordable home prices relative to income. The results are pretty surprising.
Interestingly, Michigan, a state that has been battered by the financial crisis and the collapse of GM and Chrysler, landed two cities in the top five. Holland, Michigan, located not far outside of Grand Rapids, ranked fourth. Sterling Heights, a Detroit suburb, ranked fifth with a median home price of $137,850 and a median family income of $90,322. (Though, Money Magazine admits that finding a job in Michigan could prove a bit challenging).
With a median home price of $99,648 and a median family income of $72,243, Duncanville, Texas tops Money Magazine's list. The town is located 20 minutes outside of Dallas and has a reputation for its public parks -- its and football teams.
Rounding out the top five are New Haven, Indiana (#2); and Oak Ridge, Tennessee (#3).
Read the entire list of 25 Best Towns For Affordable Homes at CNNMoney.com.