Starter-home affordability: Moody's Economy.com provided us with an indexof housing affordability based on the cost of a median priced home in each city compared with the median income.
The housing affordabilityindex gauges the amount of a local, median-priced home (the price at which 50% of homes are more expensive and 50% are less expensive) you can buy if you earn the local median income, given current interest rates.