A new study by the National Association of Home builders finds Lansing is the third most affordable housing market in the nation, coming in only after Springfield, OH and Bay City, MI.
The study compared the median incomes of families in the area to the average price of homes. With a median household income of $64,900, and a median home value of $110,000, the study finds 90 percent of homes in Lansing are affordable to those making the median income.
As for the most un-affordable housing market, Los Angeles, CA took the title. The study found that in L.A. the median home costs $521,000, however, the median household earnings is $56,200.
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