El Paso Makes List of Least Affordable Cities for Home-Buying

El Paso Makes List of Least Affordable Cities for Home-Buying
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Thursday, November 29, 2012 - 9:21pm

CNN Money's out with their list of the top 10 least affordable cities to buy a home in. Believe it or not, El Paso's on that list.

Unlike cities on the list like New York, Neward, and Los Angeles whose homes are priced much higher, the survey says El Paso's incomes are so low that many can't even afford an average-priced home.

It says the median income is about $42,000, but the average home price is $141,000, making only 62 percent of homes in El Paso affordable.

Click on the link below to see the full list.

http://money.cnn.com/gallery/real_estate/2012/11/29/least-affordable-cities/index.html

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