The Home Listing Report considers average listing prices of four-bedroom, two-bathroom homes on ColdwellBanker.com. The report looked at 2,300 markets in North America, analyzing properties listed between September 2010 and March 2011.
Some of the most affordable markets in the country are suffering with weak economies, and include Midwestern cities that never experienced very high housing prices during the boom but saw prices fall as their local economies deteriorated, said Jim Gillespie, CEO of Coldwell Banker Real Estate. Other affordable markets include areas of the country dealing with an overabundance of new housing supply.
Below are the most affordable housing markets, according to the report.
1. Niagara Falls, N.Y.
Niagara Falls, N.Y., is the most affordable market in the country, with listing prices of about $60,820 on a four-bedroom, two-bathroom home.
2. Riverdale, Ga.
Riverdale, Ga., is the second most affordable market, with listing prices on the average four-bedroom, two-bathroom home averaging $61,618. It's one of three cities on the top 10 list that is within 20 miles of Atlanta.
3. Coolidge, Ariz.
Coolidge, Ariz, home to the Casa Grande Ruins National Monument, is the third most affordable market on the list, with a four-bedroom, two-bathroom home averaging $69,083.
4. College Park, Ga.
College Park, Ga., is No. 4 on the most affordable list, with four-bedroom, two-bathroom homes listing for $72,477. It's the hometown of Ludacris and Monica, both R&B performers.
5. Detroit
Detroit, the automotive capital of America, is the fifth most affordable market, with the average four-bedroom, two-bathroom home listing for $73,363.
6. Hastings, Fla.
Hastings, Fla. is the sixth most affordable housing market, with the average four-bedroom, two-bathroom home listing for $74,910.
7. Cleveland, Ohio
Cleveland, Ohio, is home of the Rock and Roll Hall of Fame. It's also home to the seventh most affordable housing market, with four-bedroom, two-bathroom homes listing for $76,042.
8. Lithonia, Ga.
Lithonia, Ga. is the eighth most affordable market, with four-bedroom, two-bathroom homes listing for $77,385.
9. Trotwood, Ohio
The ninth most affordable market is Trotwood, Ohio, where four-bedroom, two-bathroom homes list for $77,445. Trotwood is located near Wolf Creek, a fishing destination.
10. Sioux City, Iowa
Sioux City, Iowa is the tenth most affordable housing market, with four-bedroom, two-bathroom homes listing for $80,152.