From the WSJ Real Estate Archives

Pockets of Affordability
Among Rising Home Prices

by Brad Reagan
From The Wall Street Journal Online
October 06, 2005

Home prices continue to soar, but there are pockets of affordability, says a recent survey by the National Association of Homebuilders. Here are homes for about $500,000 in three of the five areas ranked most affordable by NAHB

  • Grosse Pointe Woods, Mich.
  • Indianapolis, Ind.
  • Dayton, Ohio

PLACE/PRICE: Grosse Pointe Woods, Mich. /$495,000

PROPERTY TAX*: $8,787 per year

THE PROPERTY: 2,915-sq.-ft. home with 4 bedrooms, 2 1/2 baths

DESCRIPTION: Located on a cul-de-sac in a tony Detroit suburb. The 1965 home is one block from Lake St. Clair and 20 minutes from downtown. Features a screened-in porch and attached garage.

NOTABLE: The home straddles the boundary with Grosse Pointe Shores, so owners can access two sets of resident-only parks with swimming pools and tennis courts.

Note: *Current owner's payment

Sources: johnstoneandjohnstone.com, fctucker.com,coldwellbankerdayton.com

Email your comments to rjeditor@dowjones.com.