October 21, 2014
LOS ANGELES (AP) - Californians rave about year-round sunshine, temperate climate and easy access to surfing, snowboarding, and everything in between.
But a new study released today suggests when it comes to getting the most out of their homebuying dollar, they've got nothing on homeowners in the Midwest.
Eight out of the top 10 most expensive housing markets in the U.S. are in California, while eight Midwestern cities are among the 10 most affordable markets. That's according to the Coldwell Banker Home Price Comparison Index.
The study compared the average value of 22-hundred-square-foot houses with four bedrooms, two and a half baths, a family room and a two-car garage across 315 U.S. markets.
The results underscore the huge disparity in how much homeowners in different markets pay essentially for the same amount of living space.
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