Surprise: New York Leads Affordable List

Although New York City’s housing ranked among the least affordable in a recent national survey, New York State itself had more markets among the 25 most affordable than any other, including the most affordable of all.

Across the continent, California had 11 metropolitan areas among the 25 least affordable, including last-place San Francisco. In fact, no California city made the list of 25 most affordable.

The National Association of Home Builders said Tuesday that Binghamton, N.Y., was at the top of its Housing Opportunity Index during the April-June quarter. Neighboring Elmira was second.

“These New York metro areas have what it takes to provide affordable housing - reasonable incomes and home prices that are low because land is plentiful,” explained Jim Irvine, a Portland, Ore., builder and the association president.

The index measures the proportion of homes sold in a specific market that an area family earning the median income could afford. The index also considers property tax and insurance rates.

Spokane was not included in the survey.