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Have you heard it was affordable to live in CR?


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KoKomo is Where You May Need To Go:

One metro market in the USA (fewer than 500,000 people) outranked all others in terms of housing affordability during the third quarter. This was Kokomo, Ind., where 90.5 percent of all homes sold in the period were affordable to families earning that area's median household income of $59,700.

Indianapolis, Indiana maintained its standing as the most affordable major U.S. housing market for a ninth consecutive time in the third quarter of 2007, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released this week.

Meanwhile, nationwide housing affordability rose on a year-over-year basis but was down slightly for the quarter due to higher mortgage rates.

The HOI indicates that the national weighted interest rate on fixed and adjustable-rate mortgages - a key component in calculating the HOI - was 6.73 percent in the third quarter, compared to 6.44 percent in the second quarter.

In the nation's most affordable major housing market of Indianapolis, 87.5 percent of homes sold in the third quarter were affordable to families earning the area's median household income of $63,800. Also near the top of the list for affordable major metros this time around were Detroit-Livonia-Dearborn, Mich.; Youngstown-Warren-Boardman, Ohio-Pa.; Scranton-Wilkes-Barre, Pa.; and Grand Rapids-Wyoming, Mich., in that order

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Having grown up near there, I still have friends in the area. Many work and live on less than the modest income estimates for life in C.R.

 

I'll be through there next weekend and admire the sturdy folk making their way on $10-20K gross...

 

It makes me exceedingly grateful for what we have, and for the chance to move back to Costa Rica. (Even if the change in exchange rate crimps our budget....).

 

And no, I don't plan to live more afford-ably in Kokomo. Thanks for the suggestion...

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Affordability is one thing. Having good enough credit to qualify for a mortgage in today's market is quite another.

 

Having lived through quite a few Indiana Winters AND Summers, I can tell you that your heating and cooling bill (did I mention towing fees for being pulled out of snowdrifts) will keep you eating Spam, and maybe (if you're lucky) beans and rice. Seriously, the extreme weather has a profound effect on the cost of living...don't know where they got those statistics..but hey..anybody can do anything with numbers to prove their point, whatever it may be. Having lived a whole lot of places, I still prefer CR...but am happy when others don't because there are enough already! jp

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You clearly have never been there.

 

I have.

 

The cost of living could be free in kokomo

 

I'd still rather live here.

 

But... thanks for thinking of us!

 

Come on, cards on the table, you´re a Buckeye, not a Hoosier, right? I don't trust you Buckeyes for nothin'. I'm a proud Hoosier (minus Dan Quayle and a few others) and can tell you for a fact that the folks in Kokomo and Indy and surrounding areas are great. Hey, where do you think Dave Letterman hailed from? It wasn't Ohio!!!

 

Then again, shhhh, I'm with you pal. I actually checked out Buffalo, NY before coming to CR. Then there are all those Iowa and Nebraska farm towns. Anyone who wants to live cheap in the US (minus health insurance) can do so. The question is how you live. Watching the traffic light change ain't my idea of entertainment.

 

Good Hoosier bars though and housing at about CR prices in Kokomo. Oh, that's right, you've been there.

Edited by kenn
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