Where can homebuyers purchase an affordable home? Well, according to the NAHB, housing affordability is at a near to record low. But, some regions are more expensive, and some are less.

Lansing-East Lansing, Mich., was the nation’s most affordable major housing market, defined as a metro with a population of at least 500,000. There, 79.3% of all new and existing homes sold in the fourth quarter were affordable to families earning the area’s median income of $97,800.

Top five affordable major housing markets:

1. Lansing-East Lansing, Michigan
2. Harrisburg-Carlisle, Pennsylvania
3. Indianapolis-Carmel-Anderson, Indiana
4. Dayton-Kettering, Ohio
5. Akron, Ohio

Meanwhile, Bay City, Michigan, was rated the nation’s most affordable small market, with 88.3% of homes sold in the fourth quarter being affordable to families earning the median income of $82,300.

Top five affordable small housing markets:

1. Bay City, Mich.
2. Elmira, N.Y.
3. Davenport-Moline-Rock Island, Iowa-Ill.
4. Cumberland, Md.-W.Va.
5. Springfield, Ohio
    

For the 13th straight quarter, Los Angeles-Long Beach-Glendale, Calif., remained the nation’s least affordable major housing market. There, just 2.7% of the homes sold during the fourth quarter were affordable to families earning the area’s median income of $98,200.

Top five least affordable major housing markets—all located in California:

1. Los Angeles-Long Beach-Glendale
2. Anaheim-Santa Ana-Irvine 
3. San Diego-Chula Vista-Carlsbad
4. Oxnard-Thousand Oaks-Ventura
5. San Francisco-San Mateo-Redwood City
    

The top five least affordable small housing markets were also in the Golden State. At the very bottom of the affordability chart was Santa Maria-Santa Barbara, Calif., where 5.2% of all new and existing homes sold in the fourth quarter were affordable to families earning the area median income of $107,300.

Top five least affordable small housing markets—all located in California:

1. Santa Maria-Santa Barbara
2. San Luis Obispo-Paso Robles
3. Napa
4. Salinas
5. Merced