It comes as little surprise that Metro Detroit had the most affordable housing of any metropolitan area in the nation.
The 9th Annual Demographia International Housing Affordability Survey for 2013 stated that Metro Detroit is the most affordable, and Honolulu is the least, according to the website GlobalPost.
The report surveyed 337 metropolitan markets in Australia, Canada, Hong Kong, Ireland, New Zealand, the United Kingdom and the United States.
The report used a formula of “Median Multiple” median house price divided by gross before tax annual median household income) to rate housing affordability.
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