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Arlington ranks seventh in housing affordability in study

Arlington has the seventh most affordable housing prices in the U.S., a Coldwell Banker study released Tuesday suggests.

The annual Coldwell Banker Home Price Comparison Index also said the average listing price of a home across the 315 markets the company studied dropped 4.4 percent from last year.

The average listed price of a home in Arlington is $143,775, according to the study.

Sioux City, Iowa, has the most affordable prices at $133,459, the study says. La Jolla, Calif., has the most expensive prices at an average $1,841,667.

Eight of the country's 10 most expensive markets in the study are in California, and eight Midwestern cities dominate the 10 most affordable markets.

Among Texas cities besides Arlington, Killeen made the 10 most affordable markets list at No. 9, at an average listing price of $145,812.

The study compared the average value of 2,200-square-foot homes with four bedrooms, 2.5 baths, a living room, and two-car garage in 315 U.S. markets.

The average price across all of the markets surveyed dropped 4.4 percent to $403,738 in this year's survey, down from $422,343 in last year's study, Coldwell Banker said.

"This year's study comes at an interesting time in our nation's history, with the impact of the housing correction and mortgage financing serving as critical economic issues in the presidential election," Jim Gillespie, Coldwell Banker's chief executive, said in a release.

"For those who want to get into the housing market, I believe this is the smartest time in my 33 years in real estate to buy a home," he said. "Combined with the amount of homes on the market and historically low interest rates, the correction in prices has brought affordability levels down."

The most affordable domestic markets, and average 2008 listed prices:

  • 1. Sioux City, Iowa, $133,459
  • 2. Jackson, Mich., $134,325
  • 3. Akron, Ohio, $135,780
  • 4. Canton, Ohio, $135,780
  • 5. Grayling, Mich., $141,000
  • 6. Minot, N.D., $142,000
  • 7. Arlington, $143,775
  • 8. Muncie, Ind., $144,250
  • 9. Killeen, $145,812
  • 10. Eau Claire, Wis., $147,300
  • The most expensive domestic markets, and average 2008 listed prices:

  • 1. La Jolla, Calif., $1,841,667
  • 2. Greenwich, Conn., $1,787,000
  • 3. Beverly Hills, Calif., $1,777,475
  • 4. Palo Alto, Calif., $1,740,333
  • 5. Santa Monica, Calif., $1,653,333
  • 6. Santa Barbara, Calif., $1,599,667
  • 7. Newport Beach, Calif., $1,546,250
  • 8. San Francisco, $1,513,181
  • 9. Boston, $1,493,750
  • 10. San Mateo, Calif., $1,366,475
  • Average 2008 listed prices for Texas cities in the study:

  • Amarillo, $193,113
  • Arlington, $143,775
  • Austin, $241,325
  • College Station, $213,755
  • Corpus Christi, $187,000
  • Dallas, $326,425
  • El Paso, $$226,362
  • Fort Worth, $148,625
  • Houston, $158,412
  • Killeen, $145,812
  • Lubbock, $170,700
  • Plano, $210,875
  • San Antonio, $253,373
  • To see the study on the Net, find your city, and use Coldwell Banker's calculator to compare the value of your home with ones in other cities, click here.

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