Kokomo, Ind.

Most Affordable

Rank: 1
Homes affordable to median-income families: 97.5%
Affordable homes in Q2 2004: N/A
Median home price: $79,000
Median family income: $61,800
Unemployment rate: 14.4%

Kokomo, the most affordable town in the nation, is about an hour outside Indianapolis and is home to Indiana University at Kokomo, which serves an 11-county area in north central Indiana. The town, which is home to a Chrysler transmission plant that employs 1,800 workers, has seen its unemployment rate shoot up above 14%. But its median family income is still relatively high, while its home prices are low.