Photo: OZinOH (Flickr)
Kokomo has been named the second most affordable housing market in the U.S., according to the National Association of Home Builders.
Nearly 97 percent of homes sold in Kokomo from July to September of this year were considered affordable to a family earning just about $59,000.
Kokomo Mayor Greg Goodnight says low home prices are helping to attract more people to the area.
“I think that what separates us is that a large portion of these homes are still affordable to most of the population,” he says.
The Executive Vice President of Realtors Association of Central Indiana Amy Pate says cities do not normally aim to be the most affordable city because higher housing costs can also mean more affluent residents, which in turn bring more money into the city’s economy.
But she says a stable housing market is good. And that best describes Kokomo.
“The piece that you have to look at when you look at affordability, because a lot of people ask you is this a bad thing or a good thing, you really have to look at the quality of life piece,” Pate says.
Pate says Kokomo’s schools and recovering economy combined, make it a good family community.