Kokomo, Ind., was the most affordable housing market in the United States last year, the National Association of Home Builders said Thursday.

Its fourth-quarter Housing Opportunity Index showed that 92.3% of the homes for sale in Kokomo in late 1998 were within reach of a family earning the area's median income.

The median sales price of Kokomo homes was $87,000, and the median family income was $50,800.

The builders assessed affordability in 186 cities and regions across the country and found that the least affordable metropolitan area was San Francisco, where only 19.9% of families earning the median income of $68,600 could qualify for a mortgage loan to buy a home at the median price of $350,000.

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