12 fast-growing cities that are still cheap

City 1-year price rise 5-year rise Median home price
Phoenix-Mesa-Scottsdale, AZ 30.5% 67.3% $169,400
Coeur d'Alene, ID 29.0% 59.9% $169,000
St. George, UT 28.3% 47.7% $200,000
Pensacola-Ferry Pass-Brent, FL 25.8% 62.0% $131,100
Tucson, AZ 22.3% 61.4% $177,300
Lakeland, FL 19.4% 56.7% $108,000
Albany-Schenectady-Troy, NY 18.2% 65.2% $161,300
Jacksonville, FL 18.2% 66.9% $150,700
Eugene-Springfield, OR 17.4% 40.5% $164,900
Allentown-Bethlehem-Easton, PA 16.9% 58.2% $207,300
Charleston-North Charleston, SC 16.9% 49.2% $111,300
Wilmington, DE 16.2% 62.5% $180,000
USA national average 13.4% 68.3% $218,000

Source: Office of Federal Housing Enterprise Oversight, National Association of Realtors, local Realtors associations

nice to see wilmington on the list. the housing market is just getting kick started now though. it won't be too cheap for much longer.

Median home price in Phx is $250,000

http://money.cnn.com/pf/features/lists/nar_2q05/

In about 5 years, housing in the Phoenix area will be very expensive, on par with Florida, California.......

I doubt Phoenix will ever reach the levels of California.

http://money.cnn.com/pf/features/lists/nar_2q05/

The list on this link has metro areas that don't make sense.

For example they list:

For NYC you have the MSA and then separate Metro divisions.

New York-Northern New Jersey-Long Island, NY-NJ-PA
New York-Wayne-White Plains, NY-NJ
Long Island, NY
Newark-Union, NJ
Edison, NJ

Also

For LA they list the MSA and then break out Orange County separately but not LA County separately

Los Angeles-Long Beach-Santa Ana, CA
Anaheim-Santa Ana, CA

Weird comparisons IMO.