Right behind its metropolitan neighbor (placing 7th with Dallas at 6th), Houston is also on the Forbes Most Affordable Places to Live list for 2009. Again, well-priced housing was a major factor in compiling the rankings; so, this is bound to increase an interest in Houston home listings.

Despite this great publicity, figures have surfaced that reflect a drop in the number of low-priced homes sold out of foreclosure, which is thought to have helped push Houston's median home price to an all-time high in June. The Houston Chronicle reports that the value of a single family home in Houston is now $164,500 – an increase of $4,450 from one year ago. Additionally, June marked the second straight month in which the median price jumped, after falling for the previous seven.

Does this matter for buyers? While it shouldn’t be discounted entirely, buyers need to remember that median prices fluctuate depending on what types of homes are sold each month. Also, it’s important to remember that the median is merely the midpoint at which half the homes sell for more and half for less. The foreclosure market in Houston has fluctuated in recent months as well. Buyers can interpret this as good if they are seeking a foreclosed property – or, less favorable if they crave predictability.

In any case, one of the nation’s foremost financial publications has ranked Houston as a top U.S. city in terms of affordability. If respected economic forecasters continue to give Houston accolades, buyers can gain security from this opinion.