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ClassifiedsReal Estate

Long Island 7th most expensive market to own a home

Long Island dropped from sixth to seventh place last year in the list of most expensive markets to own a home, reported the Center for Housing Policy, the research arm of the nonprofit National Housing Conference in Washington, D.C.

In the rental market, Long Island fell to fifth place last year from fourth in 2008, data show for two-bedroom apartments.

The center's updated report, Paycheck to Paycheck: Wages and the Cost of Housing in America, took about 200 metro areas and looked at each market's affordability for people in more than 60 occupations, from accountant to welder. It concluded that police officers could not afford to purchase the median-priced home in 86 metro areas, licensed practical nurses in 146 of the markets, janitors in 202 of the metro areas and retail sales people in 207 areas.

In home ownership, New York City fell from No. 2 in 2008 to No. 6 last year, data show. In the arena for a two-bedoorm rental, the city fell from No. 12 in 2008 to No. 13 to last year, the center said.

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