• Median home price: $349,000
• Median income: $91,900
• % of homes that are affordable: 55.3%

Newark doesn't conjure up images of luxury high-rises or leafy upper-middle-class suburbs, but the communities surrounding it do.

In fact, in the inner city, a typical house costs less than $160,000, according to Trulia. But in nearby Manhattan-satellite cities, like Jersey City and Hoboken, prices are much higher. So, too, are prices in the lush New Jersey suburbs of Madison, Morristown and Short Hills. All of that serves to lift the area's overall median home prices.

Despite all of these pricey homes, a high median income in the area has helped to raise the area's affordability score and more than half of homes sold last quarter could be purchased by the typical local family.

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