Best Affordable Suburbs: West

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That ability to buck the odds was due in large part to stable local employers such as Microsoft (MSFT), Amazon.com (AMZN), Real Networks (RNWK), and Starbucks (SBUX), according to the NAR (see BusinessWeek.com, 2/20/07, "Housing Bust Rebels"),

The median home price in Mukilteo, Wash., roughly 20 miles from Seattle, is now $699,900, the highest on our list. But it's easy to find homes in the town at a lower price point, says Elizabeth Erickson, owner of Gallery Homes Real Estate in Mukilteo. And even if you don't pay the property taxes on a million-dollar home, you can still have access to Mukilteo's school system, which has an annual budget of about $100 million for 14,000 students.

"There's an excellent quality of life here," says Erickson, who has lived in Mukilteo for more than 12 years. "And there's potential galore with our waterfront." Perched on the eastern shore of Puget Sound, Mukilteo boasts the last city-owned undeveloped waterfront in Washington state. Here, the community's 100-year-old lighthouse is celebrated each year with a weekend of parades, entertainment, and fireworks.

Reno 411

Still wish you were going to San Francisco? Try Reno, Nev., instead. You might feel at home among the many housing market refugees. "There are a lot of Bay Area people moving here, a lot of young families," says Reno resident Abbi Holtom Whitaker, 31, who moved to the city 11 years ago and plans to raise her own family there. As a marketing consultant working from home, Whitaker could have lived anywhere, but she chose to live in Reno, of all places, after attending college in the city.

Of course, there are jobs in Reno, too. Companies such as Barnes & Noble (BKS) and Charter Communications (CHTR) have offices in the area. Then there's the gaming industry, although business here has slowed since Las Vegas took over from Reno in the 1960s as the gambling capital of the U.S. Now, Reno's downtown is undergoing revitalization as developers convert old casinos into condominiums.

Even with all the development, the median home price in Reno is still only $439,000. And the city of 200,000, nicknamed the "Biggest Little City in the World," has many suburban areas and plenty to do outdoors. Lake Tahoe is about 20 miles away, offering numerous ski resorts, trails with hiking and mountain biking, and water sports. "If you love the outdoors and you want a place to raise your family, this is it," Whitaker gushes. "It's the most perfect place."

Click here to see our list of the 20 Best Affordable Suburbs in the West.

For more best affordable suburb ideas, see Maya Roney's blog.

Roney is Real Estate writer for BusinessWeek.com.