Buying a home can either be a great investment or a money-draining liability. And while there are safer bets than others, no one can predict all the ebbs and flows of the housing market. What can be said with certainty is that the houses in some cities carry price tags that exceed their actual value. To learn where exactly this is the case, we turned to a new GoBankingRates study that identifies the 50 cities with the most overpriced homes in the U.S.
Using 2019 housing data from Zillow, GOBankingRates analyzed the 722 biggest housing markets in the country. For each city, they took the median list price and compared it to the median home value to see which had the largest disparity between price and value. Read on to discover which city has the most overpriced homes in America.
RELATED: This Is Exactly How Much Your Home's Value Will Change in 2021, Experts Say.
50 Little Rock, Arkansas
- Median list price: $218,415.10
- Median home value: $140,360
- Difference between list price and home value: $78,055.10
49 Overland Park, Kansas
- Median list price: $396,944.45
- Median home value: $318,550
- Difference between list price and home value: $78,394.45
48 Greenville, South Carolina
- Median list price: $269,716.50
- Median home value: $190,640
- Difference between list price and home value: $79,076.50
47 Glen Allen, Virginia
- Median list price: $404,193
- Median home value: $324,520
- Difference between list price and home value: $79,673
46 Goldsboro, North Carolina
- Median list price: $167,234.95
- Median home value: $87,330
- Difference between list price and home value: $79,904.95
45 Mission, Texas
- Median list price: $210,977.25
- Median home value: $129,980
- Difference between list price and home value: $80,997.25
44 Concord, North Carolina
- Median list price: $288,780.85
- Median home value: $207,560
- Difference between list price and home value: $81,220.85
43 McAllen, Texas
- Median list price: $219,580
- Median home value: $137,540
- Difference between list price and home value: $82,040
42 Pensacola, Florida
- Median list price: $227,870
- Median home value: $145,350
- Difference between list price and home value: $82,520
RELATED: This Is the Most Expensive State in America, According to Data.
41 Woodstock, Georgia
- Median list price: $340,976
- Median home value: $257,420
- Difference between list price and home value: $83,556
40 Santa Barbara, California
- Median list price: $1,326,575
- Median home value: $1,242,050
- Difference between list price and home value: $84,525
39 Escondido, California
- Median list price: $624,533.65
- Median home value: $538,070
- Difference between list price and home value: $86,463.65
38 Holland, Michigan
- Median list price: $288,340
- Median home value: $200,960
- Difference between list price and home value: $87,380
37 Frisco, Texas
- Median list price: $486,455.60
- Median home value: $398,510
- Difference between list price and home value: $87,945.60
36 Allen, Texas
- Median list price: $409,868.20
- Median home value: $319,670
- Difference between list price and home value: $90,198.20
35 Beaumont, Texas
- Median list price: $200,773.70
- Median home value: $108,700
- Difference between list price and home value: $92,073.70
34 Plymouth, Minnesota
- Median list price: $471,739.50
- Median home value: $377,160
- Difference between list price and home value: $94,579.50
33 Sumter, South Carolina
- Median list price: $178,576
- Median home value: $82,400
- Difference between list price and home value: $96,176
32 Alpharetta, Georgia
- Median list price: $501,744.20
- Median home value: $405,520
- Difference between list price and home value: $96,224.20
31 Los Angeles, California
- Median list price: $831,343.80
- Median home value: $735,060
- Difference between list price and home value: $96,283.80
RELATED: This Is How Much Money People Your Age Make in Your State, Data Shows.
30 Savannah, Georgia
- Median list price: $232,712
- Median home value: $136,280
- Difference between list price and home value: $96,432
29 Napa, California
- Median list price: $780,670
- Median home value: $683,240
- Difference between list price and home value: $97,430
28 Olathe, Kansas
- Median list price: $360,485
- Median home value: $263,050
- Difference between list price and home value: $97,435
27 Franklin, Tennessee
- Median list price: $575,085.50
- Median home value: $477,640
- Difference between list price and home value: $97,445.50
26 Houston, Texas
- Median list price: $293,654.40
- Median home value: $195,790
- Difference between list price and home value: $97,864.40
25 Hoover, Alabama
- Median list price: $391,873.30
- Median home value: $293,740
- Difference between list price and home value: $98,133.30
24 Tampa, Florida
- Median list price: $324,054.90
- Median home value: $225,020
- Difference between list price and home value: $99,034.90
23 Jersey City, New Jersey
- Median list price: $578,090
- Median home value: $478,670
- Difference between list price and home value: $99,420
22 Santa Fe, New Mexico
- Median list price: $504,228.30
- Median home value: $400,330
- Difference between list price and home value: $103,898.30
21 Chattanooga, Tennessee
- Median list price: $252,585
- Median home value: $146,400
- Difference between list price and home value: $106,185
20 Sugar Land, Texas
- Median list price: $410,760.05
- Median home value: $304,180
- Difference between list price and home value: $106,580.05
19 Huntsville, Alabama
- Median list price: $262,082
- Median home value: $153,360
- Difference between list price and home value: $108,722
18 Charlottesville, Virginia
- Median list price: $444,794.85
- Median home value: $334,840
- Difference between list price and home value: $109,954.85
17 Monroe, Louisiana
- Median list price: $208,920
- Median home value: $96,350
- Difference between list price and home value: $112,570
16 Newport Beach, California
- Median list price: $2,546,800
- Median home value: $2,433,680
- Difference between list price and home value: $113,120
15 The Woodlands, Texas
- Median list price: $456,946.40
- Median home value: $343,520
- Difference between list price and home value: $113,426.40
14 Miami, Florida
- Median list price: $476,100
- Median home value: $359,150
- Difference between list price and home value: $116,950
And for more financial facts and city and state guides sent straight to your inbox, sign up for our daily newsletter.
13 Tyler, Texas
- Median list price: $263,515.65
- Median home value: $145,100
- Difference between list price and home value: $118,415.65
12 Gainesville, Georgia
- Median list price: $304,830
- Median home value: $186,350
- Difference between list price and home value: $118,480
11 Chicago, Illinois
- Median list price: $336,970
- Median home value: $212,260
- Difference between list price and home value: $124,710
10 Vienna, Virginia
- Median list price: $936,431.75
- Median home value: $806,110
- Difference between list price and home value: $130,321.75
9 Rogers, Arkansas
- Median list price: $321,854.75
- Median home value: $184,960
- Difference between list price and home value: $136,894.75
8 Fort Lauderdale, Florida
- Median list price: $496,465
- Median home value: $355,730
- Difference between list price and home value: $140,735
7 Irving, Texas
- Median list price: $370,463.35
- Median home value: $226,170
- Difference between list price and home value: $144,293.35
6 Boston, Massachusetts
- Median list price: $743,090
- Median home value: $596,680
- Difference between list price and home value: $146,410
5 New Orleans, Louisiana
- Median list price: $327,650
- Median home value: $168,820
- Difference between list price and home value: $158,830
4 Dallas, Texas
- Median list price: $387,659.90
- Median home value: $224,620
- Difference between list price and home value: $163,039.90
3 New York, New York
- Median list price: $788,240
- Median home value: $616,890
- Difference between list price and home value: $171,350
2 Arcadia, California
- Median list price: $1,468,940
- Median home value: $1,228,250
- Difference between list price and home value: $240,690
1 Bethesda, Maryland
- Median list price: $1,219,050
- Median home value: $971,090
- Difference between list price and home value: $247,960
RELATED: This Is the No. 1 Regret Homeowners Have, Study Shows.
Filed UnderCities • Finance • Home • NewsRead This NextThis Is the Most Expensive State in America
From taxes to hourly wages, living in this state costs a pretty penny. March 29, 2021This Much Money Makes You Rich in Your State
The annual income you need to make to be considered wealthy varies by state. June 1, 2021The Smart Man's Guide to Spotting Counterfeit Wine
That $2,000 bottle of Bourdeaux might be worth $20. Here’s how to be sure it’s the real thing.April 13, 2017The 5 Best Light-Bodied Red Wines for Extending Your Summer
Don't let September ruin a killer party. August 25, 201717 Insanely Cool New Luxury Bicycles for Spring
Meet the bikes that cost more than a car.March 31, 2017Best Life Essentials
You deserve the best. Live life to the fullest with these ultimate essentials.October 21, 2016This Is the Safest Way to Store Meat
Don't let that filet set you up for food poisoning. February 7, 2018Here Are the 10 Wealthiest Cryptocurrency Millionaires Under 40
Including one guy who is only 24 years-old!February 7, 2018This Is the Safest Way to Clean Your Floors
Keep your floors clean and looking brand new with this easy tip. February 8, 201815 Things Your Real Estate Agent Won't Tell You
These are sure to shock even the most intrepid homebuyers. February 14, 2018
