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.
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50 | Little Rock, Arkansas
Shutterstock- 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
Shutterstock- 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
Shutterstock- 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
Shutterstock- Median list price: $404,193
- Median home value: $324,520
- Difference between list price and home value: $79,673
46 | Goldsboro, North Carolina
Wileydoc / Shutterstock.com- Median list price: $167,234.95
- Median home value: $87,330
- Difference between list price and home value: $79,904.95
45 | Mission, Texas
Shutterstock- 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
Shutterstock- Median list price: $288,780.85
- Median home value: $207,560
- Difference between list price and home value: $81,220.85
43 | McAllen, Texas
Shutterstock- Median list price: $219,580
- Median home value: $137,540
- Difference between list price and home value: $82,040
42 | Pensacola, Florida
Shutterstock- Median list price: $227,870
- Median home value: $145,350
- Difference between list price and home value: $82,520
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41 | Woodstock, Georgia
Animas Photography / Shutterstock.com- Median list price: $340,976
- Median home value: $257,420
- Difference between list price and home value: $83,556
40 | Santa Barbara, California
Shutterstock- Median list price: $1,326,575
- Median home value: $1,242,050
- Difference between list price and home value: $84,525
39 | Escondido, California
Shutterstock- Median list price: $624,533.65
- Median home value: $538,070
- Difference between list price and home value: $86,463.65
38 | Holland, Michigan
Shutterstock- Median list price: $288,340
- Median home value: $200,960
- Difference between list price and home value: $87,380
37 | Frisco, Texas
Shutterstock- Median list price: $486,455.60
- Median home value: $398,510
- Difference between list price and home value: $87,945.60
36 | Allen, Texas
Eric Urquhart / Shutterstock.com- Median list price: $409,868.20
- Median home value: $319,670
- Difference between list price and home value: $90,198.20
35 | Beaumont, Texas
Shutterstock- Median list price: $200,773.70
- Median home value: $108,700
- Difference between list price and home value: $92,073.70
34 | Plymouth, Minnesota
Shutterstock- 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
Amilcar Lugo Diaz / Shutterstock.com- Median list price: $178,576
- Median home value: $82,400
- Difference between list price and home value: $96,176
32 | Alpharetta, Georgia
Shutterstock- 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
Shutterstock- Median list price: $831,343.80
- Median home value: $735,060
- Difference between list price and home value: $96,283.80
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30 | Savannah, Georgia
Sean Pavone / Shutterstock- Median list price: $232,712
- Median home value: $136,280
- Difference between list price and home value: $96,432
29 | Napa, California
Shutterstock- Median list price: $780,670
- Median home value: $683,240
- Difference between list price and home value: $97,430
28 | Olathe, Kansas
Shutterstock- Median list price: $360,485
- Median home value: $263,050
- Difference between list price and home value: $97,435
27 | Franklin, Tennessee
Shutterstock- Median list price: $575,085.50
- Median home value: $477,640
- Difference between list price and home value: $97,445.50
26 | Houston, Texas
iStock- Median list price: $293,654.40
- Median home value: $195,790
- Difference between list price and home value: $97,864.40
25 | Hoover, Alabama
Connie Lewellen / Shutterstock.com- Median list price: $391,873.30
- Median home value: $293,740
- Difference between list price and home value: $98,133.30
24 | Tampa, Florida
Shutterstock- 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
Shutterstock- Median list price: $578,090
- Median home value: $478,670
- Difference between list price and home value: $99,420
22 | Santa Fe, New Mexico
Shutterstock- Median list price: $504,228.30
- Median home value: $400,330
- Difference between list price and home value: $103,898.30
21 | Chattanooga, Tennessee
iStock- Median list price: $252,585
- Median home value: $146,400
- Difference between list price and home value: $106,185
20 | Sugar Land, Texas
Alizada Studios / Shutterstock.com- Median list price: $410,760.05
- Median home value: $304,180
- Difference between list price and home value: $106,580.05
19 | Huntsville, Alabama
Shutterstock- Median list price: $262,082
- Median home value: $153,360
- Difference between list price and home value: $108,722
18 | Charlottesville, Virginia
iStock- Median list price: $444,794.85
- Median home value: $334,840
- Difference between list price and home value: $109,954.85
17 | Monroe, Louisiana
Bonita R. Cheshier/Shutterstock- Median list price: $208,920
- Median home value: $96,350
- Difference between list price and home value: $112,570
16 | Newport Beach, California
Shutterstock- 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
Shutterstock- Median list price: $456,946.40
- Median home value: $343,520
- Difference between list price and home value: $113,426.40
14 | Miami, Florida
Shutterstock- Median list price: $476,100
- Median home value: $359,150
- Difference between list price and home value: $116,950
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13 | Tyler, Texas
Shutterstock- Median list price: $263,515.65
- Median home value: $145,100
- Difference between list price and home value: $118,415.65
12 | Gainesville, Georgia
Shutterstock- Median list price: $304,830
- Median home value: $186,350
- Difference between list price and home value: $118,480
11 | Chicago, Illinois
Shutterstock- Median list price: $336,970
- Median home value: $212,260
- Difference between list price and home value: $124,710
10 | Vienna, Virginia
Shutterstock- Median list price: $936,431.75
- Median home value: $806,110
- Difference between list price and home value: $130,321.75
9 | Rogers, Arkansas
RaksyBH / Shutterstock.com- 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
Shutterstock / Solarisys- Median list price: $496,465
- Median home value: $355,730
- Difference between list price and home value: $140,735
7 | Irving, Texas
Shutterstock- Median list price: $370,463.35
- Median home value: $226,170
- Difference between list price and home value: $144,293.35
6 | Boston, Massachusetts
Shutterstock/Sean Pavone- Median list price: $743,090
- Median home value: $596,680
- Difference between list price and home value: $146,410
5 | New Orleans, Louisiana
Sean Pavone / Shutterstock- Median list price: $327,650
- Median home value: $168,820
- Difference between list price and home value: $158,830
4 | Dallas, Texas
iStock- 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
iStock- Median list price: $788,240
- Median home value: $616,890
- Difference between list price and home value: $171,350
2 | Arcadia, California
Shutterstock- Median list price: $1,468,940
- Median home value: $1,228,250
- Difference between list price and home value: $240,690
1 | Bethesda, Maryland
Shutterstock- Median list price: $1,219,050
- Median home value: $971,090
- Difference between list price and home value: $247,960
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