15 Cities Where Home Prices Are Way Higher Than They Should Be
By:
Sarah Hansen
Sarah Hansen
Senior Writer | Joined October 2021
Has also written:
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Vanessa Garcia / Money; Getty Images
It's no secret that homes are expensive everywhere. But what you might not know is that buyers in some cities are paying premiums upwards of 60%.
A recent analysis from Florida Atlantic University and Florida International University identified the most overvalued housing markets in the country. The top finding? Buyers in the most overvalued market — Boise, Idaho — are paying an eye-watering premium of 73%, largely thanks to the recent boom in remote work.
The researchers found that historical price data suggests homes in Boise should cost $299,202 on average. Instead, the typical buyer is forking over $516,548 — roughly $217,000 more than they quote-unquote should.
