Is your home over-valued?
Overvalued Housing Market? Depends Where You Live
Most Overvalued, Most Undervalued of the 317 Largest U.S. Metro Areas Examined
A new study, House Prices in America, using Global Insight's extensive proprietary databases on the housing market - which combined data and forecasts for home prices, home sales, housing stock, and household income with a methodology developed by the economics department of National City Corporation — examines current and expected housing prices in the 317 largest U.S. Metropolitan areas.
Study findings indicate that 71 metropolitan areas, representing 39 percent of the nation's housing market, "are extremely overvalued and at risk for a price correction." While price appreciation continues at a historically high rate - boosted by especially strong increases in markets that are already overvalued - the pace of appreciation is slowing.
The Global Insight Housing Price Index
This new index has been developed by our U.S. Regional Real Estate Service experts. Our U.S. Regional Real Estate Service is focused on delivering detailed analysis of demand-side drivers for the residential real estate market in each state and is updated quarterly.
Out-of-whack home prices
Metro areas' first quarter housing prices with the greatest percentage above and below what they should be:
| Metro area |
Average price
|
Over/under valued
|
 |
||
| Abilene, TX |
$71,500
|
-9.2%
|
|
||
| Akron, OH |
$133,800
|
-1.9%
|
|
||
| Albany, GA |
$89,100
|
-2.9%
|
|
||
| Albany, NY |
$186,300
|
18.5%
|
|
||
| Albuquerque, NM |
$170,900
|
8.0%
|
|
||
| Alexandria, LA |
$83,400
|
-5.7%
|
|
||
| Allentown, PA-NJ |
$201,600
|
17.9%
|
|
||
| Amarillo, TX |
$88,200
|
-2.9%
|
|
||
| Anchorage, AK |
$228,400
|
22.2%
|
|
||
| Anderson, IN |
$93,200
|
-1.6%
|
|
||
| Anderson, SC |
$99,700
|
3.2%
|
|
||
| Ann Arbor, MI |
$216,100
|
12.8%
|
|
||
| Appleton, WI |
$137,700
|
-0.5%
|
|
||
| Asheville, NC |
$152,800
|
32.1%
|
|
||
| Athens, GA |
$139,500
|
1.2%
|
|
||
| Atlanta, GA |
$175,800
|
0.8%
|
|
||
| Atlantic City, NJ |
$254,200
|
63.9%
|
|
||
| Augusta, GA-SC |
$109,500
|
0.8%
|
|
||
| Austin, TX |
$149,900
|
-6.8%
|
|
||
| Bakersfield, CA |
$225,500
|
62.3%
|
|
||
| Baltimore, MD |
$272,600
|
31.7%
|
|
||
| Barnstable, MA |
$356,800
|
43.4%
|
|
||
| Baton Rouge, LA |
$115,600
|
3.2%
|
|
||
| Battle Creek, MI |
$104,200
|
18.6%
|
|
||
| Bay City, MI |
$107,200
|
22.9%
|
|
||
| Beaumont, TX |
$73,200
|
-7.3%
|
|
||
| Bellingham, WA |
$277,000
|
51.5%
|
|
||
| Bend, OR |
$276,100
|
76.4%
|
|
||
| Bethesda, MD |
$433,900
|
33.0%
|
|
||
| Billings, MT |
$142,000
|
8.3%
|
|
||
| Binghamton, NY |
$103,200
|
4.0%
|
|
||
| Birmingham, AL |
$120,800
|
-5.2%
|
|
||
| Bismarck ND |
$120,100
|
2.0%
|
|
||
| Blacksburg, VA |
$123,800
|
3.2%
|
|
||
| Bloomington, IN |
$120,600
|
-0.1%
|
|
||
| Bloomington-Normal, IL |
$131,900
|
-0.5%
|
|
||
| Boise City, ID |
$180,400
|
28.6%
|
|
||
| Boston-Quincy, MA |
$360,200
|
10.7%
|
|
||
| Boulder, CO |
$293,800
|
15.6%
|
|
||
| Bowling Green, KY |
$108,900
|
-2.5%
|
|
||
| Bremerton, WA |
$263,600
|
32.3%
|
|
||
| Bridgeport, CT |
$466,800
|
9.8%
|
|
||
| Brunswick, GA |
$122,500
|
16.5%
|
|
||
| Buffalo, NY |
$112,900
|
-5.9%
|
|
||
| Burlington, NC |
$110,600
|
-0.1%
|
|
||
| Burlington, VT |
$212,900
|
18.8%
|
|
||
| Cambridge-Framingham, MA |
$391,400
|
3.5%
|
|
||
| Camden, NJ |
$227,800
|
23.7%
|
|
||
| Canton, OH |
$117,400
|
6.0%
|
|
||
| Cape Coral-Fort Meyers, FL |
$245,500
|
63.0%
|
|
||
| Carson City, NV |
$291,300
|
45.6%
|
|
||
| Casper, WY |
$140,800
|
28.9%
|
|
||
| Cedar Rapids, IA |
$112,800
|
-1.7%
|
|
||
| Champaign, IL |
$117,800
|
11.0%
|
|
||
| Charleston, SC |
$168,200
|
31.2%
|
|
||
| Charleston, WV |
$89,700
|
-8.4%
|
|
||
| Charlotte, NC-SC |
$146,200
|
-4.6%
|
|
||
| Charlottesville, VA |
$244,700
|
29.0%
|
|
||
| Chattanooga, TN-GA |
$115,200
|
4.1%
|
|
||
| Cheyenne, WY |
$147,600
|
1.4%
|
|
||
| Chicago, IL |
$246,700
|
20.4%
|
|
||
| Chico, CA |
$271,100
|
60.7%
|
|
||
| Cincinnati, OH-KY-IN |
$140,100
|
-3.1%
|
|
||
| Cleveland, OH |
$143,800
|
3.3%
|
|
||
| College Station-Bryan, TX |
$94,200
|
-23.7%
|
|
||
| Colorado Springs, CO |
$195,700
|
6.4%
|
|
||
| Columbia, MO |
$125,200
|
-5.8%
|
|
||
| Columbia, SC |
$117,300
|
0.1%
|
|
||
| Columbus, GA-AL |
$111,800
|
-2.4%
|
|
||
| Columbus, IN |
$119,000
|
-2.6%
|
|
||
| Columbus, OH |
$149,400
|
-0.4%
|
|
||
| Corpus Christi, TX |
$92,000
|
-7.7%
|
|
||
| Corvallis, OR |
$237,200
|
15.6%
|
|
||
| Dallas, TX |
$129,000
|
-18.9%
|
|
||
| Dalton, GA |
$107,200
|
1.8%
|
|
||
| Davenport-Moline, IA-IL |
$103,000
|
3.2%
|
|
||
| Dayton, OH |
$120,200
|
-2.0%
|
|
||
| Decatur, AL |
$91,400
|
-10.3%
|
|
||
| Decatur, IL |
$81,200
|
-5.6%
|
|
||
| Deltona-Daytona Beach, FL |
$186,000
|
53.6%
|
|
||
| Denver, CO |
$223,300
|
5.9%
|
|
||
| Des Moines, IA |
$127,500
|
-1.4%
|
|
||
| Detroit, MI |
$118,500
|
27.8%
|
|
||
| Dover, DE |
$174,000
|
26.4%
|
|
||
| Dubuque, IA |
$118,200
|
5.5%
|
|
||
| Duluth, MN-WI |
$123,500
|
27.2%
|
|
||
| Durham, NC |
$163,200
|
2.3%
|
|
||
| Eau Claire, WI |
$125,600
|
15.3%
|
|
||
| Edison, NJ |
$349,000
|
33.0%
|
|
||
| El Paso, TX |
$94,000
|
-13.1%
|
|
||
| Elkhart, IN |
$113,700
|
-8.1%
|
|
||
| Erie, PA |
$99,400
|
-0.4%
|
|
||
| Essex County, MA |
$346,000
|
24.0%
|
|
||
| Eugene, OR |
$214,400
|
41.6%
|
|
||
| Evansville, IN-KY |
$98,300
|
-5.1%
|
|
||
| Fairbanks, AK |
$180,700
|
11.1%
|
|
||
| Fargo, ND-MN |
$126,800
|
-0.6%
|
|
||
| Farmington, NM |
$123,800
|
22.5%
|
|
||
| Fayetteville, AR-MO |
$129,200
|
8.2%
|
|
||
| Flagstaff, AZ |
$248,800
|
42.0%
|
|
||
| Flint, MI |
$110,900
|
21.4%
|
|
||
| Florence, SC |
$82,800
|
-5.1%
|
|
||
| Fond du Lac, WI |
$133,300
|
8.7%
|
|
||
| Fort Collins, CO |
$220,500
|
9.6%
|
|
||
| Fort Lauderdale, FL |
$262,600
|
57.3%
|
|
||
| Fort Smith, AR-OK |
$80,400
|
-6.8%
|
|
||
| Fort Walton Beach, FL |
$214,800
|
38.8%
|
|
||
| Fort Wayne, IN |
$102,200
|
-5.9%
|
|
||
| Fort Worth, TX |
$105,500
|
-18.5%
|
|
||
| Fresno, CA |
$260,800
|
63.6%
|
|
||
| Gainesville, FL |
$157,200
|
26.7%
|
|
||
| Gainesville, GA |
$147,900
|
7.5%
|
|
||
| Gary, IN |
$131,300
|
5.4%
|
|
||
| Grand Junction, CO |
$171,400
|
27.8%
|
|
||
| Grand Rapids, MI |
$133,300
|
5.3%
|
|
||
| Greeley, CO |
$176,400
|
20.8%
|
|
||
| Green Bay, WI |
$144,300
|
6.3%
|
|
||
| Greensboro-High Point, NC |
$121,000
|
1.5%
|
|
||
| Greenville, NC |
$95,600
|
-3.1%
|
|
||
| Greenville, SC |
$114,100
|
-2.8%
|
|
||
| Gulfport-Biloxi, MS |
$112,900
|
34.4%
|
|
||
| Hanford, CA |
$212,800
|
38.6%
|
|
||
| Harrisburg, PA |
$146,500
|
3.1%
|
|
||
| Harrisonburg, VA |
$177,600
|
21.6%
|
|
||
| Hartford, CT |
$237,300
|
4.6%
|
|
||
| Hattiesburg, MS |
$90,200
|
2.7%
|
|
||
| Hickory, NC |
$102,900
|
8.3%
|
|
||
| Holland, MI |
$157,200
|
11.7%
|
|
||
| Honolulu, HI |
$585,300
|
39.2%
|
|
||
| Houma, LA |
$98,600
|
-5.1%
|
|
||
| Houston, TX |
$110,600
|
-15.8%
|
|
||
| Huntsville, AL |
$120,600
|
-10.4%
|
|
||
| Idaho Falls, ID |
$122,400
|
3.0%
|
|
||
| Indianapolis, IN |
$136,700
|
-8.6%
|
|
||
| Iowa City, IA |
$148,600
|
-3.2%
|
|
||
| Ithaca, NY |
$150,400
|
12.3%
|
|
||
| Jackson, MI |
$122,600
|
19.7%
|
|
||
| Jackson, MS |
$102,600
|
-3.6%
|
|
||
| Jacksonville, FL |
$179,000
|
31.4%
|
|
||
| Janesville, WI |
$126,700
|
19.5%
|
|
||
| Jefferson City, MO |
$111,300
|
-3.6%
|
|
||
| Joplin, MO |
$89,800
|
1.8%
|
|
||
| Kalamazoo, MI |
$129,200
|
10.6%
|
|
||
| Kankakee, IL |
$127,000
|
15.1%
|
|
||
| Kansas City, MO-KS |
$136,800
|
1.1%
|
|
||
| Kennewick, WA |
$142,600
|
9.2%
|
|
||
| Killeen, TX |
$93,000
|
-15.1%
|
|
||
| Kingston, NY |
$220,500
|
45.7%
|
|
||
| Knoxville, TN |
$127,000
|
4.7%
|
|
||
| Kokomo, IN |
$100,300
|
7.7%
|
|
||
| La Crosse, WI-MN |
$129,700
|
14.4%
|
|
||
| Lafayette, IN |
$114,000
|
-11.0%
|
|
||
| Lafayette, LA |
$115,600
|
-0.4%
|
|
||
| Lake-Kenosha, IL-WI |
$256,200
|
9.7%
|
|
||
| Lakeland, FL |
$137,200
|
37.2%
|
|
||
| Lancaster, PA |
$174,700
|
13.3%
|
|
||
| Lansing, MI |
$136,600
|
14.7%
|
|
||
| Las Cruces, NM |
$112,500
|
5.0%
|
|
||
| Las Vegas, NV |
$282,600
|
41.8%
|
|
||
| Lawrence, KS |
$155,200
|
-2.0%
|
|
||
| Lebanon, PA |
$130,400
|
1.6%
|
|
||
| Lexington, KY |
$139,400
|
2.4%
|
|
||
| Lima, OH |
$105,000
|
8.2%
|
|
||
| Lincoln, NE |
$127,200
|
-4.6%
|
|
||
| Little Rock, AR |
$105,600
|
-4.9%
|
|
||
| Logan, UT-ID |
$152,700
|
3.1%
|
|
||
| Longview, TX |
$83,500
|
-11.7%
|
|
||
| Longview, WA |
$178,500
|
35.7%
|