25 Metro Areas With the Most Overpriced Homes

·4 min read
DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto

The steady rise in U.S. home values is an encouraging sign for the economy -- banged up as it's been by the pandemic. But too much growth can lead to instability, and instability naturally leads to collapse. A hot housing market may indicate a budding town with a healthy employment rate, attractive jobs and growing wages. However, it could also mean that sellers are becoming greedy and listing homes far above their natural value.

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To determine which housing markets in the U.S. are the most overpriced, GOBankingRates used data from Zillow to analyze the difference between the median list price and median home value for single-family residences in the nation's largest housing markets. Home values in these cities are growing especially fast..

Prospective homebuyers should be wary: One of these cities could be the location of the next housing bubble.

Last updated: July 27, 2021

Alexey Smolyanyy / Shutterstock.com
Alexey Smolyanyy / Shutterstock.com

Stamford, Connecticut

  • 2021 home value: $1,063,089

  • 2021 median listing price: $561,128

  • Difference between home value and list price: $501,961

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DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto

Los Angeles/Long Beach/Anaheim, California

  • 2021 home value: $1,158,318

  • 2021 median listing price: $799,718

  • Difference between home value and list price: $358,600

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DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto

Boston, Massachusetts

  • 2021 home value: $732,480

  • 2021 median listing price: $576,879

  • Difference between home value and list price: $155,601

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Mercuri / Getty Images/iStockphoto
Mercuri / Getty Images/iStockphoto

Miami/Ft. Lauderdale, Florida

  • 2021 home value: $540,712

  • 2021 median listing price: $387,070

  • Difference between home value and list price: $153,642

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Dancestrokes / Shutterstock.com
Dancestrokes / Shutterstock.com

San Diego, California

  • 2021 home value: $898,067

  • 2021 median listing price: $757,519

  • Difference between home value and list price: $140,547

Sean Pavone / Shutterstock.com
Sean Pavone / Shutterstock.com

Tulsa, Oklahoma

  • 2021 home value: $307,801

  • 2021 median listing price: $169,744

  • Difference between home value and list price: $138,056

TriggerPhoto / Getty Images/iStockphoto
TriggerPhoto / Getty Images/iStockphoto

Kansas City, Missouri

  • 2021 home value: $375,260

  • 2021 median listing price: $237,838

  • Difference between home value and list price: $137,422

f11photo / Shutterstock.com
f11photo / Shutterstock.com

Charleston, South Carolina

  • 2021 home value: $443,545

  • 2021 median listing price: $308,402

  • Difference between home value and list price: $135,143

rypson / Getty Images
rypson / Getty Images

New York, New York

  • 2021 home value: $666,847

  • 2021 median listing price: $531,744

  • Difference between home value and list price: $135,103

JTSorrell / Getty Images
JTSorrell / Getty Images

Oklahoma City, Oklahoma

  • 2021 home value: $302,514

  • 2021 median listing price: $176,456

  • Difference between home value and list price: $126,059

SeanPavonePhoto / Getty Images/iStockphoto
SeanPavonePhoto / Getty Images/iStockphoto

Jackson, Mississippi

  • 2021 home value: $280,643

  • 2021 median listing price: $156,713

  • Difference between home value and list price: $123,930

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Shutterstock.com

Richmond, Virginia

  • 2021 home value: $399,160

  • 2021 median listing price: $278,058

  • Difference between home value and list price: $121,102

aceshot / Getty Images/iStockphoto
aceshot / Getty Images/iStockphoto

Cincinnati, Ohio

  • 2021 home value: $341,410

  • 2021 median listing price: $221,792

  • Difference between home value and list price: $119,618

Kristopher Kettner / Shutterstock.com
Kristopher Kettner / Shutterstock.com

Omaha, Nebraska

  • 2021 home value: $335,549

  • 2021 median listing price: $225,994

  • Difference between home value and list price: $109,555

peeterv / iStock.com
peeterv / iStock.com

Charlotte, North Carolina

  • 2021 home value: $389,064

  • 2021 median listing price: $280,031

  • Difference between home value and list price: $109,033

Chris LaBasco / Getty Images/iStockphoto
Chris LaBasco / Getty Images/iStockphoto

Sacramento, California

  • 2021 home value: $612,028

  • 2021 median listing price: $503,228

  • Difference between home value and list price: $108,800

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

Houston, Texas

  • 2021 home value: $351,064

  • 2021 median listing price: $244,153

  • Difference between home value and list price: $106,912

MechanicSloth / Shutterstock.com
MechanicSloth / Shutterstock.com

McAllen, Texas

  • 2021 home value: $239,419

  • 2021 median listing price: $134,152

  • Difference between home value and list price: $105,267

DenisTangneyJr / Getty Images
DenisTangneyJr / Getty Images

Winston-Salem, North Carolina

  • 2021 home value: $289,154

  • 2021 median listing price: $184,326

  • Difference between home value and list price: $104,828

graphiknation / Getty Images/iStockphoto
graphiknation / Getty Images/iStockphoto

Atlanta, Georgia

  • 2021 home value: $381,647

  • 2021 median listing price: $279,304

  • Difference between home value and list price: $102,343

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

Albuquerque, New Mexico

  • 2021 home value: $351,009

  • 2021 median listing price: $251,613

  • Difference between home value and list price: $99,396

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Atmosphere1 / Shutterstock.com

Seattle, Washington

  • 2021 home value: $734,297

  • 2021 median listing price: $634,584

  • Difference between home value and list price: $98,713

benedek / Getty Images/iStockphoto
benedek / Getty Images/iStockphoto

Tucson, Arizona

  • 2021 home value: $367,204

  • 2021 median listing price: $269,624

  • Difference between home value and list price: $97,580

SeanPavonePhoto / Getty Images/iStockphoto
SeanPavonePhoto / Getty Images/iStockphoto

Greensboro, North Carolina

  • 2021 home value: $281,332

  • 2021 median listing price: $185,137

  • Difference between home value and list price: $96,195

Read: The Middle Class in America Is Thriving in These 20 Cities

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

Grand Rapids, Michigan

  • 2021 home value: $347,092

  • 2021 median listing price: $252,271

  • Difference between home value and list price: $94,820

More From GOBankingRates

Chris Jennings contributed to the reporting for this article.

Methodology: GOBankingRates analyzed the biggest Metro Statistical Area (MSA) housing markets in the United States according to Zillow’s Housing Data to find the 25 Metros With the Most Overpriced Homes. GOBankingRates found the (1) 2021 Average Home Value for each city and subtracted that from each city’s (2) 2021 Average Median List Price, both sourced from Zillow’s May 2021 Housing Data. This gave each city a value that represented the (3) difference between Median List Price and Home Value. GOBankingRates then ranked the cities in terms of factor 3 with the greatest positive difference being worst. All data was compiled and is up to date as of July 7, 2021.

This article originally appeared on GOBankingRates.com: 25 Metro Areas With the Most Overpriced Homes

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