• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Real EstateHousing

These are the most overvalued housing markets in the U.S.

By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
August 26, 2021, 8:30 PM ET

They say everything’s bigger in Texas, but when it comes to overvalued homes, the Lone Star State doesn’t hold a candle to Idaho.

A new survey from Florida Atlantic University and Florida International University looks at the nation’s most overvalued homes, with Boise, Idaho, topping the list. Homes in the Gem State sell for a stunning 80.64% premium, based on a history of past pricing.

The work-from-home trend is largely responsible for that. As people moved out of big markets during the pandemic, they looked for less dense areas that still offered attractive amenities. In addition to Idaho, Utah has been an especially popular destination for buyers, the study found.

Of the 100 cities looked at in the study, 95 showed some level of overvalue. The rapid price appreciation should serve as a warning to buyers, say the study’s authors. If you plan to move soon, you could find yourself later selling property at a loss.

“In the Top 10 markets, potential buyers might want to consider renting and reinvesting money that they otherwise would have put into homeownership,” said Ken Johnson, a real estate economist and associate dean in FAU’s College of Business. “Renting and reinvesting has been shown to often outperform ownership in terms of wealth creation.”

Here’s a look at the 10 most overvalued markets and the premium buyers are currently paying:

  1. Boise, Idaho – 80.64%
  2. Austin, Texas – 50.72%
  3. Ogden, Utah – 49.70%
  4. Provo, Utah – 46.16%
  5. Detroit, Mich. – 45.57%
  6. Spokane, Wash. – 45.21%
  7. Salt Lake City, Utah – 42.41%
  8. Phoenix, Ariz. – 42.31%
  9. Las Vegas, Nev. – 41.88%
  10. Stockton, Calif. – 38.50%

There are still some bargains out there. In Virginia Beach, homes are selling for a 2.46% discount. And you can get a home in Honolulu at a rate nearly 5% below where it should be valued.

More finance coverage from Fortune:

  • Investors are borrowing less to buy stocks—and that could be a bad sign
  • 6 things to know about the housing market’s big shift
  • Visa just bought a CryptoPunk NFT for $150,000
  • Is “Big Day Care” the solution to America’s childcare woes—or is it risky to mix profits and toddlers?
  • Gabrielle Union’s experience as a mother motivated her to invest in Yumi

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

See full bioRight Arrow Button Icon

Latest in Real Estate

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Real Estate

Current refi mortgage rates report for May 14, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for May 14, 2026
By Glen Luke FlanaganMay 14, 2026
9 hours ago
Current ARM mortgage rates report for May 14, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for May 14, 2026
By Glen Luke FlanaganMay 14, 2026
9 hours ago
Mortgage rates today, May 14, 2026
Personal Financemortgages
Mortgage rates today, May 14, 2026
By Glen Luke FlanaganMay 14, 2026
9 hours ago
Jenn Hyman steps down as CEO of Rent the Runway: ‘I’ve left it all on the field’
Arts & EntertainmentMost Powerful Women
Jenn Hyman steps down as CEO of Rent the Runway: ‘I’ve left it all on the field’
By Emma HinchliffeMay 13, 2026
1 day ago
Current refi mortgage rates report for May 13, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for May 13, 2026
By Glen Luke FlanaganMay 13, 2026
1 day ago
Current ARM mortgage rates report for May 13, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for May 13, 2026
By Glen Luke FlanaganMay 13, 2026
1 day ago

Most Popular

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
1 day ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
2 days ago
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Travel & Leisure
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
By Catherina GioinoMay 12, 2026
2 days ago
It’s not just Canadian tourists snubbing U.S. cities. Business leaders are cancelling more trips to America as geopolitical tensions continue
North America
It’s not just Canadian tourists snubbing U.S. cities. Business leaders are cancelling more trips to America as geopolitical tensions continue
By Sasha RogelbergMay 12, 2026
2 days ago
I spent 8 years building Google Sheets. Now I think apps are on their way out
Commentary
I spent 8 years building Google Sheets. Now I think apps are on their way out
By Zach LloydMay 13, 2026
1 day ago
Current price of oil as of May 13, 2026
Personal Finance
Current price of oil as of May 13, 2026
By Joseph HostetlerMay 13, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.