Florida Atlantic University did a study to find the most overpriced housing markets in America. Using data from Zillow, the study analyzed trends in home prices to rank these markets. The most overpriced homes in America were in Boise, Idaho. The study found homes to be overpriced by over 80%. No other real estate market even comes close. Homes in the 2nd and 3rd place cities (Austin, Texas and Ogden, Utah) were about 50% overpriced.
So what about Florida? For those of you who live in Polk County, it probably won’t come as a big surprise that Lakeland topped the list here in the Sunshine State. Lakeland has made several similar lists over the past year, including The Top 10 Places to Live in Florida (below), the Cities With The Biggest Population Growth In the Country and has one of the Best Florida Companies To Work For.
The study found Lakeland homes to be overpriced by 31.39%. That puts them 20th in the nation. But right behind Lakeland is Tampa at #21. The study says Tampa homes are priced 31.35% too high. Other Florida cities that made the list include Melbourne, Daytona Beach, Fort Myers, Orlando, Jacksonville and Bradenton/Sarasota. As pricy as the real estate market is in Miami, the study found homes in that area to be only about 13% overpriced. [Source: FAU]
10 Best Places To Live in Florida
US News and World Report is out with their list of the best places to live in Florida. Results are based on things like housing affordability, health care, the job market, taxes for retirees, and most importantly, a “happiness index.” That last one is calculated on a Gallup poll on health and well-being.
[Source: US News & World Report]