10 of the Most Over Priced Housing Markets in the U.S.

Unless you’re a bazillionaire, you know that the housing market in America is bubbling like chewing gum. Actually, if you’re a bazillionaire, you’re probably aware as well, only you’re pleased with that prospect. However, for those of us average Joes, finding a city to settle in that isn’t insanely overpriced is extremely difficult. With that in mind, we present to you the top ten most overpriced markets in America:

  1. Denver – Prices here have risen by ⅓ in just seven years (since the housing crash in 2008). The mile-high city looks like it might be peaking, according to James Paine, realtor. Yikes.
  2. Boston – At a 27% increase, this revolutionary city isn’t that far behind Denver, although incomes in the city can’t match pace, making buying extremely difficult for Bostonians.
  3. Washington, D.C. – Washington elites are known for their ability to broker powerful deals, but these days it seems like you have to be a former head of state to purchase a home in the D.C. area.

    Source: Abbot Klarr Real Estate
  4. Pittsburgh – This Pennsylvania city wasn’t hit as hard by the housing market crash, and as a result, prices have been climbing steadily for years, with an almost 25% increase since 2008 alone.
  5. San Francisco – It’s no surprise that notoriously expensive San Fran made this list – after all, they were the first city to take the step of raising the minimum wage themselves – but Paine says they have, “the highest median home price in the entire country and the lowest affordability.”
  6. Honolulu – Who doesn’t want to live in Hawaii? Well, for a relative 18% jump in seven years, we’re going to opt out.

    Source: Hawaii Beach Front Homes
  7. San Jose – So many jobs are opening up here that it’s only natural the market is climbing. However, this is one city Paine thinks might be slowing down, market-wise at least.
  8. Louisville – It’s not a huge bump – only about 8% – but a strong small business market and labor force, buyers are feeling the increase acutely.

    Source: Highlands Louisville
  9. Colorado Springs – back in Colorado, the increases in this lovely town just South of Denver may not stay up; Paine suspects that if the military pulls out of the region, they’ll take a lot of it’s economic growth with them.
  10. San Diego – This sunny Southern California city has long been an alternative for those who can’t handle the downsides of Los Angeles, but Paine suggests that you could probably find better housing deals in the City of Angels!