Do you feel like you are overpaying for your house? Curious if you reside in a town with sky-high housing costs? Dive into our list of the top 10 housing markets that exceed their historical values by over 40%, as per the College of Business at Florida Atlantic University.
10. Winston, North Carolina: +40.96%
Number 10 on the list is Winston, North Carolina. Winston-Salem is a great place to live. It’s a mid-sized city in North Carolina with a small-town feel and a college atmosphere. You can enjoy lots of cool features without the hassle of living in a big city. But is the cost worth it?
9. Palm Bay, Florida: +41.00%
Number 9 is Palm Bay, FL. There is a great demand to live in Florida, the beauty of the state combined with mostly great weather is definitely a draw. “Florida is so overvalued almost certainly because of the increased demand to live here combined with a shortage of available housing units,” said Ken H. Johnson, an economist at FAU.
8. Charlotte, North Carolina: +42.19%
Charlotte is a great city to live in! People living here are very passionate about making it an even better place to live. Everywhere you go, you’ll feel the sense of community and friendly greetings from people you don’t even know. It’s a big city, but it still has that small-town charm.
Charlottes housing might be over priced, but according to PODS blog the cost of living is 2% below the national average. Would this entice you to try out this city?
7. Lakeland, Florida: +42.36%
Lakeland is a fantastic city to live in. It’s close to larger cities like Tampa and Orlando, so there’s always something to do. Lakeland is known for its wildlife, lots of waterways, and its nickname – ‘Swan City’. Ken H. Johnson, an economist at FAU also said. “There are just not enough roofs to go around, given our population and Florida’s stature as a prime destination.”
6. Memphis, Tennessee: +43.35%
One of the benefits of living in Tennessee is no state income tax, but would another community in Tennessee be preferable to avoid the overpriced housing? Or is this thriving city full of energy the place to be?
5. Cape Coral, Florida: +43.35%
Nicknamed “Waterfront Wonderland,” Cape Coral is considered one of the best places to live in Florida for its low crime rate. Cape Coral is a vibrant and friendly community in Lee County. It’s famous for its 400 miles of canals, beautiful beaches, excellent golf courses and lots of activities for families and retirees.
4. North Port, Florida: +43.49%
A survey from 2019 found that the majority -80% of North Port residents think the quality of living is good or excellent. People especially liked the safety, transportation, buildings, parks, health and education options, job opportunities, and community programs.
3. Tampa, Florida: +43.98%
Residents of the Tampa Bay region have the best of both worlds. On one hand, they can relax and take it easy on the beach. On the other, they can enjoy the amenities of a big city including professional sports teams, museums and lots of fun activities and places to eat.
2. Detroit, Michigan: +45.80%
Living in Detroit might cost less than in most other US cities. Niche’s list of cities with the lowest cost of living for 2022 included Detroit. But remember that even though Detroit’s cost of living is lower than the national average, it has a high poverty rate. Also, the cost of living and housing in Detroit is getting more expensive each year, even though it’s still below the national average.
1. Atlanta, Georgia: +48.57%
Atlanta is a big city that feels like a small town. You’ll get to know lots of people no matter where you go. It’s easy to make new friends and connect with people for work. People here are very friendly! Everywhere you go, they’ll say hello, and parties and bars in the city are lively and welcoming. But the question is would you live here knowing the increased cost to buy a home?
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Cassity Kmetzsch started Remodelaholic after graduating from Utah State University with a degree in Interior Design. Remodelaholic is the place to share her love for knocking out walls, and building everything back up again to not only add function but beauty to her home. Together with her husband Justin, they have remodeled 6 homes and are working on a seventh. She is a mother of four amazing girls. Making a house a home is her favorite hobby.
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