50 Cities With the Most Underpriced Homes

Homeowners eager to sell their current house are often incredibly optimistic when valuing their own property. But given the current housing market, sellers may be forced to accept offers far lower than the current value. Competition in many parts of the country is beginning to slow, which could mean sticker shock -- and not in the way you think.

If your goal as a seller is to get as much value out of your home as possible, listing your house in a buyer's market is not ideal. Buyers seem much more cautious in the current market, CNBC reported, in part due to the fear of an upcoming recession. After all, the housing market collapse is what led to the Great Recession of 2008-2009. Sellers in Miami Beach, Florida, as well as cities across California, may be in for a bit of a surprise, with many homes selling for hundreds of thousands below asking price.

To figure out which cities had the most underpriced homes, GOBankingRates analyzed 750 of the biggest housing markets. Using housing data from Zillow, the 2019 average home value was subtracted from each city's median list price. GOBankingRates then ranked the top 50 cities in terms of the largest difference between the value and list price. Homeowners looking to sell in these buyer's markets may want to reconsider.

Last updated: Nov. 16, 2020

Long Beach, California

• 2019 home value: $645,733
• 2019 median listing price: $603,706
• Difference between home value and list price: $42,028
• Livability: 63
• Crime rate per 1,000 residents: 34.04

Redmond, Washington

• 2019 home value: $903,544
• 2019 median listing price: $861,317
• Difference between home value and list price: $42,228
• Livability: 79
• Crime rate per 1,000 residents: 33.8

Inglewood, California

• 2019 home value: $597,211
• 2019 median listing price: $554,811
• Difference between home value and list price: $42,400
• Livability: 58
• Crime rate per 1,000 residents: 32.28

Chula Vista, California

• 2019 home value: $573,533
• 2019 median listing price: $530,711
• Difference between home value and list price: $42,822
• Livability: 70
• Crime rate per 1,000 residents: 17.75

Delray Beach, Florida

• 2019 home value: $343,189
• 2019 median listing price: $298,150
• Difference between home value and list price: $45,039
• Livability: 70
• Crime rate per 1,000 residents: 44.06

Ashburn, Virginia

• 2019 home value: $598,011
• 2019 median listing price: $552,388
• Difference between home value and list price: $45,623
• Livability: 77
• Crime rate per 1,000 residents: 8.74

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Anchorage, Alaska

• 2019 home value: $372,633
• 2019 median listing price: $322,667
• Difference between home value and list price: $49,967
• Livability: 51
• Crime rate per 1,000 residents: 67.67

Mission Viejo, California

• 2019 home value: $761,833
• 2019 median listing price: $706,789
• Difference between home value and list price: $55,044
• Livability: 78
• Crime rate per 1,000 residents: 11.21

Deerfield Beach, Florida

• 2019 home value: $258,422
• 2019 median listing price: $202,791
• Difference between home value and list price: $55,631
• Livability: 69
• Crime rate per 1,000 residents: 33.62

Carlsbad, California

• 2019 home value: $932,500
• 2019 median listing price: $875,488
• Difference between home value and list price: $57,012
• Livability: 79
• Crime rate per 1,000 residents: 21.69

Plantation, Florida

• 2019 home value: $403,589
• 2019 median listing price: $341,978
• Difference between home value and list price: $61,611
• Livability: 77
• Crime rate per 1,000 residents: 35.63

Seattle

• 2019 home value: $758,100
• 2019 median listing price: $693,950
• Difference between home value and list price: $64,150
• Livability: 67
• Crime rate per 1,000 residents: 60.64

Union City, California

• 2019 home value: $915,589
• 2019 median listing price: $851,180
• Difference between home value and list price: $64,409
• Livability: 67
• Crime rate per 1,000 residents: 27.37

Passaic, New Jersey

• 2019 home value: $352,433
• 2019 median listing price: $281,750
• Difference between home value and list price: $70,683
• Livability: 56
• Crime rate per 1,000 residents: 21.83

Sunrise, Florida

• 2019 home value: $305,100
• 2019 median listing price: $232,311
• Difference between home value and list price: $72,789
• Livability: 79
• Crime rate per 1,000 residents: 32.13

Alhambra, California

• 2019 home value: $727,067
• 2019 median listing price: $653,667
• Difference between home value and list price: $73,400
• Livability: 73
• Crime rate per 1,000 residents: 24.22

New Rochelle, New York

• 2019 home value: $670,233
• 2019 median listing price: $595,557
• Difference between home value and list price: $74,677
• Livability: 64
• Crime rate per 1,000 residents: 17.11

Schaumburg, Illinois

• 2019 home value: $295,778
• 2019 median listing price: $219,569
• Difference between home value and list price: $76,208
• Livability: 80
• Crime rate per 1,000 residents: 17.91

Pembroke Pines, Florida

• 2019 home value: $372,889
• 2019 median listing price: $295,522
• Difference between home value and list price: $77,367
• Livability: 82
• Crime rate per 1,000 residents: 24.01

Tustin, California

• 2019 home value: $784,522
• 2019 median listing price: $700,864
• Difference between home value and list price: $83,658
• Livability: 71
• Crime rate per 1,000 residents: 25.9

Bellevue, Washington

• 2019 home value: $1,055,867
• 2019 median listing price: $968,131
• Difference between home value and list price: $87,736
• Livability: 79
• Crime rate per 1,000 residents: 29.9

Somerville, Massachusetts

• 2019 home value: $887,133
• 2019 median listing price: $799,372
• Difference between home value and list price: $87,761
• Livability: 75
• Crime rate per 1,000 residents: 15.62

Union City, New Jersey

• 2019 home value: $488,856
• 2019 median listing price: $400,419
• Difference between home value and list price: $88,437
• Livability: 62
• Crime rate per 1,000 residents: 21.07

Oakland, California

• 2019 home value: $777,833
• 2019 median listing price: $688,778
• Difference between home value and list price: $89,056
• Livability: 55
• Crime rate per 1,000 residents: 74.38

Daly City, California

• 2019 home value: $986,989
• 2019 median listing price: $895,416
• Difference between home value and list price: $91,573
• Livability: 69
• Crime rate per 1,000 residents: 17.42

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Washington, D.C.

• 2019 home value: $686,056
• 2019 median listing price: $591,064
• Difference between home value and list price: $94,992
• Livability: 57
• Crime rate per 1,000 residents: 52.89

Glendale, California

• 2019 home value: $946,200
• 2019 median listing price: $850,544
• Difference between home value and list price: $95,656
• Livability: 73
• Crime rate per 1,000 residents: 16.92

Alameda, California

• 2019 home value: $1,007,300
• 2019 median listing price: $906,936
• Difference between home value and list price: $100,364
• Livability: 75
• Crime rate per 1,000 residents: 34.44

Redondo Beach, California

• 2019 home value: $1,219,011
• 2019 median listing price: $1,115,605
• Difference between home value and list price: $103,406
• Livability: 80
• Crime rate per 1,000 residents: 25.93

San Ramon, California

• 2019 home value: $1,131,122
• 2019 median listing price: $1,027,105
• Difference between home value and list price: $104,017
• Livability: 83
• Crime rate per 1,000 residents: 15.05

Milpitas, California

• 2019 home value: $1,107,789
• 2019 median listing price: $1,000,372
• Difference between home value and list price: $107,417
• Livability: 75
• Crime rate per 1,000 residents: 27.01

Evanston, Illinois

• 2019 home value: $477,756
• 2019 median listing price: $366,600
• Difference between home value and list price: $111,156
• Livability: 69
• Crime rate per 1,000 residents: 28.12

San Francisco

• 2019 home value: $1,424,467
• 2019 median listing price: $1,297,278
• Difference between home value and list price: $127,189
• Livability: 68
• Crime rate per 1,000 residents: 69.73

Kendall, Florida

• 2019 home value: $481,900
• 2019 median listing price: $353,629
• Difference between home value and list price: $128,271
• Livability: 81
• Crime rate per 1,000 residents: 47.67

San Jose, California

• 2019 home value: $1,107,444
• 2019 median listing price: $968,427
• Difference between home value and list price: $139,017
• Livability: 69
• Crime rate per 1,000 residents: 29.06

Lauderhill, Florida

• 2019 home value: $250,800
• 2019 median listing price: $110,117
• Difference between home value and list price: $140,683
• Livability: 61
• Crime rate per 1,000 residents: 48.06

Arlington, Virginia

• 2019 home value: $859,711
• 2019 median listing price: $717,478
• Difference between home value and list price: $142,234
• Livability: 82
• Crime rate per 1,000 residents: 15.96

Fremont, California

• 2019 home value: $1,153,078
• 2019 median listing price: $1,006,026
• Difference between home value and list price: $147,052
• Livability: 80
• Crime rate per 1,000 residents: 25.07

Redwood City, California

• 2019 home value: $1,674,744
• 2019 median listing price: $1,525,815
• Difference between home value and list price: $148,930
• Livability: 74
• Crime rate per 1,000 residents: 18.8

Santa Clara, California

• 2019 home value: $1,362,911
• 2019 median listing price: $1,210,721
• Difference between home value and list price: $152,190
• Livability: 77
• Crime rate per 1,000 residents: 30.36

San Mateo, California

• 2019 home value: $1,504,878
• 2019 median listing price: $1,347,272
• Difference between home value and list price: $157,606
• Livability: 75
• Crime rate per 1,000 residents: 23.21

Waipahu, Hawaii

• 2019 home value: $708,067
• 2019 median listing price: $546,211
• Difference between home value and list price: $161,856
• Livability: 68
• Crime rate per 1,000 residents: 27.97

Berkeley, California

• 2019 home value: $1,271,611
• 2019 median listing price: $989,505
• Difference between home value and list price: $282,106
• Livability: 66
• Crime rate per 1,000 residents: 63.22

Walnut Creek, California

• 2019 home value: $1,075,533
• 2019 median listing price: $763,611
• Difference between home value and list price: $311,922
• Livability: 78
• Crime rate per 1,000 residents: 35.99

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Sunnyvale, California

• 2019 home value: $1,817,256
• 2019 median listing price: $1,480,111
• Difference between home value and list price: $337,144
• Livability: 81
• Crime rate per 1,000 residents: 18.87

Honolulu

• 2019 home value: $1,036,844
• 2019 median listing price: $637,937
• Difference between home value and list price: $398,908
• Livability: 73
• Crime rate per 1,000 residents: 36.76

Mountain View, California

• 2019 home value: $2,158,478
• 2019 median listing price: $1,670,659
• Difference between home value and list price: $487,819
• Livability: 81
• Crime rate per 1,000 residents: 26.41

Cambridge, Massachusetts

• 2019 home value: $1,590,244
• 2019 median listing price: $864,994
• Difference between home value and list price: $725,250
• Livability: 76
• Crime rate per 1,000 residents: 26.7

Santa Monica, California

• 2019 home value: $2,635,856
• 2019 median listing price: $1,779,999
• Difference between home value and list price: $855,857
• Livability: 73
• Crime rate per 1,000 residents: 55.24

Miami Beach, Florida

• 2019 home value: $1,585,267
• 2019 median listing price: $495,583
• Difference between home value and list price: $1,089,683
• Livability: 66
• Crime rate per 1,000 residents: 92.13

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Methodology: GOBankingRates analyzed the 750 biggest housing markets in the United States according to Zillow’s housing data to find the 50 cities with the most underpriced homes. GOBankingRates found the (1) 2019 average home value for each city and subtracted that from each city’s (2) 2019 average median list price, both sourced from Zillow’s 2019 housing data. This gave each city a value that represented the (3) difference between home value and median list price. GOBankingRates then ranked the cities in terms of factor 3 with the greatest positive difference being best. For the top 50 cities with the highest positive difference, GOBankingRates found a livability score as sourced from AreaVibes and a crime rate (per 1,000 residents) sourced from NeighborhoodScout as supplemental data. All data was compiled and up to date as of Nov. 5, 2019.