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

More From GOBankingRates

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.