GOBankingRates

50 Cities With the Most Underpriced Homes

Jon Bilous / Shutterstock.com

Jon Bilous / Shutterstock.com

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

Building Wealth
DenisTangneyJr / Getty Images/iStockphoto

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
Pikachu Ink / Shutterstock.com

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
benedek / Getty Images/iStockphoto

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
©Shutterstock.com

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
drnadig / Getty Images/iStockphoto

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
thanaprom / Shutterstock.com

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

Take a Look: Cities in Every State Where Your Paycheck Stretches the Furthest

Tomasz Wozniak / Shutterstock.com

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
Sandra Foyt / Shutterstock.com

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

Building Wealth
©Shutterstock.com

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
©Shutterstock.com

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
Sean Pavone / Getty Images

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
Sundry Photography / Shutterstock.com

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
Jim.henderson / Wikimedia Commons

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
Yanjipy / Wikimedia Commons

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
Kit Leong / Shutterstock.com

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

Building Wealth
Alex Potemkin / Getty Images/iStockphoto

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
Henryk Sadura / Shutterstock.com

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
©Shutterstock.com

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
Marie Appert / Shutterstock.com

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
Ben Babusis, www.BenBabusis.com / Shutterstock.com

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
DenisTangneyJr / Getty Images/iStockphoto

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
Daniel Kloe / Shutterstock.com

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
Davel5957 / Getty Images

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

Building Wealth
©Shutterstock.com

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

Read: The Middle Class in America Is Thriving in These 20 Cities

Bill Chizek / Getty Images/iStockphoto

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
Meandering Trail Media / Shutterstock.com

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
BondRocketImages / Shutterstock.com

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
joebelanger / Getty Images/iStockphoto

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
Mariusz S. Jurgielewicz / Shutterstock.com

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
©Shutterstock.com

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
Radoslaw Lecyk / Shutterstock.com

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

Building Wealth
Don White / Getty Images

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
Felix Mizioznikov / Shutterstock.com

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
Derek_Neumann / Getty Images/iStockphoto

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
Yaroslav Sabitov / Shutterstock.com

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
f11photo / Getty Images/iStockphoto

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
p2n Media / Shutterstock.com

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
Hank Shiffman / Shutterstock.com

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
Sundry Photography / Shutterstock.com

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

Building Wealth
©Shutterstock.com

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
SvetlanaSF / Shutterstock.com

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
lucentius / Getty Images/iStockphoto

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
Todd A. Merport / Shutterstock.com

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

Right Now: A Coronavirus Downturn Will Hurt These 50 Housing Markets the Most

Andrei Stanescu / iStock.com

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
©Shutterstock.com

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
Andrei Stanescu / Getty Images

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
Sean Pavone / Shutterstock.com

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
ESB Professional / Shutterstock.com

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
Kamira / Shutterstock.com

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.