Investor dashboards · September 2026 data

Undervalued and overvalued housing markets

Each of 373 covered metros scored on two percentiles — deviation from its own 2000–2019 house-price trend, and median list price versus local household income — then averaged. The extremes on both ends, with the exact formula below the lists.

AFBy Andre Fontaine
Mortgage Market Analyst
NWReviewed by Naomi Whitfield
Real Estate Data Analyst
Published May 20, 2026 · Updated October 5, 2026Editorial persona: WealthyBud bylines are editorial personas, not real individuals. Pages are produced by the WealthyBud research team from the public data cited on each page.
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What does the Under / overvalued dashboard show?

Each of 373 covered metros scored on two percentiles — deviation from its own 2000–2019 house-price trend, and median list price versus local household income — then averaged. The extremes on both ends, with the exact formula below the lists.

Most undervalued — priced below their own history and incomes
1

Enid, OK

$213,725 median list · +8.7% YoY · composite value blend 96/100
+9%
vs own 2000–19 trend
3.2×
Price-to-income
95
Value subscore
2

Lake Charles, LA

$241,495 median list · +0.6% YoY · composite value blend 96/100
-5%
vs own 2000–19 trend
3.6×
Price-to-income
92
Value subscore
3

Altoona, PA

$175,000 median list · +0.2% YoY · composite value blend 96/100
+19%
vs own 2000–19 trend
2.9×
Price-to-income
94
Value subscore
4

Houma, LA

$235,000 median list · +4.4% YoY · composite value blend 95/100
-6%
vs own 2000–19 trend
3.7×
Price-to-income
92
Value subscore
5

Wheeling, WV

$179,450 median list · +1.4% YoY · composite value blend 93/100
+25%
vs own 2000–19 trend
3.1×
Price-to-income
92
Value subscore
6

Elmira, NY

$179,450 median list · +2.6% YoY · composite value blend 91/100
+31%
vs own 2000–19 trend
2.8×
Price-to-income
90
Value subscore
7

Minot, ND

$322,450 median list · +6.6% YoY · composite value blend 91/100
-22%
vs own 2000–19 trend
4.1×
Price-to-income
88
Value subscore
8

Beaumont, TX

$235,041 median list · 0.0% YoY · composite value blend 91/100
+26%
vs own 2000–19 trend
3.6×
Price-to-income
87
Value subscore
9

Alexandria, LA

$225,000 median list · -5.5% YoY · composite value blend 90/100
+9%
vs own 2000–19 trend
4.0×
Price-to-income
87
Value subscore
10

Baltimore, MD

$375,000 median list · -2.6% YoY · composite value blend 90/100
+18%
vs own 2000–19 trend
3.9×
Price-to-income
87
Value subscore
11

Charleston, WV

$189,325 median list · +20.6% YoY · composite value blend 90/100
+31%
vs own 2000–19 trend
3.3×
Price-to-income
88
Value subscore
12

Springfield, IL

$212,200 median list · +4.0% YoY · composite value blend 89/100
+33%
vs own 2000–19 trend
2.9×
Price-to-income
88
Value subscore
13

Lubbock, TX

$239,450 median list · -3.8% YoY · composite value blend 89/100
+22%
vs own 2000–19 trend
3.8×
Price-to-income
86
Value subscore
14

Watertown, NY

$269,900 median list · +3.8% YoY · composite value blend 89/100
+2%
vs own 2000–19 trend
4.2×
Price-to-income
86
Value subscore
15

Beckley, WV

$192,425 median list · +6.3% YoY · composite value blend 89/100
+28%
vs own 2000–19 trend
3.7×
Price-to-income
85
Value subscore
16

Davenport, IA

$239,900 median list · +6.0% YoY · composite value blend 89/100
+32%
vs own 2000–19 trend
3.3×
Price-to-income
86
Value subscore
17

Fairbanks, AK

$328,600 median list · -1.9% YoY · composite value blend 89/100
+23%
vs own 2000–19 trend
3.9×
Price-to-income
85
Value subscore
18

Huntington, WV

$212,450 median list · -5.6% YoY · composite value blend 89/100
+30%
vs own 2000–19 trend
3.6×
Price-to-income
85
Value subscore
19

Johnstown, PA

$119,975 median list · +6.0% YoY · composite value blend 88/100
+36%
vs own 2000–19 trend
2.1×
Price-to-income
88
Value subscore
20

Odessa, TX

$305,000 median list · +1.5% YoY · composite value blend 88/100
-14%
vs own 2000–19 trend
4.3×
Price-to-income
85
Value subscore
Most overvalued — stretched furthest above trend and incomes
1

Traverse City, MI

$541,250 median list · -4.2% YoY · composite value blend 8/100
+94%
vs own 2000–19 trend
7.0×
Price-to-income
9
Value subscore
2

Morristown, TN

$479,500 median list · +4.6% YoY · composite value blend 8/100
+85%
vs own 2000–19 trend
8.2×
Price-to-income
9
Value subscore
3

Athens, GA

$436,975 median list · -2.7% YoY · composite value blend 8/100
+94%
vs own 2000–19 trend
7.0×
Price-to-income
10
Value subscore
4

Merced, CA

$448,225 median list · -0.6% YoY · composite value blend 9/100
+91%
vs own 2000–19 trend
6.9×
Price-to-income
11
Value subscore
5

Gainesville, GA

$489,900 median list · +2.2% YoY · composite value blend 10/100
+104%
vs own 2000–19 trend
6.3×
Price-to-income
11
Value subscore
6

Naples, FL

$676,694 median list · -1.9% YoY · composite value blend 11/100
+79%
vs own 2000–19 trend
7.8×
Price-to-income
12
Value subscore
7

Las Vegas, NV

$464,900 median list · -2.1% YoY · composite value blend 11/100
+101%
vs own 2000–19 trend
6.3×
Price-to-income
12
Value subscore
8

Boise, ID

$609,925 median list · +1.8% YoY · composite value blend 11/100
+82%
vs own 2000–19 trend
7.4×
Price-to-income
13
Value subscore
9

Reno, NV

$645,450 median list · +0.5% YoY · composite value blend 13/100
+76%
vs own 2000–19 trend
7.6×
Price-to-income
14
Value subscore
10

Salinas, CA

$1.29M median list · +0.7% YoY · composite value blend 13/100
+70%
vs own 2000–19 trend
13.7×
Price-to-income
14
Value subscore
11

Carson City, NV

$567,682 median list · +3.2% YoY · composite value blend 14/100
+75%
vs own 2000–19 trend
7.9×
Price-to-income
15
Value subscore
12

El Centro, CA

$386,000 median list · +0.1% YoY · composite value blend 14/100
+78%
vs own 2000–19 trend
6.8×
Price-to-income
16
Value subscore
13

Port St. Lucie, FL

$429,000 median list · -0.8% YoY · composite value blend 15/100
+93%
vs own 2000–19 trend
5.9×
Price-to-income
17
Value subscore
14

Hilton Head, SC

$497,000 median list · -10.8% YoY · composite value blend 16/100
+85%
vs own 2000–19 trend
6.1×
Price-to-income
17
Value subscore
15

Twin Falls, ID

$465,750 median list · +6.1% YoY · composite value blend 16/100
+74%
vs own 2000–19 trend
7.0×
Price-to-income
18
Value subscore
16

Sebastian, FL

$421,950 median list · -0.7% YoY · composite value blend 17/100
+90%
vs own 2000–19 trend
5.9×
Price-to-income
18
Value subscore
17

Coeur d'Alene, ID

$759,000 median list · -2.7% YoY · composite value blend 17/100
+67%
vs own 2000–19 trend
9.8×
Price-to-income
17
Value subscore
18

St. George, UT

$615,000 median list · -1.2% YoY · composite value blend 17/100
+69%
vs own 2000–19 trend
8.1×
Price-to-income
18
Value subscore
19

Knoxville, TN

$447,000 median list · -0.7% YoY · composite value blend 18/100
+76%
vs own 2000–19 trend
6.4×
Price-to-income
19
Value subscore
20

Atlantic City, NJ

$544,450 median list · +0.4% YoY · composite value blend 18/100
+73%
vs own 2000–19 trend
6.8×
Price-to-income
20
Value subscore

The formula, exactly

For each of the 373 metros with both a long-run house price index and a published median household income, we compute two percentile ranks and average them:

1. Trend deviation — how far the metro's latest long-run house price index sits above or below its own 2000–2019 log-linear trend. A metro 15% below its long-run trend ranks near the top; one 100% above ranks near the bottom. This self-referencing design means cheap and expensive metros are judged against their own history, not each other's price levels.

2. Price-to-income — median listing price (September 2026) ÷ the 2023 median household income. Lower multiples rank higher.

Blend = the mean of the two percentiles (0–100). It is closely related to — but simpler than — the Value subscore shown on each metro page, which our composite Investor Score weights at 20%. "Undervalued" here means statistically cheap versus its own history and local incomes; energy-belt metros (the Dakotas, West Texas) top the list precisely because their booms ended — cheapness can be earned. Cross-check momentum before reading it as a buy signal.

Under / overvalued FAQ

What does WealthyBud's Under / overvalued page show?
Each of 373 covered metros scored on two percentiles — deviation from its own 2000–2019 house-price trend, and median list price versus local household income — then averaged. The extremes on both ends, with the exact formula below the lists.
How often is the Under / overvalued data updated?
Monthly. Listing data is refreshed as Realtor.com publishes it and government series (HUD, FHFA, Census, BLS, IRS) as each agency releases them; the current data month is September 2026.
Is this investment advice?
No. Rankings and scores are data-derived research screens computed from public sources, with formulas on the methodology page. Verify any market and deal independently before investing.
Based on public records and industry data, as of September 2026; refreshed as sources update. Full formulas and source limits: full methodology. Rankings and scores are data-derived opinions for research, not investment advice — verify current conditions with a local agent, lender or MLS before acting.