America’s Most Overpriced Cities In 2015

America’s Most Overpriced Cities In 2015

Erin Carlyle   Forbes Staff Business, Investing, Lifestyle 

To find the Most Overpriced cities, we started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MDs), all with populations of 600,000 or more. MSAs and MDs are cities and their surrounding suburbs as defined by the Office of Management and Budget. First we looked at housing affordability, using the latest (Q4 2014) Housing Opportunity Index from the National Association of Home Builders and Wells Fargo. The quarterly index weighs median prices for homes sold against median income levels to determine the percentage of homes that are affordable to residents making the median income.

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