Bargain shoppers in the market for a new home are searching for value, and a recent study has come up with something even better than fair prices —it's determined where to find undervalued homes in great places to live.
U.S. News used the IHS Global Insight's first-quarter 2009 House Prices in America report (which uses household income, population density, and other data to compare a market's actual value with where it should be on a statistical basis), and used that information with other elements like employment and quality-of-life to determine America's best undervalued places to live. To see which cities made the cut, read more.
- Las Vegas
- Houston
- Naples, FL
- Oklahoma City
- Sarasota, FL
- San Francisco
- Atlanta
- Omaha
- College Station-Bryan, TX
- San Diego
Source: Getty
Lola Cruz
Bruno Magli
Goldsmiths
I visited Las Vegas earlier this year and given the low rents I saw off the Strip, I'm not surprised that housing prices are down a lot there. I don't think I could ever live there though; it's too hot most of the year!
1San Francisco UNDERVALUED?? You cannot be serious.
2I thought the same thing, Glowing Moon.
3I find it hard to believe San Francisco housing is undervalued! Every time I see House Hunters in San Fran, people are looking at 400 sq ft condos with no parking that cost $500,000! C'mon.
4Oh yeah, and College Station (which is about 1.5 hours from Houston) is really only known for one thing A&M University- one of Texas' most popular state schools. It's a great, fun college town, but most of the people who live there either go to college or work for colleges. And it's not like Austin, where a bunch of people are going to stay and work there after graduating. It's still a pretty small town. The houses are probably undervalued because many have been rented to students for years and/or there are not enough buyers.
5Idk about vegas man. our housing costs are down sure, but our city is tanking. youd think this is the one place the recession wont get, everyone wants to get lucky gambling or just party the trouble away; but i was on the strip on a saturday night once and it was pretty dead. if the recession doesnt kill us, the fact that this city will be out of water in less than 10 years will. come, party, keep us afloat, but i wouldnt advise living here.
6Yeah, I find it a VERY hard to believe that San Francisco is on that list... I'm living in Berkeley now, and even THAT is terrible compared to what I'm used to, but still much cheaper than the city!
7I'm sorry, but what the hell is Vegas doing on this list?! Sure the housing is cheap, but our unemployment is at 12.2%, the cost of living is high, it's hot as hell (literaly), the state budget is in shambles...I could go on. I just had to laugh when I saw the city on the top of the list. There's no way I would advise anyone to move here right now. Visit...great! We need the tourism dollars. Move here...no! I'm looking to get out when I can.
8If $400k in San Francisco for a tiny studio is considered undervalued...I'm highly confused by this!!!
9SF is ridiculous. There is absolutely no new land to build in the 49 sq. miles known as San Francisco. And trying to find a parking spot is like trying to win the lottery. If you own, not rent, in SF I bow to you.
10SF and SD? hmmmm....hard to believe
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