If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Do you think that your home is overpriced in todays market even after the painful correction? If you live in one of these zip codes you may be right. Of course, some of these communities are still very highly desirable, but at the end of the day, do you want Tribeca or Central Park West? Chinatown or Beacon Hill?

Forbes and the ever inquisitive Matt Woolsey have come up with a list of the most overpriced zip codes in the United States. The methodology was fairly simple and one that was trumpeted just before the housing crash.

How much more expensive is it to own your home than rent?

These communities tend to have homes that are 25 times or more expensive to own then rent!  And this is not even taking into consideration taxes and maintenance. Now the pleasure and comfort of owning ones own home is never to be denied, but to pay 25 to 30 times the amount for the privilege? You have to be a little bit nuts!

But to each his own. There are benefits to living in these communities, I just have to wonder if the benefit of ownership at such high prices is one of them.

Top 10 Overpriced Zip Codes in America

1. 10037  New York, TriBeCa  (36.3 P/R)
2. 02111  Boston, Chinatown  (30.5 P/R)
3. 98104  Seattle, Downtown   (30.3 P/R)
4. 90038  Los Angeles, West Hollywood  (30.2 P/R)
5. 92103  San Diego, Calif. Mission Hills  (30 P/R)
6. 94122  San Francisco, Outer Sunset  (28.5 P/R)
7. 85006  Phoenix, Coronado  (27.1 P/R)
8. 85006  Dallas, Greenway Parks  (26.7 P/R)
9. 97213  Portland, Rose City Park (26.6 P/R)
10. 95125  San Jose, Willow Glen  (26.1 P/R)

Related posts:

1. Top 10 Most Expensive Housing Zip Codes In United States
2. Top 10 Most Improved Selling Zip Codes
3. Top 10 Highest Rental Markets in 2nd Quarter, 2008
4. Bank of America Offering Cities First Crack at Foreclosures
5. Top 10 Most Dangerous Cities in America For 2008