Seattle Tops Most Overpriced Cities List
Seattle is the most overpriced city in America in 2004, according to Forbes Magazine. The magazine has released its third annual list of the most overpriced places -- a list of cities with the highest cost of living, least affordable housing and most modest job and income growth.
Last year, Seattle was no. 10 on the list. San Jose, Calif., which took the top spot in 2003, is no. 6 this year.
There are a few places that have made the most overpriced cities list each year -- including San Jose, Calif., and Bergen-Passaic, N.J. -- but there are also a few newcomers to the 2004 list.
Portland, Ore., for example, has a diverse business base, but it also has high unemployment and meager job growth; and while the cost of living isn't as high as places like San Francisco, Portland's median home price is $25,000 above the national median.

Most Overpriced Places 2004

1. Seattle
2. Bergen-Passaic
3. Miami
4. Portland, Ore.
5. Middlesex, N.J.
6. San Jose, Calif.
7. San Francisco
8. Chicago
9. New York
10. Jersey City, N.J.
    Source: Forbes.com