Dive Brief:

• Four of the country’s most-expensive housing markets are in California, according to the real estate website Trulia.

• The fifth—and most overpriced, according to the analysis of 100 cities—is Austin, Texas, which Trulia said is overpriced by 19%. The average price of a home in Austin is $300,000, according to the city’s Board of Realtors.

• The others are: Orange County, CA, and Los Angeles, both overpriced by 15%, according to the research, followed by the San Francisco Bay area, at 12%, and Riverside/San Bernardino, CA, by 11%.

Dive Insight:

All of the areas deemed to be overpriced by the analysts are urban. Trulia considered the job market, the cost of rent, income growth and the rate of household formation as it made its choices.