America's Best Undervalued Places to Live



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(Courtesy Greater Houston Convention & Visitors Bureau)

While other markets struggled, real home prices in Houston increased nearly 5 percent from the first quarter of 2008 to the first quarter of this year. And even without a sharp decline in real estate values, projected job and population growth should drive home price appreciation and create value going forward. The median home price in Houston was $120,000 in the first quarter, which IHS Global Insight considers 37 percent undervalued.

Next: Sarasota, Fla.

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