When homeowners bet on further price appreciation they pay a premium -- either for a blue-chip, recession-proof part of town or one that is teetering on the verge of price correction. Using data from Hotpads.com, an Internet aggregator of rental listings and homes for sale from multiple listing services, private brokerages and real estate investment trusts, we looked at which ZIP codes had the biggest spreads between how much a property cost and how much it could rent for. Those with the biggest spreads are where buyers are paying the highest premiums.
See All of the Most Overpriced ZIP Codes
$4,995,000
Bed: 4 Bath: 5.75