City-by-city price guide: Cape Coral/Fort Myers

This area boasts sandy beaches and the laid-back lifestyle that has attracted snowbirds and even luminaries like Thomas Edison and Henry Ford, who made the area their vacation spot. But it's also been hit hard by the housing crisis. Home values have plunged and foreclosures have jumped a whopping 442 percent since 2006. It is on Local Market Monitor's list of overpriced markets, with a 34 percent difference between actual prices and equilibrium; it's counterpart to the south, Naples, comes in at No. 1.