Fort Myers is the third most overvalued housing market in the U.S. and the most overvalued in Florida, according to a July analysis by researchers at Florida Atlantic University and Florida International University. Using open-source data from Zillow or other providers, researchers determined Fort Myers home buyers are paying an average of $430,131, a 62.23% premium over the expected price of $265,142. Only Boise, Idaho, and Las Vegas home buyers are paying more of a premium. Lakeland, Tampa, the North Port-Sarasota-Bradenton area and Melbourne round out the top five most overvalued markets in Florida.