A recent real estate study placed Austin at the top of an overvalued list and shows efforts local groups are taking to provide affordable housing.

A study conducted in tandem by Florida Atlantic University and Florida International University has concluded that Austin home prices are the second most overpriced in the country, KVUE News reported. According to the researchers, homes in Austin are selling for about 50% more than they should be. The study recommended renting or investing for the time being instead of purchasing a home.

“In the top 10 markets, potential buyers might want to consider renting and reinvesting money that they otherwise would have put into homeownership,” Johnson, a real estate economist and associate dean at Florida Atlantic’s College of Business, said in a statement. “Renting and reinvesting has been shown to often outperform ownership in terms of wealth creation.”

Austin was the only city in Texas to make the study’s Top 10 list of overvalued homes. This does not mean, however, that homes in other cities are not overpriced. Culturemap Austin reported that Dallas-Fort Worth came in at number 19 with a real estate market that is 31.57% overvalued, San Antonio was ranked 48th, with homes selling for 20.99% over value and Houston was 57th with homes selling 17.99% over what they should.

High demand is likely leading to the skyrocketing cost of housing. A 2021 Wallethub study ranked Austin the second most attractive housing market in the U.S. according to 18 key metrics, including job growth and appreciation of median home prices.

According to the most recent census data, the population in the city of Austin grew by 21% over the last decade. While the city continues to show robust job and economic growth, the housing market is failing to keep up with demand.

“With a steady influx of job creation in the pipeline, the housing market will continue to post strong numbers well into 2021,” Mark Sprague of Independence Title said, according to KVUE News. “But, because Austin’s housing market is not slowing down, we will continue to see demand outpace the inventory available. This growth is not sustainable. The one variable that will hold the market back is the lack of inventory.”

In response to the increasing cost of living in Austin, private organizations like nonprofit Austin Housing Conservancy Fund are seeking to preserve affordable housing in the region. KVUE News reported. In the next decade, the fund hopes to preserve housing for 15,000 residents. The funds managing group, Affordable Central Texas, already owns properties that can house 1,200 people and will use a recent $150,000 award to purchase more.

The only city to outrank Austin on the list of overvalue housing was Boise, Idaho with homes selling for approximately 80% over what they should be.