Yes, the Big Apple ranks No. 1 among America's most overpriced cities.

Forbes staffer Erin Carlyle and her crack team of researchers scrubbed the top 100 largest metro areas to derive a ranking of America's Most Overpriced cities.

The key focus in the ranking is the spread between median salary levels and median asking prices, with a delta around the amount of for-sale inventory that's affordable (and not) to residents in the area. Carlyle writes this of the methodology:

"We started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MDs), all with populations of 600,000 or more. MSAs and MDs are cities and their surrounding suburbs as defined by the Office of Management and Budget."

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