Definition

Not valued or appreciated as highly as it deserves; overlooked or underestimated in quality, importance, or talent.

Example Usage

That band is severely underrated—their new album is brilliant but nobody's heard of them.

Origin

under- (below) + rated (judged in value), emerged as the opposite critique to overrated

Fun Fact

Calling something underrated is a way to signal discerning taste and insider knowledge.

Source: Definition backfill (hailey)