If you have roughly $200,000 to purchase a new home in Atlanta, you can expect about 1,119 square feet. That’s great if you’ve moved from Manhattan, where the same amount will only give you 126. But if you’re coming from Cleveland, where $200,000 will grant you about 3,769 square feet. You could either save your money or you could build an indoor pool!
The data comes from a recent PropertyShark report that reveals in which cities it is the most costly to want a little extra space. PropertyShark collected the data from its own resources in order to determine the median square footage of the homes in each of the 33 cities (with Brooklyn and Manhattan listed separately). The home listing website also collected U. S. Census Bureau data to determine the median home prices in each of the cities. After procuring these resources, PropertyShark divided the home price by square footage to arrive at the price per square foot.
Across the country, median home prices are at an estimated $289,900, according to Realtor.com. Census data tells us that the median home square footage was 2,422 square feet for homes completed in 2016. The result is that each square foot is priced at about $120. However, data in each city reveals that buyers who want to have more room in their homes should stray from the coasts and stick to the South and the Midwest.
New York City isn’t the only place in the U. S. where your home can be half the size of a standard hotel room (which is 325 square feet). For $200,000, you can own 260 square feet in San Francisco, 371 in Boston, 376 in San Jose, 423 in Washington, DC.
However, buyers can own up to 30 times the square feet of these markets in cities like Cleveland, El Paso, San Antonio and Memphis, where $200,000 will grant them 3,769, 3,334, 3,249 and 2,965. Similar markets include Indianapolis, Fort Worth, Jacksonville and Nashville, where $200,000 can buy 2,228, 2,199, 2,162 and 2,109.
Cities in the middle of the road include Tucson, Orlando, Columbus, Dallas, Las Vegas, Charlotte and Oklahoma City. However, square feet tend to be pricier in Philadelphia, Phoenix, Chicago, Austin, Miami, Portland, and, you guessed it, Atlanta. See how many square feet $200,000 will buy in these cities, plus how other cities like Denver, Seattle, Los Angeles, San Diego and Washington, DC stack up by visiting www.Realtor.com or www.PropertyShark.com.