How far you can stretch the U.S. median home sale price of $375,000 depends on what part of the country you’re looking to live in, according to a new report.
That six-figure sum can get you a 374-square-foot home in San Francisco, a 432-square-foot residence in New York City and a 512- square-foot space in Boston, according to a report published Monday by real estate firmThe median home price could also net you a 677-square-foot space in Washington, D.C. — which isn’t much better than the 784 square feet you could get in neighboring Arlington, Virginia, for the same cost.
The reports’ authors looked at the square footage for more than 1.5 million listings for sale — from single-family homes and condos to co-ops and townhomes — on its site between January and March to analyze what kind of homes that price point can net buyers. Eleven out of the 20 cities with the most expensive price per square foot are in the Golden State, including standouts such as Irvine, Los Angeles, San Diego and Oakland.A $375,000 home in Miami would only cover a cozy 625 square feet. That same amount of cash in Jersey City, situated right across the Hudson River from Manhattan, could get you a 675-square-foot residence.
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