Here's how much space $1 million buys in 10 major US cities

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Here's how much space $1 million buys in 10 major US cities
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Here's how much space $1 million buys you in 10 major US cities. (via CNBCMakeIt)

Even if you're lucky enough to enter the U.S. housing market with a $1 million budget, there's still some bad news: That money might only buy a one-bedroom apartment, depending on where you want to live.from Using its own data, Zillow analyzed homes in each city valued between $950,000 and $1,050,000.

In some expensive, coastal cities, many homeowners choose a smaller condo or apartment in the heart of downtown, rather than a standalone home farther out. In San Francisco proper, $1 million would typically get you a one-bedroom, one-bathroom condo, or a total of 888 square feet. In the metro area overall, $1 million covers a median of 1,150 square feet.

In Memphis, however, you can expect $1 million to buy a home that's roughly 5,440 square feet. That's nearly five times the amount of space that same budget could afford in San Francisco.San Francisco, California

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