{"id":9703,"date":"2023-05-01T11:16:58","date_gmt":"2023-05-01T15:16:58","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=9703"},"modified":"2023-07-22T13:45:18","modified_gmt":"2023-07-22T17:45:18","slug":"how-much-square-footage-375k-gets-you","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/how-much-square-footage-375k-gets-you\/","title":{"rendered":"How Much Square Footage $375K Gets You in the 100 Largest U.S. Cities"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">For many, the tradeoff between space and cost is a deciding factor on where they choose to settle down. Should you buy a tiny studio in Manhattan or a starter home in Charlotte? The reality is that living in certain places often means downsizing your expectations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But we at RealtyHop wondered just how drastic these tradeoffs were between cities. Are there hidden gems where you wouldn\u2019t have to sacrifice size for desirability? In our second annual report, we calculated the amount of square footage you\u2019d be able to buy in every major city in America at the current national median home sales price of $375K. Our results provide a snapshot of where your dollar goes furthest, and where you may just get everything you\u2019re hoping for in a new home.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Key Findings<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">At the current national median home price of $375K, <\/span><b>San Francisco gets the least space at 374 square feet<\/b><span style=\"font-weight: 400;\">, while<\/span><b> Detroit gets the most at 5109 square feet<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>California is again the most space-constrained state<\/b><span style=\"font-weight: 400;\">, with 11 out of the 20 cities with the most expensive price per square foot.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Despite unaffordable housing prices nationally, there are desirable cities where you can find solid deals. At the national median, <\/span><b>Winston-Salem, NC<\/b><span style=\"font-weight: 400;\"> at 2,647 square feet, <\/span><b>San Antonio, TX<\/b><span style=\"font-weight: 400;\"> at 2,268 square feet, <\/span><b>Houston, TX<\/b><span style=\"font-weight: 400;\"> at 1,932 square feet, and <\/span><b>Richmond, VA<\/b><span style=\"font-weight: 400;\"> at 1,779 square feet were all great options.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hialeah, FL saw the largest spike in price per square foot<\/b><span style=\"font-weight: 400;\"> this past year, up 16.51% to $288.76.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>New York City edged closer to San Francisco<\/b><span style=\"font-weight: 400;\"> in price per square foot, with the city\u2019s median jumping 5.84% over the past year to $917.89.<\/span><\/li>\n<\/ul>\n<figure id=\"attachment_9709\" aria-describedby=\"caption-attachment-9709\" style=\"width: 801px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-9709\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities.png\" alt=\"\" width=\"801\" height=\"536\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities.png 1172w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-300x201.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-1024x686.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-768x514.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-150x100.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-600x402.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-696x466.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-CA-cities-1068x715.png 1068w\" sizes=\"auto, (max-width: 801px) 100vw, 801px\" \/><figcaption id=\"caption-attachment-9709\" class=\"wp-caption-text\">Top cities in California, ranked by the total square footage.<\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400;\">Cities where you get the most space for $375K<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">1. Detroit, MI \u2014 5,109 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Looking for the best bang for your buck in terms of space? <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/detroit-mi\"><span style=\"font-weight: 400;\">Detroit<\/span><\/a><span style=\"font-weight: 400;\"> has the lowest price per square foot among all cities in the country at just $69.30, meaning that $375K would get you a giant 5,109-square-foot house. For perspective, this is <strong>13.6 times larger<\/strong> than the most expensive city, San Francisco.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. Birmingham, AL \u2014 4,962 square feet<\/span><\/h3>\n<p><a href=\"https:\/\/www.realtyhop.com\/for-sale\/birmingham-al\"><span style=\"font-weight: 400;\">Birmingham<\/span><\/a><span style=\"font-weight: 400;\"> came in a close second, with an affordable price per square foot of $84.97. At this rate, a family purchasing a home at the median national home price could get 4,962 square feet of living space.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. Cleveland, OH \u2014 4,186 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Those looking to move to <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/cleveland-oh\"><span style=\"font-weight: 400;\">Cleveland<\/span><\/a><span style=\"font-weight: 400;\"> will be happy to know that they can get 4,186 square feet of living space for the national median price of $375K. The city\u2019s price per square foot of $79.68 was also 11% lower year-over-year,\u00a0 making the market even more affordable.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Lubbock, TX \u2014 3,824 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">At $108.93 per square foot, <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/lubbock-tx\"><span style=\"font-weight: 400;\">Lubbock<\/span><\/a><span style=\"font-weight: 400;\"> came in as the fourth city where you can get the most space. For $375K, a family can get over 3,800 square feet of living space in their new home.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">5. Wichita, KS \u2014 3,723 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">At the national average, a homebuyer in <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/wichita-ks\"><span style=\"font-weight: 400;\">Wichita<\/span><\/a><span style=\"font-weight: 400;\"> can get an enormous 3,723-square-foot home, given the city\u2019s price per square foot of $108.26.<\/span><\/p>\n<figure id=\"attachment_9707\" aria-describedby=\"caption-attachment-9707\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-9707\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375K-top5-vs-san-antonio.png\" alt=\"\" width=\"800\" height=\"540\" \/><figcaption id=\"caption-attachment-9707\" class=\"wp-caption-text\">The total number of square footage you can get in the top 5 most space-constrained cities vs. San Antonio, TX<\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400;\">Cities where you get the least space for $375K<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">1. San Francisco, CA \u2014 374 square feet<\/span><\/h3>\n<p><a href=\"https:\/\/www.realtyhop.com\/for-sale\/san-francisco-ca\"><span style=\"font-weight: 400;\">San Francisco<\/span><\/a><span style=\"font-weight: 400;\"> once again came in as the most space-constrained city in the U.S., with the national median home sales price of $375K would only yield 374 square feet of space. Despite a 4.12% drop, the city remains incredibly expensive at $961.80 per square foot.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. New York, NY \u2014 432 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While many cities have seen prices cool off from the price hikes seen over the past year, <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/new-york-ny\"><span style=\"font-weight: 400;\">New York<\/span><\/a><span style=\"font-weight: 400;\"> continued to climb. The average price per square foot in the city rose 5.84% year over year to $917.89, meaning that the national average would only get you a tiny 432 square foot studio.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. Fremont, CA \u2014 459 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Given its proximity to San Francisco, it\u2019s no wonder <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/fremont-ca\"><span style=\"font-weight: 400;\">Fremont<\/span><\/a><span style=\"font-weight: 400;\"> is the third most space-constrained city for the price. A tiny 459-square-foot studio would be all you could get for the national median, given the city\u2019s $795 price per square foot. Prices were, however, down 2.78% from the year prior.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Boston, MA \u2014 512 square feet<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The price per square foot in <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/boston-ma\"><span style=\"font-weight: 400;\">Boston<\/span><\/a><span style=\"font-weight: 400;\"> dropped a considerable 7.94% over the past year. However, the city remains one of the most expensive in the country. A $375K budget for a home would mean you could only get 512 square feet of living space in the city.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">5. San Jose, CA \u2014 513 square feet<\/span><\/h3>\n<p><a href=\"https:\/\/www.realtyhop.com\/for-sale\/san-jose-ca\"><span style=\"font-weight: 400;\">San Jose<\/span><\/a><span style=\"font-weight: 400;\"> rounds out our most expensive cities, with a price per square foot of just over $760. Given the national median average price, a buyer would only be able to get 513 square feet of space.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Methodology &amp; Limitations<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">Methodology<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To create this report, we analyzed home price data taken from over <\/span><span style=\"font-weight: 400;\">1.5 million for-sale<\/span><span style=\"font-weight: 400;\"> listings on RealtyHop between <\/span><span style=\"font-weight: 400;\">Jan 2023<\/span><span style=\"font-weight: 400;\">\u00a0and <\/span><span style=\"font-weight: 400;\">March 2023<\/span><span style=\"font-weight: 400;\">. Listings included residential single-family homes, condos, co-ops, and townhouses actively on the market, but excluded those that did not list square footage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To calculate the median price per square foot, we divided each listing\u2019s price by its total square footage. These statistics were then aggregated based on the area, with the median taken for each city.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We used the <\/span><a href=\"https:\/\/www.nar.realtor\/newsroom\/existing-home-sales-slid-2-4-in-march\"><span style=\"font-weight: 400;\">National Association of Realtors\u2019<\/span><\/a><span style=\"font-weight: 400;\"> latest March 2023 median existing-home sales price of $375K to calculate the square footage one could purchase at that price.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Limitations<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While we\u2019ve used the citywide median price per square foot in our calculations, one limitation of our study is that this statistic is usually not uniform across a city. Our findings are meant to paint a picture of the differences across cities (and broadly within a city), and not meant to dictate the exact properties you could buy at any given price and size.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Have questions or comments about this report? Reach us at press@realtyhop.com.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Full City List<\/span><\/h2>\n<p>&nbsp;<\/p>\n<div style=\"max-width: 1068px; width: 100%; height: auto;\"><iframe loading=\"lazy\" style=\"sroll: hidden;\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/05\/price-sqft-375k-full-city-list.html\" width=\"100%\" height=\"760\" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/div>\n","protected":false},"excerpt":{"rendered":"<p>For many, the tradeoff between space and cost is a deciding factor on where they choose to settle down. Should you buy a tiny studio in Manhattan or a starter home in Charlotte? The reality is that living in certain places often means downsizing your expectations. But we at RealtyHop wondered just how drastic these [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":9706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[2239,3],"tags":[],"class_list":["post-9703","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-market-trends-and-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Much Square Footage $375K Gets You in the 100 Largest U.S. Cities - RealtyHop Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/blog\/how-much-square-footage-375k-gets-you\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much Square Footage $375K Gets You in the 100 Largest U.S. Cities - RealtyHop Blog\" \/>\n<meta property=\"og:description\" content=\"For many, the tradeoff between space and cost is a deciding factor on where they choose to settle down. Should you buy a tiny studio in Manhattan or a starter home in Charlotte? The reality is that living in certain places often means downsizing your expectations. But we at RealtyHop wondered just how drastic these [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtyhop.com\/blog\/how-much-square-footage-375k-gets-you\/\" \/>\n<meta property=\"og:site_name\" content=\"RealtyHop Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-01T15:16:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-22T17:45:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/04\/375k-featured-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1172\" \/>\n\t<meta property=\"og:image:height\" content=\"793\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shane Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shane Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.realtyhop.com\/blog\/how-much-square-footage-375k-gets-you\/\",\"url\":\"https:\/\/www.realtyhop.com\/blog\/how-much-square-footage-375k-gets-you\/\",\"name\":\"How Much Square Footage $375K Gets You in the 100 Largest U.S. Cities - 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