Price per square foot for homes has quadrupled since 1980

By: AZ Big Media 

The price per square foot of a U.S. home is higher than ever, according to a new report from Home Bay, an online publication that connects readers with expert real estate advice.

A new single-family home has a median square footage of 2,356 and a price of $397,100, making the median price per square foot $169. In 1980, the median price per SF was only $41 – an astronomical 310% less than today’s prices.

The study ranked the 50 most-populous U.S. metros by cost per square foot and found that the cities with the highest price per SF are:

1. San Jose ($801)

2. San Francisco ($656)

3. Los Angeles ($520)

4. San Diego ($494)

5. New York ($458)

The cities with the lowest price per SF are:

1. Memphis ($92)

2. Cleveland ($103)

3. Pittsburgh ($134)

4. Indianapolis (134)

5. Buffalo ($139)


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