Here’s How Much Real Estate $1 Million Buys You in Every Major U.S. City

This post originally appeared in Business Insider.

How much housing you can buy with a million dollars very much depends on what city you are looking to buy in.

According to Knight Frank data cited by CNBC’s Robert Frank, a million dollars goes a lot further in Cape Town, South African, than it would in Monaco.

But what about in the U.S.?

We looked at housing list price data from real-estate brokerage Movoto.com and real-estate marketplace Zillow.com. The diagram below shows the number of square feet of housing that you can buy for $1 million, based on the median price per square foot in each city:

140317_BI_RealEstateAndy Kiersz/Business Insider, data from Movoto and Zillow

With a median list price of $666 per square foot, San Francisco’s real-estate boom limits a million dollars to buying about 1,500 square feet. On the other end of the spectrum, the median list price in beleaguered Detroit is just $12 per square foot—55 times cheaper than in San Francisco.

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan, however, that price jumps to an astronomical $1,538 per square foot, leading to $1 million buying just 650 square feet.

Read full article here:

Article courtesy of slate.com

 

For more information or a free quote, please contact Proline Surveying.

Testimonials

"We just wanted to take a moment to let you know what a pleasure it was to work with you and your staff on our recent land title survey. You and your employees set the standard for professionalism, customer service and expertise in your field. Every step of the process with your company was a positive...

View All Testimonials»

Proline Features

  • Best in its class research facility
  • In house courier service
  • Industry leading turnaround times
  • Color Surveys
  • One point of contact
  • Advanced technology
  • Professional Staff

Contact Information

Proline Surveying, Ltd.
1106 W Abram St
Arlington, Texas, 76013
Ph. 817.276.1148
Fax 817.276.1147
Place An Order
Contact Proline Surveying