How much $1 million buys you in real estate in each major U.S. city
Ever wonder how far $1 million goes in real estate in the U.S.?
Here’s an interesting chart from Slate:
SF is ridonculus. So is Detroit.
I wonder how our prices compare – it is very rare to find anything under US$500,000 in this country and near a city close to or over a million is pretty normal. And that’s regardless of sq ft – of course, they don’t build ’em as big here but then we are a tiny country (Switzerland)! However the quality of our build vastly outdoes most of that elsewhere, even in neighbouring countries, it’s the complaint I hear of most when Swiss go abroad…
Depressing! The footnote about manhattan vs NYC was interesting – manhattan would less than half as large as SF at 650 or so.
Why does Birmingham never appear on a list like this? It’s bigger than some of cities that are listed.
It would have been interesting if they did the study at $500,000 or so. Most of those sq ft are too high to get a true feel of price difference.
And this is why they’re paying people to move to Detroit…
Am a little disturbed to find Denver in the 10th spot. Things HAVE been getting pricey here. And this confirms that feeling even more. I am so happy that I bought the little place at the time that I did. If I were to sell it I would make a lot of money (for what it is). Instead, I will rent it out and make long-term passive income. Nice.
Yep SF real estate is bleeping expensive. Over the years I’ve watched the price skyrocket from “almost affordable” to “don’t even bother if you’re not a Facebook god.” 🙁
Detroit has a ton of financial problems right now, very depressed economy. Entire abandoned neighborhoods, I’m not surprised.
The Bay area has a ton of financial services and high tech companies. Any city that has big money industries that require intellectual talent will have very high real estate prices (supply and demand). So, I’m not surprised there either. Also explains NYC. Foreign investors/part of the year residents will also drive prices up. I used to work a lot in the Bay area.
Very interesting! I wish Honolulu was included. I personally like small spaces better in vibrant neighborhoods with good available jobs so the less space per $ doesn’t bother me so much.