What the Median Home Price Gives You, and Where
January 19, 2022
The median list price in the U.S. rose to $375,000 in December 2021, according to the latest housing data from realtor.com®. But just how much of a house that will get home shoppers greatly depends on where they live.
“For the nationwide median list price, you can get a small condo in San Jose or a spacious home with four times the bedrooms and almost 10 times the square footage in places like Youngstown, Ohio,” says Danielle Hale, realtor.com®’s chief economist.
With remote work options growing, some home buyers may be willing to relocate to get the space they desire. Smaller cities in the South and Midwest offer some of the most space in homes.
Realtor.com®’s research team evaluated how many square feet the median home price would get house hunters in the 100 largest metro areas. They narrowed their list to where buyers could get everything from a small cozy to a mansion for the median list price.
In San Jose, Calif., home shoppers may find their money stretches some of the least. For the nationwide median list price of $375,000, buyers likely will only be able to get a 458-square foot home.
However, in the Midwest, homes start expanding. In Youngstown, Ohio, buyers may find they can afford a 4,540 square foot home for the nationwide median list price of $375,000.
Indianapolis offers an average of 2,847 square feet for the median list price, and Greenville, S.C., offers 2,451 square feet.
Visit realtor.com® to learn more about the places where budgets could stretch the most for more square footage in real estate.
“How Much Will Today’s Median Home Price--$375K—Really Get You Across the U.S.?” realtor.com® (Jan. 17, 2022)
Updated: May 16, 2022