is $122 per square foot of floor space, according to The average price per square foot of a single-family house in the U.S. The average price per square foot of a house is calculated by taking the current market value of the house and dividing it by the total square footage. What is the average price per square foot? Indeed, when comparing properties, other factors should come into consideration, including the location, the type of property, the build quality, style, condition and any additional features (a swimming pool, for example). Necessarily give you an accurate indication of value. And similarity is the important point here, because looking only at the price per square foot of living space won't You'll commonly find it quoted by real estate agents, mortgage loan officers and others in the property andĪs a consumer, the price per square foot serves to help you gauge how expensive a property might be to buy or rent in comparison with other similar properties. When comparing the cost of property purchases or rentals, price per square foot can often prove a useful metric to aid your decision-making process. Our average price per square foot for Pages Avenue stands at (250+230+220+180) ÷ 4 = $220. Let's say, for example, that there are 4 properties sold on Pages Avenue, all of a similar size with one in less-good condition: To do this, simply add together the square foot cost of each property in the neighbourhoodĪnd then divide it by the number of properties. If you want to get an overview of neighborhood values, one good way to do this is by working out the average price per square foot in that given area. Rent per square foot = monthly rent ÷ floor space in ft² Advertisements Calculating the average price per square foot
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