Ever wonder which of our largest cities are home to our largest homes? So did Lending Tree, an online lending exchange that connects consumers with multiple banks, lenders and credit partners who compete for your real estate clients’ business.
Lending Tree analyzed 45 of America’s largest cities for single-family homes. It calculated the median home values in each city and the homes’ cost per square footage to reveal where consumers can get the biggest bang for their respective bucks in terms of living space.
According to data from the US Census Bureau, Tendayi Kapfidze, chief economist with Lending Tree, reported that the median size of new homes completed in Q1 2018 was 2,412 square feet. Remember that only a small portion of housing stock is new each year, that the median house age is 37 and therefore, that the median size of all homes is lower is lower than the 2,412 number for new homes.
As one might expect, the state of Texas is home to the largest homes. Houston comes in at number 1 and Austin and Dallas round out the top 5 slots in this largest home ranking. Also, Texas has had and is currently enjoying the largest annual population growth in the nation since 2010. Obviously, more people equals more houses…more large houses.
Atlanta comes in at the number 2 slot on this largest homes ranking. Other Southern cities dominate the top 10 in this ranking. Washington DC ranks third. The Midwest part of the country is the least pretentious. It has the most cities with the smallest homes while its two largest cities rank among the bottom 10 of this list.
Houses with Largest Square Footage
- Houston
Median size: 1,952 square feet
Median home value: $196,000
Cost/square foot: $100
- Atlanta
Median Size: 1,914 square feet
Median home value: $196,000
Cost/square foot: $102
- Washington DC
Median size: 1,908
Median home value: $446,000
Cost/square foot: $228
- Dallas
Median Size: 1,862
Median home value: $217,000
Cost/square foot: $117
- Austin
Median size: 1,861
Median home value: $283,000
Cost square foot: $150
- Las Vegas
- Phoenix
- Raleigh
- Boston
- Orlando
Houses with Smallest Square Footage
- Milwaukee
Median size: 1,388
Median home value: $175,000
Cost/square foot: $130
- Minneapolis
Median size: 1,360
Median home value: $273,000
Cost/square foot: $200
- Detroit
Median size: 1,333
Median home value: $140,00
Cost/square foot: $108
Most Expensive Square Footage
- San Jose – $678/square foot
- San Francisco – $548/square foot
- Los Angeles – $400/square foot
- San Diego – $348/square foot
- Denver – $251/square foot
