How far will a million bucks go in NYC?

$1 million will likely net more space in NYC versus San Francisco, Boston

TRD NEW YORK /
Mar.March 11, 2014 04:15 PM

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 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 $1,000,000, based on the median price per square foot in each city:

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 $1,000,000 buying just 650 square feet.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

CEO of Amherst Holdings LLC Sean Dobson

Amherst Holdings to buy single-family landlord for $2.3B

From left: 220 Central Park South, Vornado CEO Steve Roth, Sting and Ken Griffin (Credit: Google Maps, Getty Images)

At 220 CPS, 91% of condos are sold amid “very soft” market: Vornado

Lawyer claims court order to reduce size of 200 Amsterdam Avenue will have far-reaching implications across New York City. (Credit: iStock, 200 Amsterdam)

Ruling to chop top of UWS tower affects buildings across city: lawyer

Bed Bath & Beyond CEO Mark Tritton (Credit: Getty Images, Mike Mozart via Flickr)

Bed Bath & Beyond to invest $1B in store upgrades and buybacks

China’s home-price growth slows to 18-month low amid concerns over coronavirus (Credit: iStock)

China’s home-price growth slows as coronavirus seizes economy

arrow_forward_ios
Loading...