Median home price in the U.S. is averaged at $300,000, which gets you, again on average, 1,700 square feet. But when you boil it down, those numbers don’t really mean anything, because they represent too wide an area.
That’s precisely why Point 2 Homes applied those U.S. averages to the country’s 50 biggest cities to see what $300,000 could get a homebuyer. In Miami, the answer was more than what they could get in Los Angeles…and Seattle, and Manhattan, and so on.
For $300,000, the average Miami buyer could find a 952-square-foot home, compared to 647 square feet in Los Angeles, 741 square feet in Seattle, or a lousy 165 square feet in Manhattan. Of course, after three years of consistent price growth (two of those years being record breaking) there are a number of cities in which Miami is unaffordable by comparison.
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