When shopping for a home these days, you’ll probably hear this phrase quite a bit: price per square foot. You may also hear it in terms of price per square foot by ZIP code. Alright, what in the world does that mean? And why does your broker keep mentioning it? Simply put, a home’s price per square foot is used to give buyers a picture of how much they’re paying for the size of the house. For example, if you buy a home for $400,000 that has 2,000 square feet, you’ll be paying $200 per square foot. If you’re comparing multiple areas or neighborhoods in a metropolitan area, you can also analyze recent home sales to generate an average price per square foot by ZIP code.

So, why is this important? Which cities have the highest price per square foot by ZIP code? And what is a good house price per square foot in 2024? Let’s break it all down.

The Importance of a House’s Price Per Square Foot

While this is easier said than done, you’ll want to make sure you’re getting a good deal on your new home. According to Home Bay, the price per square foot for homes across the U.S. has gone up 386% since 1980. This is where understanding your price per square foot could play a major factor. Start with budgeting, for example. If you know your budget and the average price per square foot by ZIP code in the region you’re looking to move, you can estimate the size of a home you can afford. If your maximum budget is $350,000 and you want at least 2,500 square feet, your ideal range would be $100-150 per square foot.

The price per square foot, including the ZIP code average, can also be important during the valuation of your home. If market trends in your area are up, the price of your home may go up based on similar sales in your area.

What Are the Priciest and Least Priciest ZIP Codes?

It may come as no surprise that many of the most expensive ZIP codes for price per square foot fall in California or the Northeast. So, what is the flip side? Here are the top 20 most expensive and least expensive ZIP codes for home prices, according to Forbes and PropertyClub.

Price Per Square Foot by ZIP Code: The Most Expensive

If you’re looking for homes in any of these metropolitan areas, let’s just say you’ll need some serious bread. Guess it’s time to open a bakery.

1. Atherton, California (94027)
2. Boston, Massachusetts (02199)
3. Sagaponack, New York (11962)
4. Ross, California (94957)
5. Miami Beach, Florida (33109)
6. Beverly Hills, California (90210)
7. Santa Barbara, California (93108)
8. Santa Monica, California (90401-90411)
9. Los Altos, California (94022)
10. Medina, Washington (98039)
11. Los Altos, California (94024)
12. Palo Alto, California (94020-95014)
13. Water Mill, New York (11976)
14. Huntington Beach, California (90742)
15. Newport Beach, California (92662)
16. Stinson Beach, California (94970)
17. Portola Valley, California (94028)
18. Rancho Santa Fe, California (92067)
19. Newport Beach, California (92657)
20. Newport Beach, California (92661)

Price Per Square Foot by ZIP Code: The Least Expensive

Alright, we know the most expensive 20, so what are the cheapest 20? Surprisingly, there is a mix of urban and rural.

1. Flint, Michigan (48505)
2. Shreveport, Louisiana (71103)
3. Girardville, Pennsylvania (17935)
4. Matoaka, West Virginia (24736)
5. Pine Bluff, Arkansas (71601)
6. Danville, Illinois (61832)
7. Bramwell, West Virginia (24724)
8. Cotton Plant, Arkansas (72036)
9. Seth, West Virginia (25142)
10. Jennings, Missouri (63136)
11. Patterson, Arkansas (72123)
12. Detroit, Michigan (48224)
13. Muncie, Indiana (47302)
14. Baltimore, Maryland (21217)
15. Philadelphia, Pennsylvania (19140)
16. Memphis, Tennessee (38109)
17. Marion, Indiana (46953)
18. Southport, New York (14904)
19. Steubenville, Ohio (43952)
20. Indianapolis, Indiana (46218)

NHC: The Best Price Per Square Foot By ZIP Code

So, we’ve seen the top 20 ZIP codes for price per square foot and the cheapest, but what else is out there? Is there another way to get value for money in today’s wild home market? Yes, yes there is. At National HomeCorp, we offer buyers affordable houses at prices per square foot that can’t be beaten. Take Texas, for example. Although the average price per square foot in the state is $183, we have available homes for under $100 per square foot.

On top of Texas, we also have NHC communities in North Carolina, Alabama, and beautiful Florida. These high-quality, newly-built homes give you the best bang for your buck and plenty of space for you and your family to grow. Be sure to check out our collections to learn more about our floor plans. If you’d like to speak to us about the buying process, feel free to contact us at any time.

FAQs

How large is one square foot?
One square foot is equal to the area of a square with four sides that are each one foot long. This measurement is used to calculate the price per square foot.

How much house can I afford?
What you can afford depends on several factors, including how much you can put down on the home, what your weekly or monthly income is, and how much you’re willing to spend on a mortgage.

What is the most expensive city based on price per square foot by ZIP code?
According to Forbes, the most expensive city in the U.S. for price per square foot in 2024 is Atherton, California (94027).

What is the least expensive city based on price per square foot by ZIP code?
Flint, Michigan is the least expensive city for price per square foot in 2024, according to PropertyClub.

How do you calculate the price per square foot?
To calculate the price per square foot of a home, divide the total price by the total square footage.

What is the average price per square foot in Texas?
With over 150,000 homes currently for sale, Texas’s average price per square foot in 2024 is $183.