Price per Square Foot Calculator

Price per square foot is the quickest way to compare homes of different sizes. Enter a price and the finished living area, in square feet or square meters, and the calculator gives the price per square foot and per square meter. Add up to three comparable sales and it shows their average and median, the value those figures imply for the home you are looking at, and how the asking price compares. It also works for rents and commercial space, and the chart puts the home and its comparables side by side.

price per square foot = price ÷ finished square feet

price per square meter = price per square foot × 10.7639

One foot is exactly 0.3048 meters, so one square meter is 10.7639 square feet. A $450,000 home of 1,800 square feet is $250.00 per square foot, or $2,691 per square meter.

If three similar homes nearby sold for $430,000 (1,750 sq ft), $475,000 (1,850 sq ft) and $410,000 (1,700 sq ft), their prices per square foot average $247.88 and the median is $245.71. At the average, an 1,800 square foot home would be worth about $446,189. Comparables work best when they are recent, close by, and similar in age, condition, lot size and number of bedrooms and bathrooms, and when they sold in normal market conditions.

In the United States, finished square footage usually follows ANSI Z765, which measures finished, heated living space and excludes garages, unfinished basements and areas with low ceilings. Listings do not always follow it, and tax records, appraisals and listings can disagree for the same house. Before comparing, check that each figure measures the same thing. Outside the US, apartments are often listed by internal area in square meters, and rules on balconies and common areas vary by country.

• Size effect: larger homes often have a lower price per square foot, because land, kitchens and bathrooms are a fixed cost spread over more space.
• Location: two identical homes a few streets apart can differ widely in price per square foot.
• Condition and features: renovations, views, schools and lot size affect value but not square footage.
• Small samples: one unusual sale can move an average, which is why the median is shown too.

Enter monthly or annual rent as the price to compare rentals the same way. Commercial leases in the US are usually quoted as annual rent per square foot, so a quote of $30 per square foot for 2,000 square feet means $60,000 a year. For buy versus rent decisions, the rent versus buy calculator weighs the full costs of each.

Treat price per square foot as a starting point for questions, not a valuation. If a home is well above its comparables, look for the reason, such as a recent renovation or a larger lot; if it is well below, look for problems. Lenders rely on a professional appraisal, which adjusts each comparable for differences in features. For your own budget, the home affordability and mortgage calculators turn a price into a monthly payment.