How We Calculate Average Selling Cost Per Square Foot
Calculation Formula
Average Selling Cost Per Square Foot = Median Home Price ÷ Average Home Size (Square Footage)
Our Methodology
Our analysis synthesizes data from multiple authoritative sources to provide accurate cost per square foot benchmarks:
Calculation Standards:
- Home Price Data: We use median sale prices (the middle value of all transactions) rather than average prices to minimize the impact of luxury property outliers
- Square Footage Determination: Includes all finished, heated living space with proper ceiling height (typically 7+ feet), excluding garages, unfinished basements, porches, and utility areas
- Regional Adjustments: Account for local market variations and eliminate seasonal fluctuations through trailing 12-month averages
- Data Quality Controls: Cross-reference multiple sources and apply outlier analysis to ensure accuracy
What We Include in Square Footage:
- Main floor living areas and bedrooms
- Upper floors and finished basements with proper heating/cooling
- Finished attic spaces meeting ceiling height requirements
What We Exclude:
- Garages, carports, and storage buildings
- Unfinished basements and utility rooms
- Porches, decks, and outdoor living spaces
- Mechanical rooms and crawl spaces
Sample Calculation
Using a typical example:
- Median Home Price: $450,000
- Average Home Size: 2,200 square feet
- Cost Per Square Foot: $450,000 ÷ 2,200 = $204.55
This standardized approach ensures consistent comparisons across all states and market conditions, providing reliable benchmarks for property valuation and investment analysis.
Complete 50-State Analysis: Average Selling Cost Per Square Foot
| State | Median Home Price | Avg Home Size (Sq Ft) | Cost Per Sq Ft | YoY Change |
|---|---|---|---|---|
| Alabama | $295,500 | 1,841 | $160 | +4.1% |
| Alaska | $422,600 | 1,823 | $232 | +8.3% |
| Arizona | $466,500 | 1,934 | $241 | +3.5% |
| Arkansas | $270,200 | 1,792 | $151 | +5.4% |
| California | $906,500 | 1,625 | $558 | +6.0% |
| Colorado | $671,100 | 2,126 | $316 | -1.6% |
| Connecticut | $523,600 | 1,847 | $283 | +10.9% |
| Delaware | $392,200 | 1,867 | $210 | +5.9% |
| District of Columbia | $1,360,000 | 1,440 | $944 | +9.1% |
| Florida | $436,600 | 1,823 | $240 | +1.0% |
| Georgia | $398,400 | 1,934 | $206 | +1.5% |
| Hawaii | $957,800 | 1,309 | $732 | +0.4% |
| Idaho | $505,300 | 1,932 | $262 | +0.4% |
| Illinois | $322,700 | 1,945 | $166 | +7.2% |
| Indiana | $279,300 | 1,834 | $152 | +5.7% |
| Iowa | $255,200 | 1,550 | $165 | +2.8% |
| Kansas | $311,500 | 1,798 | $173 | +4.6% |
| Kentucky | $282,800 | 1,743 | $162 | +4.9% |
| Louisiana | $263,200 | 1,738 | $151 | +5.4% |
| Maine | $396,400 | 1,743 | $227 | +5.1% |
| Maryland | $552,300 | 1,889 | $292 | +3.4% |
| Massachusetts | $702,400 | 1,744 | $403 | +6.6% |
| Michigan | $290,200 | 1,867 | $155 | +5.0% |
| Minnesota | $389,300 | 1,934 | $201 | +6.9% |
| Mississippi | $264,900 | 1,879 | $141 | +2.6% |
| Missouri | $291,200 | 1,843 | $158 | +7.5% |
| Montana | $538,300 | 1,867 | $288 | +4.1% |
| Nebraska | $314,800 | 1,876 | $168 | +3.2% |
| Nevada | $500,700 | 1,889 | $265 | +1.9% |
| New Hampshire | $541,400 | 1,789 | $302 | +8.0% |
| New Jersey | $575,000 | 1,840 | $312 | +9.2% |
| New Mexico | $353,400 | 1,823 | $194 | +9.1% |
| New York | $586,400 | 1,692 | $347 | +15.5% |
| North Carolina | $403,700 | 1,912 | $211 | +1.8% |
| North Dakota | $287,000 | 1,743 | $165 | +12.9% |
| Ohio | $276,900 | 1,891 | $146 | +5.9% |
| Oklahoma | $260,400 | 1,746 | $149 | +3.1% |
| Oregon | $543,600 | 1,780 | $305 | +3.2% |
| Pennsylvania | $340,200 | 1,876 | $181 | +7.5% |
| Rhode Island | $528,600 | 1,654 | $319 | +6.8% |
| South Carolina | $410,100 | 1,823 | $225 | +5.3% |
| South Dakota | $344,700 | 1,834 | $188 | +3.5% |
| Tennessee | $412,600 | 1,876 | $220 | +3.2% |
| Texas | $353,700 | 1,943 | $182 | -0.76% |
| Utah | $636,400 | 2,305 | $276 | +2.4% |
| Vermont | $459,400 | 1,743 | $264 | +7.2% |
| Virginia | $499,400 | 1,889 | $264 | +5.7% |
| Washington | $690,100 | 1,903 | $363 | +1.8% |
| West Virginia | $253,100 | 1,714 | $148 | +0.9% |
| Wisconsin | $350,000 | 1,923 | $182 | +8.7% |
| Wyoming | $484,000 | 1,876 | $258 | +15.4% |
Key Takeaways
The average selling cost per square foot reveals dramatic regional disparities across the U.S. housing market, with the national average of $226 masking extreme variations, ranging from $148 per square foot in West Virginia to $732 per square foot in Hawaii. West Coast and Northeast markets consistently command the highest premiums due to supply constraints and high-income employment, while Southern and Midwestern states offer significantly more affordable options. Despite varying price levels, 47 of 50 states show positive year-over-year growth, indicating broad-based housing demand with the strongest appreciation in mid-tier markets, suggesting continued migration from expensive coastal areas to more affordable interior regions.
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