The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Boise City, ID (CBSA) (MEDLISPRIPERSQUFEEMM14260) from Jul 2017 to Jul 2025 about Boise City, ID, square feet, listing, median, price, and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in the United States (MEDLISPRIPERSQUFEEUS) from Jul 2016 to Jul 2025 about square feet, listing, median, price, and USA.

Washington DC was the most expensive major city for office space, among those being considered for Amazon’s second headquarters, in the United States in 2017. Tenants paid, on average, *** U.S. dollars per square foot for office space in that city, compared with *** U.S. dollars and *** U.S. dollars per square foot in Boston and Austin respectively.   Why is Washington DC so expensive? The GDP of the Washington metro area has steadily risen since 2001, which indicates that the economy is growing. This is not surprising, because it is the capital of the United States and, consequently, its political epicenter. All three branches of government, nearly *** foreign embassies and several international organizations - such as the IMF, the World Bank and the National Geographic Society - are located there, which also means that it’s the logical place for lobbying firms and many financial services companies to operate from.

Further growth expected in Washington DC The future of the office real estate market in Washington DC looks promising, due to its political importance and strong economy. Office rents are forecast to grow by almost *** percent by 2021, which is impressive given how high they already are. However, vacancy rates are also set to rise in the area, which means that more available office units will be unoccupied.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in San Francisco County/city, CA (MEDLISPRIPERSQUFEEMM6075) from Jul 2017 to Jul 2025 about San Francisco County/City, CA; square feet; listing; median; price; and USA.

In 2022, San Mateo, San Francisco, and Santa Clara were the most expensive districts for housing in the San Francisco Bay Area. In San Francisco, the average square footage price of single-family homes exceeded 1,000 U.S. dollars per square foot. Housing in Solano, on the other hand, was most affordable, with the average square footage price for single family homes at *** U.S. dollars.

How expensive is buying a home in San Francisco? Few metros in the U.S. are more expensive than San Francisco, CA. In 2022, the median sales price of existing single-family homes in San Francisco was about *** million U.S. dollars, making it the second priciest market in the U.S. House prices in the Golden City, were not always so high: in 2014, a two-bedroom house in the Bay Area would sell for less than ******* U.S. dollars but since then, the median price has more than doubled.

How much does renting an apartment cost? Despite rents falling in 2020, renting in San Francisco is still far from cheap. Renting a two-bedroom apartment cost close to ***** U.S. dollars in 2021. California is one of the least affordable states for renters. In fact, to afford to rent such an apartment, a household needs approximately ***** full time jobs at minimum wage or *** full time jobs at mean wage.

Prices for luxury housing in July 2024 were slightly lower than the market peak in 2021 and 2022. Luxury single-family properties had a median square footage price of *** U.S. dollars in July 2024, down from *** U.S. dollars in July 2022. Attached houses, on the other hand, had a median price of *** U.S. dollars per square foot, down from *** U.S. dollars in July 2021.

The average price for residential real estate in Manhattan, New York increased for luxury, new developments, and condos. Conversely, prices for re-sale and co-op properties declined slightly. In the third quarter of 2024, the average square footage price for a re-sale property was ***** U.S. dollars per square foot.

The average price per square foot of floor space in new single-family houses in South, United States increased from 2000 to 2021. In 2021, the average price for a new single-family house in that region was approximately *** U.S. dollars per square foot of floor space.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at *** U.S. dollars per square foot and Las Vegas for single-family homes between *** and *** U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over ***** more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over **** percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.

In 2024, the average square footage price of condos and new development condos in Brooklyn, NY declined slightly. Prices of one-to-three family homes, on the other hand, increased from *** U.S. dollars per square foot in the third quarter of 2023 to *** U.S. dollars in the third quarter of 2024.

This statistic shows the price per square foot in selected prime residential markets worldwide in 2018. Hong Kong was the most expensive residential market globally with average prime residential values of ***** U.S. dollars per square foot.

Housing Inventory: Median Listing Price per Square Feet in Philadelphia County/city, PA was 224.00000 U.S. $ in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet in Philadelphia County/city, PA reached a record high of 245.00000 in October of 2020 and a record low of 124.00000 in January of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet in Philadelphia County/city, PA - last updated from the United States Federal Reserve on August of 2025.

The average price per square foot of floor space in new single-family houses in Midwest, United States increased from 2000 to 2021. In 2021, the average price for a new single-family house in that region was approximately *** U.S. dollars per square foot of floor space.

In District of Columbia, the average rent per square foot was **** U.S. dollars in 2018, whereas renters in Oregon were expected to pay half as much in rent per square foot. DC was the most expensive state for renters, followed by New York, Hawaii, Massachusetts and California. Why is DC so expensive? District of Columbia is the center of the U.S. political system with all three branches of federal government sitting there: Congress (legislative), President (executive) and the Supreme Court (judicial). The above average household incomes of its residents mean that high rents are still sustainable for the rental market. Limited space in DC DC has the largest share of apartment dwellers in the country. This is most likely due to limited space, as the federal district has a much higher population density than the states. The political importance of DC and the high population density suggest that the federal district is likely to retain its spot as the most expensive rental market in the future.

Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Philadelphia County/city, PA was -0.88% in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Philadelphia County/city, PA reached a record high of 23.89 in October of 2020 and a record low of -10.13 in December of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Philadelphia County/city, PA - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Salt Lake County, UT (MEDLISPRIPERSQUFEEYY49035) from Jul 2017 to Aug 2025 about Salt Lake County, UT; Salt Lake City; UT; square feet; listing; median; price; and USA.

Geneva stands out as Europe's most expensive city for apartment purchases in early 2025, with prices reaching a staggering 15,720 euros per square meter. This Swiss city's real estate market dwarfs even high-cost locations like Zurich and London, highlighting the extreme disparities in housing affordability across the continent. The stark contrast between Geneva and more affordable cities like Nantes, France, where the price was 3,700 euros per square meter, underscores the complex factors influencing urban property markets in Europe. Rental market dynamics and affordability challenges While purchase prices vary widely, rental markets across Europe also show significant differences. London maintained its position as the continent's priciest city for apartment rentals in 2023, with the average monthly costs for a rental apartment amounting to 36.1 euros per square meter. This figure is double the rent in Lisbon, Portugal or Madrid, Spain, and substantially higher than in other major capitals like Paris and Berlin. The disparity in rental costs reflects broader economic trends, housing policies, and the intricate balance of supply and demand in urban centers. Economic factors influencing housing costs The European housing market is influenced by various economic factors, including inflation and energy costs. As of April 2025, the European Union's inflation rate stood at 2.4 percent, with significant variations among member states. Romania experienced the highest inflation at 4.9 percent, while France and Cyprus maintained lower rates. These economic pressures, coupled with rising energy costs, contribute to the overall cost of living and housing affordability across Europe. The volatility in electricity prices, particularly in countries like Italy where rates are projected to reach 153.83 euros per megawatt hour by February 2025, further impacts housing-related expenses for both homeowners and renters.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Kansas City, MO-KS (CBSA) (MEDLISPRIPERSQUFEE28140) from Jul 2016 to Aug 2025 about Kansas City, KS, square feet, MO, listing, median, price, and USA.

Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA was 946.00000 U.S. $ in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA reached a record high of 1159.00000 in February of 2020 and a record low of 924.00000 in August of 2016. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA - last updated from the United States Federal Reserve on August of 2025.