No matter what kind of economic environment homebuyers find themselves in, one thing always holds true: They’ll be looking for a deal. Although there are many aspects of a home that can increase or decrease its value — such as climate, school district, landscaping, or the age of the home itself — usually buyers expect that the bigger the house, the bigger the price tag.
Around the country, however, no square foot is created equal and in some places bigger houses don’t necessarily translate to sky-high home values. With the latest data from real estate website Zillow.com,the following list highlights homes in U.S. metro areas with the lowest average price per square foot. This list includes all homes in the area, owned, for sale and recently sold. In effect, these cities are where your real estate dollar would go the furthest — places where you can buy the most space with the least amount of money.
On one end of the spectrum, the three most expensive cities by square foot are Honolulu, Hawaii ($399), San Jose, Calif. ($344) and Santa Cruz, Calif. ($305). The notoriously expensive New York metro area ranks seventh, at $225 per square foot, while the U.S. average stands at $92 per square foot, according to the Zillow data.
So, where can you get the biggest bang for your buck around the country? Click ahead for the list.
By Paul Toscano
Posted 13 Dec 2011