The Best 'Bang for Your Buck' Real Estate Markets

Source: Zillow.com || Photo: Tony Cordoza | Getty Images 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 ToscanoPosted 13 Dec 2011

Photo: Courtesy of Ray Steup | Flickr Value per square foot: $62 Average home size: 1,652 sq ft Zillow Home Value Index (ZHVI): $86,700 Fall from value peak: -27.1% Year-over-year price change: -14.7% More information from Zillow on the Toledo market

Photos: Shawn Dent | www.augustaga.gov Value per square foot: $61 Average home size: 1,756 sqft Zillow Home Value Index (ZHVI): $84,600 Fall from value peak: -14.1% Year-over-year price change: -4.1% More information from Zillow on the Augusta market

Photo: Tom Bower | Flickr Value per square foot: $61 Average home size: 1,634 sqft Zillow Home Value Index (ZHVI): $88,900 Fall from value peak: -22.8% Year-over-year price change: -6.4% More information from Zillow on the Canton market

Photo: Tetra Images | Getty Images Value per square foot: $60 Average home size: 1,882 sqft Zillow Home Value Index (ZHVI): $95,400 Fall from value peak: -16.7% Year-over-year price change: -8.4% More information from Zillow on the Memphis market

Photo: Superstock | Getty Images Value per square foot: $60 Average home size: 2,128 sqft Zillow Home Value Index (ZHVI): $109,700 Fall from value peak: -38.8% Year-over-year price change: -14.7% More information from Zillow on the Atlanta market

Photo: Getty Images Value per square foot: $59 Average home size: 1,604 sqft Zillow Home Value Index (ZHVI): $72,900 Fall from value peak: -52.0% Year-over-year price change: -6.7%More information from Zillow on the Detroit market

Photo: Danita Delimont | Getty Images Value per square foot: $57 Average home size: 1,803 sqft Zillow Home Value Index (ZHVI): $78,200 Fall from value peak: -24.0% Year-over-year price change: -12.8% More information from Zillow on the Mobile market

Photo: Courtesy of City of Spartanburg | Flickr Value per square foot: $56 Average home size: 1,678 sqft Zillow Home Value Index (ZHVI): $98,800 Fall from value peak: -13.8% Year-over-year price change: -4.7% More information from Zillow on the Spartanburg market

Photo: Patti McConvill | Getty Images Value per square foot: $52 Average home size: 1,666 sqft Zillow Home Value Index (ZHVI): $89,100 Fall from value peak: -55.6% Year-over-year price change: -4.7% More information from Zillow on the Lakeland market

Source: www.ocalafla.org Value per square foot: $50 Average home size: 1,615 sqft Zillow Home Value Index (ZHVI): $85,200 Fall from value peak: -52.8% Year-over-year price change: -12.7% More information from Zillow on the Ocala market

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