Nationally, the median home price is around $400,000, up 20% since 2020. According to PropertyShark, that budget yields a 4,918 square-foot home in Detroit (enough space for a five- to six-bedroom home, depending on room size); in Manhattan, just 267 square feet (barely big enough for a studio apartment).
But how does $400,000 stack up in Phoenix? The answer lies somewhere in the middle.
Of course, the median home price varies widely across the Phoenix area. Here’s how the square footage shakes out in the largest Phoenix-area cities.
Phoenix – 1,515 square feet
In Phoenix proper, the median sale price is $425,000. That means on a $400,000 budget, Phoenicians must shop for homes that are slightly smaller than the typical square footage, staying around the 1,515-square-foot range. That’s about 100 square feet smaller than the median Phoenix home (1,610 square feet) and carries a price per square foot of $264.
Glendale – 1,707 square feet
The cheapest prices in the Phoenix area can be found in Glendale, where the median home price is $413,000. That means even in the most affordable parts of Phoenix, homebuyers on a $400,000 budget are at a disadvantage…