If you’ve been following Knock, you know that we hold Metro Atlanta near and dear to our hearts. It’s our launch market, and we are making solid waves here.
And while we totally ❤️ Atlanta, we understand that many locals have their eyes set on other cities. This market is officially a transient location.
So, this week, we thought we’d do something a little different on the blog. For those who are contemplating moving on, we analyzed how Atlanta compares to other metropolitan cities in the U.S. For reference, the median current listing price for homes in Atlanta is $308,000, according to Zillow. The median list price per square foot comes out to $223.
This is how 10 other markets compare.
1. New York City
Median price of homes currently listed (Zillow): $774,950
It’s worth noting that all of the homes selling for this median prices are located in the outer boroughs of the city, e.g. Bronx, Brooklyn, Queens and Staten Island.
While Zillow doesn’t have information on the median list price per square foot, we know that space in New York City homes can be a bit tight. For example, check out this current listing for $775,000.
This 775-square foot duplex home is located in Midtown Manhattan, and features 1 bedroom, 1 bathroom. To sum it up: Buyers would be paying $1,000 per square foot for this property.
In today’s market, homeowners would have to sell 2.5 homes in Atlanta in order to afford this one in Midtown.
2. San Francisco
Median price of homes currently listed (Zillow): $1,195,000
San Francisco is by far the most expensive metropolitan market. The median list price per square foot is a whopping $987.
We found one listing for exactly $1,195,000, and the property is gorgeous.
This is a 2-bedroom, 2-bathroom Victorian-style home, located in the Hayes Valley neighborhood of the city. The property has 1,200 square feet, making it $995 per square foot.
Homeowners would have to sell nearly four homes in Atlanta in order to afford one in San Francisco.
Median price of homes currently listed (Zillow): $289,900
Of all the markets we analyzed this week, Chicago is the most similar to Atlanta. (We’d probably argue in favor of Atlanta because Chicago winters are no joke.)
The median listing per square foot is $209, which is 6% less than what we are seeing in Atlanta.
So, what will $289,900 buy you in Chicago? Well, nearly everything listed within $2,000 of that price is right on the border of city limits. For example, this property costs $289,900 and straddles Chicago and neighboring town Franklin Park.
A buyer’s money will go a bit further here than it would in NYC or San Francisco. This property features 5 bedrooms and 2 bathrooms, and boasts 1,650 square feet. So, for $176 per square foot, this is what a buyer can obtain in Chicago.
Homeowners could comfortably sell one house in Atlanta and buy another on the border of Chicago and its neighboring suburbs.
Median price of homes currently listed (Zillow): $390,000
They aren’t joking when they say everything’s bigger in Texas. Although the median price of homes currently listed is $390,000, the median price per square foot is just $199.
Here’s what $390,000 can get a buyer in Dallas:
This property is 2,389 square feet, and features 4 bedrooms, 2.5 bathrooms. It is listed for $389,900, which comes out to $163 per square feet.
Dallas will give buyers an amazing bang for their buck. Atlanta homeowners would have to sell 1.25 homes in order to buy a property in Dallas.
Median price of homes currently listed (Zillow): $255,000
Phoenix is the second most affordable market on this list. The median list price per square foot comes out to $152.
Here’s what $255,000 will get a homebuyer in Phoenix:
This property costs $255,000 and has 1,200 square feet. So, for $213 per square foot, buyers can snag this 3 bedroom, 2 bathroom home in North Phoenix.
The average seller in Atlanta could comfortably sell their property and buy in Phoenix.
6. Washington, D.C.
Median price of homes currently listed (Zillow): $549,000
Ah, the nation’s capital. History, government, arts, culture. Sounds amazing, right? Well, it will definitely cost you.
The median list price per square foot in D.C. comes out to $499.
This is what $549,000 buys you in Washington:
A 2-bedroom, 2-bathroom apartment in this building on New Jersey Avenue. That apartment comes out to 1,002 square feet, so buyers would be paying $548 per square foot to live there.
To afford this apartment in D.C., homeowners would have to sell nearly two homes in Atlanta.
Median price of homes currently listed (Zillow): $475,000
Home prices in the Mile-High City have skyrocketed over the last three years. In May 2014, the median list price was $375,000 – 21% less than it is now.
What will $475,000 get you in Denver?
This 3-bedroom, 1-bathroom property costs exactly $475,000 and features 1,460 square feet. That’s $325 per square foot to live in the Whittier neighborhood of Denver, which is brimming with young professionals.
Homeowners in Atlanta would need to sell one-and-a-half properties in order to buy one in Denver.
Median price of homes currently listed (Zillow): $439,000
Folks who love to party will find themselves paying big bucks to live in Miami. The median list price per square foot is $407.
This is what you can get for $439,000 in Miami:
This home is on the northern border of Miami’s city limits, and features 3 bedrooms, 3 bathrooms. With 1,718 square feet of space, its buyer will be shelling out $255 per square foot.
The average homeowner in Atlanta would be need to sell 1.4 homes to afford one on the border of Miami.
Median price of homes currently listed (Zillow): $164,900
The City of Brotherly Love is the most affordable on this list. Homes cost just $124 per square foot.
This is what $165,000 will buy you:
This apartment is located in the Center City section. The property features 1 bedroom, 1 bathroom. With 785 square feet, its buyer will pay more than the median price per square foot: approximately $210.
Yes, homeowners in Atlanta could sell just one home and possibly buy two homes in Philadelphia with their return. However, they’d be giving up a lot of space. Many of the properties within the city of Philadelphia are attached row homes, and lack space.
[Editorial Note: The Philadelphia property featured has been updated to better align with trends we are seeing in other cities. ]
Median price of homes currently listed (Zillow): $619,950
With big hitters such as Microsoft and Amazon calling the city home, Seattle is a total tech hub. It’s comes as no surprise that homes here are among the most expensive in the country. The median list price per square foot is $447.
This is what you can buy for the median list price:
This property is in northeastern pocket of the city, and is listed at $619,000. Three bedrooms and 1.75 baths give way to 1,640 square feet. That means this home’s eventual buyer will pay $377 per square foot.
Homeowners in Atlanta would have to sell exactly two properties in order to afford this house in Seattle.
What you can get in Atlanta …
This roundup wouldn’t be complete if we didn’t show you what you could buy for the median price or less in Atlanta.
This property is listed at $260,000, and it features 4 bedrooms, 2.5 bathrooms.
With 2,072 square feet, its eventual buyer will be paying just $125 per square foot. That turns out to be more affordable than all of the homes we analyzed in other cities.
Ready to move on?
OK, so maybe you came, you saw, you conquered – and you’re ready to take on another city. We fully support you! If you’re thinking about relocating, learn how Knock can help you get the best return on your current house in 6 weeks or less.