The formula
Price per square foot is a total price divided by an area: price ÷ square feet. Using the
example figures above — a $350,000 property with 1,750 sq ft —
the price per square foot is $350,000 ÷ 1,750 sq ft = $200.00. The calculator also runs the formula in reverse: enter
a price per square foot and an area to get a total price — $200.00 per sq ft
× 1,750 sq ft = $350,000.
How to compare two homes by price per square foot
Comparing two listings by their sticker price alone can be misleading when they are
different sizes. Comparing by price per square foot puts them on the same footing:
- Take each listing's price and square footage. Take the total price and the finished (or listed) square footage for each property you want to compare. Property A: $350,000 and 1,750 sq ft. Property B: $420,000 and 2,400 sq ft.
- Divide price by square feet for each. Divide each property's price by its square footage. A: $350,000 ÷ 1,750 sq ft = $200.00 per sq ft. B: $420,000 ÷ 2,400 sq ft = $175.00 per sq ft.
- Compare the per-square-foot figures. Compare the two results directly: $200.00 vs $175.00 per sq ft. In this example Property B is $25.00 per sq ft cheaper, or 12.5% less.
- Check what the square footage includes. Check that both figures measure the same thing before trusting the comparison: finished square footage vs total (including unfinished basement or garage), and house square footage vs the size of the lot. A lower price per square foot can simply mean less finished space was counted.
Which square footage to use
The figure you divide by matters as much as the price. For a home for sale, use the
listing's finished square footage — the same measure covered on the
square footage calculator
hub, which explains what most US listings count as finished, above-grade living space.
For rent, use annual rent ÷ square feet — if you only have a monthly figure, multiply it
by 12 first. For example, a $2,000 monthly rent on 1,200 sq ft is $24,000 a year, or $24,000 ÷ 1,200 sq ft = $20.00 per sq ft per year.
For construction or renovation, cost per square foot is the project's cost divided by the
finished area it produced — the same division, applied to a build cost instead of a sale
price.
Why price per square foot can mislead
Smaller homes usually show a higher price per square foot, because kitchens, bathrooms and
other fixed-cost spaces are spread over less area — a small home is not necessarily
"overpriced" just because its per-square-foot figure is higher than a larger home's.
The figure also leaves out lot size, condition and location — a renovated home on a large
lot in a strong location and a dated home on a small lot in a weaker one can share the same
price per square foot for very different reasons. Treat price per square foot as a
comparison tool between similar properties, not as a valuation on its own.
Per square meter
One square meter is 10.7639 square feet, so a price per square foot
converts to a price per square meter by multiplying by that factor: $200.00 × 10.7639 = $2,152.78 per
square meter.
FAQ
How do I calculate price per square foot? ▼
Divide the total price by the square footage. A $350,000 home with 1,750 sq ft works out to $350,000 ÷ 1,750 sq ft = $200.00 per sq ft.
What is a good price per square foot? ▼
There is no universal number — it depends entirely on the comparison set: location, property type, condition and what counts as square footage all move the figure. This page supplies no market averages; use it to compare specific properties against each other, not against a general benchmark.
How do I calculate rent per square foot? ▼
Divide the annual rent by the square footage; if you only have a monthly rent, multiply it by 12 first. For example, a $2,000 monthly rent is $24,000 a year, so on 1,200 sq ft that is $24,000 ÷ 1,200 sq ft = $20.00 per sq ft per year.
Is price per square foot the same as cost per square foot? ▼
Same arithmetic, different inputs. "Price per square foot" usually divides a sale or listing price by area; "cost per square foot" usually divides a construction or renovation cost by the finished area it produced. Both are simply an amount divided by square feet.
How do I convert price per square foot to price per square meter? ▼
Multiply by 10.7639 (the number of square feet in a square meter). $200.00 per sq ft × 10.7639 = $2,152.78 per square meter.