Price Per Square Foot Calculator
Enter the apartment's sale price, area in square meters, and possible housing company loan share. The calculator calculates the debt-free price per square foot.
Price per sq ft
Total price
Selling price
HOA loan share
Apartment Price Per Square Foot – What Does It Mean and How Is It Calculated?
Price per square foot, or price per square meter, is one of the most important metrics in apartment sales. It allows comparison of prices of apartments of different sizes in the same area and helps assess if the apartment is priced at market value.
How Is Price Per Square Foot Calculated?
Price per square foot is calculated by dividing the apartment's debt-free total price by its area:
Price per square foot = Debt-free price ÷ Area (m²)
Debt-free price means the sum of the sale price and housing company loan share. This is the apartment's true total price.
Why Is Housing Company Loan Share Important?
The housing company's loan share (housing loan) is part of the apartment's real price, even if it doesn't appear directly in the sale price. Two identical apartments in the same housing company can look very different:
| Apartment A | Apartment B | |
|---|---|---|
| Sale price | 200 000 € | 150 000 € |
| Housing loan | 0 € | 50 000 € |
| Debt-free price | 200 000 € | 200 000 € |
In the example, the apartments are actually of equal value, but by comparing sale prices, Apartment B appears cheaper.
Average Price Per Square Foot in the US
Price per square foot varies significantly by location. Overview for 2024:
| Area | Apartment building $/sq ft | House $/sq ft |
|---|---|---|
| New York City | 1,200–2,500 | 800–1,500 |
| Los Angeles | 800–1,500 | 600–1,200 |
| Chicago | 400–800 | 300–600 |
| Houston | 200–400 | 150–300 |
| Phoenix | 250–500 | 200–400 |
| Other cities | 150–300 | 100–250 |
Factors Affecting Price Per Square Foot
- Location – neighborhood, services, transport connections
- Condition – renovation needs lower price per square foot
- Housing company's condition – upcoming plumbing renovations and facade renovations
- Year built – new builds more expensive
- Floor and views – higher floors usually more expensive
- Apartment size – small apartments often more expensive per square foot
Tips for Apartment Buyers
- Always compare debt-free price per square foot
- Check the area's average price per square foot from the Zillow service
- Consider the housing company's upcoming renovations – they can significantly increase the real price
- Request the property manager's certificate before the purchase
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