Just How Much Home Can You Buy For A Dollar?
According to Zillow, the current US median home price is $218,000. That means if you have (on average) 218,000 dollars, you can buy a home. But how much home can you buy for a single dollar?
Zillow recently explored how much house you can buy for one dollar in the current market conditions. Currently, a dollar will buy you 1.07 square inches of space in a typical US home. That’s down slightly from 1.2 square inches in 2008—and less than half of what a dollar would buy you in 1998 at 2.1 inches.
If you have been thinking about selling your home, now is a great time to do so because a dollar buys less house today than it did a decade ago, and even less than it did two decades ago. This means potential Buyers have to use more dollars to purchase your whole home.