10 US Cities Where $400K Buys the Most Square Footage
The national median home price is now around $400,000, but what that budget buys depends heavily on where you look.
A recent analysis from PropertyShark estimates how many square feet $400,000 could buy, in principle, across major U.S. cities based on local price-per-square-foot averages. In the most expensive markets, that budget barely covers a small studio, while in more affordable metros, it could stretch to a house approaching 5,000 square feet.
Here's a look at the major metros where you can buy the most house for $400,000.
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Top 10 Cities Where You Can Get the Most Space for $400K
Detroit: 4,918 square feet
Cleveland: 4,467 square feet
Toledo, Ohio: 3,622 square feet
Buffalo, New York: 3,201 square feet
Lubbock, Texas: 3,088 square feet
Wichita, Kansas: 2,954 square feet
Kansas City, Missouri: 2,827 square feet
Memphis, Tennessee: 2,816 square feet
Fort Wayne, Indiana: 2,717 square feet
Indianapolis: 2,676 square feet
Where $400K Goes the Furthest — and Where It Falls Short
Looking at the cities where you get the most bang for your buck, it's clear to see that the Midwest dominates, with seven of the 10 cities located in the region. However, not all major cities in the Midwest follow the trend: In Minneapolis, $400,000 buys an average of 1,581 square feet and in Chicago, it buys an average of 1,667 square feet.
The city where $400,000 buys the least amount of space is Manhattan, where it buys only 267 square feet — the size of a small studio apartment. You can get 18 times the space in Detroit for the same price.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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