Price Per Square Foot Calculator
Quick answer
$/sf = price ÷ livable square feet. If you are more than ~1 standard deviation above the micro-market band for matched quality, you need a reason—view, schools, lot width, or new build—or you are overpaying.
For a related estimate, see Rental Cash Flow Calculator.
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Core formula
Price per SF = contract price ÷ livable SF. For investment, implied rent per SF = monthly market rent ÷ livable SF—compare to operating margin via cap rate. Excluded: land value for land-heavy parcels where house SF undercounts total value.
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$/sf normalizes price for size so you can scan comps fast—but it ignores layout, lot, and income. Use it for offer discipline on similar product; for rentals, always tie basis to NOI and cap.
How to use this calculator
- Match measurement definitions: Appraisers use ANSI-style living area; some listings include basements or garages—mixing them makes $/sf meaningless.
- Adjust for unpriced value: Flat yards, quiet streets, and extra parking do not show up in $/sf but show up in resale.
- Triangulate to income: On rentals, divide NOI by feet if you want “rent per sf” economics—$/sf without rent is decoration.
Cheap $/sf can be expensive income
A low $/sf with terrible rent/sf is a worse deal than a moderate $/sf with strong NOI—basis must connect to cash.
Real-world examples
- Case study: $515k, 2,050 sf: $/sf ≈ $251. Comps $235–$255/sf for same vintage—you are at the top of band. If rent only supports a 5.5% cap at $515k but comps trade at 6.5% caps, the “fair” $/sf is not fair to your income statement.
- New build +$35/sf: Paying $35/sf more for new construction buys warranty and lower near-term capex—amortize that premium against avoided repairs over the first decade.
What to decide
Use $/sf to flag outliers before you fall in love with finishes; use rental investment math to decide if the outlier is justified. If $/sf is low and title or zoning is messy, you are not buying a discount—you are buying risk.
FAQ
Is $/sq ft enough to price a home?
It is a comp shortcut, not a substitute for adjustments—beds, baths, condition, lot, and location still move value more than raw size.
Do I use living area or total footprint?
Match what your comps report—mixing finished basement SF with above-grade comps skews the ratio.
Why compare $/sq ft across zip codes?
You mostly should not—schools, tax, and demand layers differ; use hyperlocal closed sales.
How does $/sq ft relate to cap rate?
Price per foot helps you sanity-check pay-in; [cap rate](/cap-rate-calculator) tests whether the income justifies that basis.