Depending on the region, $1 million can net you either an incredible mansion or a bare-bones apartment in a high-rise building.
A million dollars holds very different value depending on the location. Today’s infographic looks at how much square footage you can get with this amount in various US cities. This infographic takes into account the median list price per square foot in various cities and calculates approximately how many square feet you can buy with a million dollars.
Leading the pack in terms of pure value is Detroit, Michigan. In this city, a million dollars can snag you 22,222 square feet of property. While not necessarily the most attractive destination, this value is unmistakable. Trailing closely behind Detroit are cities like Memphis, Milwaukee, Indianapolis, and El Paso. While Detroit is firmly on top in terms of value, a million dollars would net you a solid amount of square feet in each of these cities, with at least 9,000+ square feet guaranteed in each.
We can’t look at the best value without looking at what is technically the worst value. The worst value in terms of how far a million dollars will go is in San Francisco, California. Here, a million dollars won’t even get you 1,000 square feet, falling short by 90+ square feet. Other cities where a million dollars won’t go a long way include Boston, San Jose, New York, and Oakland. These locations may be more desirable to most than the ones mentioned previously, but the property value is much higher and thus you’d be spending far more money.
Be sure to read through the rest of the infographic to see where your city stacks up! And if the idea of value ranging depending on the location interests you, be sure to check out our infographic on what a hundred dollars can get you in each state.