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LENDINGTREE INC (TREE)
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LendingTree : Reveals the Cities with the Biggest Houses in America

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10/02/2018 | 04:31pm CEST

CHARLOTTE, N.C., Oct. 2, 2018 /PRNewswire/ -- LendingTree®, the nation's leading online loan marketplace, today released its study on the cities with the biggest houses in America, ranking U.S. cities by home size.

LendingTree logo (PRNewsfoto/LendingTree)

To assess the median home size, analysts used LendingTree's proprietary database of almost all homes in the U.S. to calculate median home sizes for single-family homes for the largest 45 cities in the country. They also calculated median value to get a cost per square foot and reveal where homeowners get the most bang for their buck, at least in terms of living space.

"The Census Bureau reports that the median size of new homes completed in the second quarter was 2,412 square feet," said Tendayi Kapfidze, Chief Economist at LendingTree. "Home sizes have leveled off the past few years from a peak of 2,488 square feet in the third quarter of 2015, though homes sizes are generally larger today than they were for previous generations. Because only a small proportion of the housing stock is new each year, the median size of all homes is lower given a median house age of 37 years."

Key findings

  • Everything is bigger in Texas. Houston leads the list, with Austin and Dallas also in the top five. Besides having a lot of space, Texas has been adding new residents at a steady pace, with the nation's largest annual population growth between 2010 and 2016. More new homes means larger homes. 
  • South equals size. Other Southern cities dominate the top 10, with Atlanta, known for its sprawl, at No. 2.
  • Money talks. The Washington, D.C., area, whose suburbs include the three wealthiest counties in the country, comes in third. Boston, another wealthy city, ranks No. 9.  
  • Show me? The Midwest lives up to its unpretentious reputation by having the most cities with the smallest houses. Missouri's Show Me State nickname clearly does not refer to houses, with its two largest cities both in the bottom 10.
  • Older is smaller. Cities with older housing stock have smaller houses, including Detroit at No. 45 on the list.

Cities with the biggest houses in America:

No. 1: Houston
Median size: 1,952 square feet
Median value: $196,000
Cost per square foot: $100

No. 2: Atlanta
Median size: 1,914 square feet
Median value: $196,000
Cost per square foot: $102

No. 3: Washington
Median size: 1,908 square feet
Median value: $446,000
Cost per square foot: $228

Cities with the smallest houses in America:

No. 43: Milwaukee
Median size: 1,388 square feet
Median value: $175,000
Cost per square foot: $130

No. 44: Minneapolis
Median size: 1,360 square feet
Median value: $273,000
Cost per square foot: $200

No. 45: Detroit
Median size: 1,333 square feet
Median value: $140,000
Cost per square foot: $108

To view the full report, visit: https://www.lendingtree.com/home/mortgage/cities-with-the-biggest-houses-in-america/.


 

45 Largest Cities Ranked by Median House Size

Rank

Metro  

Median Size

(Sq.ft)  

Median Estimated 

Price  

Median Price

(per sq.ft)  

1

Houston

1,952

$196,000

$100

2

Atlanta

1,914

$196,000

$102

3

Washington

1,908

$446,000

$234

4

Dallas

1,862

$217,000

$117

5

Austin, Texas

1,861

$283,000

$152

6

Las Vegas

1,835

$262,000

$143

7

Phoenix

1,832

$255,000

$139

8

Raleigh, N.C.

1,795

$215,000

$120

9

Boston

1,767

$457,000

$259

10

Orlando, Fla.

1,758

$228,000

$130

11

San Diego

1,744

$602,000

$345

12

Nashville, Tenn.

1,731

$236,000

$136

13

Philadelphia

1,728

$244,000

$141

14

Charlotte, N.C.

1,722

$188,000

$109

15

Richmond, Va.

1,716

$224,000

$131

16

Miami

1,711

$326,000

$191

17

San Jose, Calif.

1,711

$1,185,000

$693

18

Virginia Beach, Va.

1,708

$227,000

$133

19

New York

1,704

$427,000

$251

20

San Antonio

1,694

$189,000

$112

21

Riverside, Calif.

1,683

$338,000

$201

22

Denver

1,675

$411,000

$245

23

Indianapolis

1,674

$132,000

$79

24

Memphis, Tenn.

1,673

$127,000

$76

25

Jacksonville, Fla.

1,670

$183,000

$110

26

Sacramento, Calif.

1,661

$393,000

$237

27

San Francisco

1,650

$923,000

$559

28

Seattle

1,650

$477,000

$289

29

Los Angeles

1,618

$647,000

$400

30

Portland, Ore.

1,617

$386,000

$239

31

Cincinnati

1,606

$166,000

$103

32

Oklahoma City

1,576

$141,000

$89

33

Columbus, Ohio

1,572

$183,000

$116

34

Tampa, Fla.

1,545

$202,000

$131

35

Chicago

1,517

$232,000

$153

36

Cleveland

1,513

$138,000

$91

37

Baltimore

1,504

$300,000

$199

38

Louisville, Ky.

1,482

$157,000

$106

39

Providence, R.I.

1,456

$283,000

$194

40

Pittsburgh

1,452

$147,000

$101

41

Kansas City, Mo.

1,428

$171,000

$120

42

St. Louis

1,404

$165,000

$118

43

Milwaukee

1,388

$175,000

$126

44

Minneapolis

1,360

$273,000

$201

45

Detroit

1,333

$140,000

$105

About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network, and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
press@lendingtree.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/lendingtree-reveals-the-cities-with-the-biggest-houses-in-america-300722838.html

SOURCE LendingTree


© PRNewswire 2018
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