Re:Alright, amigo, let's build some affordable housing
by Spooky23 on Saturday April 02, 2022 @07:53PM
(#30892750)
Price per square foot is the metric to compare and classify like property in region.
It’s usually the best quick way to determine home valuation or reasonableness of price. Typically the scale will vary by metro area.
To visualize it, you’d need to control for different income tiers and local taxes. In my small city, a good condition average quality existing house is about $150/ft. The same house in a nearby suburb with fancy school district, etc is about $200/ft. That home in Queens, NY would be about $400-500/ft.
In most places, you need to build higher density as 3 decades of subsidized mortgage rates built out all of the usable space. Usually condos cost around 25% less per unit to build than a single/duplex home.
It’s usually the best quick way to determine home valuation or reasonableness of price. Typically the scale will vary by metro area.
To visualize it, you’d need to control for different income tiers and local taxes. In my small city, a good condition average quality existing house is about $150/ft. The same house in a nearby suburb with fancy school district, etc is about $200/ft. That home in Queens, NY would be about $400-500/ft.
In most places, you need to build higher density as 3 decades of subsidized mortgage rates built out all of the usable space. Usually condos cost around 25% less per unit to build than a single/duplex home.