How much housing you can buy with a million dollars varies based on the city you choose.
The chart below shows the number of square feet of housing that you can buy for U.S. $1,000,000 (based on the median price per square foot in each city).
With a median list price of $666 per square foot, in San Francisco, a million dollars only buys about 1,500 square feet.
On the other end of the spectrum, the median list price in Detroit is just $12 per square foot — which is 55 times cheaper than in San Francisco.
Considering all five boroughs, the median price per square foot in New York City is $424. However, if you are looking just at Manhattan, the price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.
Talk about scarcity!