Price per square foot (PSF) is a standard metric used in real estate to compare property values regardless of size. It helps buyers, sellers, and investors make apples-to-apples comparisons across different properties.

How to Calculate Price Per Square Foot

Price per Square Foot = Total Price ÷ Square Footage

Average Price Per Square Foot by Property Type

Property Type	National Average PSF	Range
Single-Family Home	$150	$80 - $500
Condominium	$250	$150 - $800
Commercial Office	$200	$100 - $600
Retail Space	$180	$80 - $400
Industrial/Warehouse	$90	$40 - $150

Factors Affecting Price Per Square Foot

Location: Urban areas typically have higher PSF than rural areas
Property Condition: Well-maintained properties command higher prices
Market Conditions: Supply and demand affect local PSF rates
Property Features: Amenities, views, and upgrades increase value
Economic Factors: Interest rates and economic conditions impact pricing

Using Price Per Square Foot for Analysis

Comparable Sales: Compare similar properties in the same area
Market Trends: Track how PSF changes over time
Investment Analysis: Evaluate rental property potential
Appraisal Support: Help determine fair market value
Budget Planning: Estimate costs for different property sizes

Limitations of Price Per Square Foot

While PSF is a useful metric, it doesn't tell the whole story. Consider:

Property condition and age
Location desirability
Recent renovations or updates
Comparable property features
Market timing and conditions

Tip: When using PSF for comparisons, ensure you're comparing similar properties in the same neighborhood. Look at recent sales data (last 6 months) and adjust for differences in property condition, size, and features.

Price Per Square Foot Calculator

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