South of Market is a historical San Francisco downtown district with museums, a lively night life and a preferable mix of loft structures and high-rise high-end condos.
It likewise takes place to be the most pricey community in the U.S., as determined by cost per square foot, according to a brand-new analysis of December 2023 home listings by online realty websiteHomes com.
The expense per square foot in South of Market– likewise referred to as SoMa– is $5,415 That’s around 2,000% greater than the total U.S. average of $244
Here are the 15 most pricey U.S. communities, ranked by cost per square foot:
- South of Market, San Francisco: $5,415
- Northwest Auburn, Auburn, California: $4,416
- Old Town Carpinteria, Carpinteria, California: $ 4,129
- Downtown Bellevue, Bellevue, Washington: $ 3,619
- Port Royal, Naples, Florida: $3,375
- Aqualane Shores, Naples, Florida: $ 3,132
- Stinson Beach, California: $2,988
- Star, Palm & & Hibiscus Islands, Miami Beach, Florida: $ 2,861
- Crystal Cove, Newport Beach, California: $ 2,771
- Casa del Lago, Palm Beach, Florida: $2,754
- West Village, New York City: $ 2,680
- Metropolitan Hill, New York City: $2,537
- Fisher Island, Miami: $2,511
- Hudson Square, New York City: $ 2,401
- Jupiter Island, Florida: $2,394
A downtown San Francisco community ranking initially most likely isn’t unexpected, as the city has a few of the greatest home rates in the nation. This is mostly due to a deficiency of land and a a great deal of extremely paid experts who reside in the city, which has actually increased home rates. The typical home cost in San Francisco is $1,180,000, perHomes com information.
Just over 120 miles away is Northwest Auburn, California, the second-highest priced U.S. community at $4,416 per square foot.
Nestled in the Sierra Nevada foothills, Auburn is a historical Gold Rush- period town within an affordable travelling range to Sacramento, making it a preferable location to live, particularly for those who delight in outside activities like treking or kayaking.
The Old Town community of the beachside California town of Carpinteria can be found in 3rd in the rankings, with an expense per square foot of $4,129 Surrounded by mountains, area is restricted in Carpinteria, which has actually assisted to keep home rates high. Homes in the historical Old Town district have a typical expense of $905,500, perHomes com.
In contrast, the Homewood North community in Pittsburgh ranks last among the 20,000 communities analyzed for the research study, with homes costing $29 per square foot. An financially depressed location of the city, Homewood North has a decreasing population.
The rankings are based upon typical cost per square foot information for U.S. homes utilizingHomes com listing information. Neighborhoods without a minimum of 10 sales in the previous 12 months were not consisted of. Five states were left out due to absence of information also: Montana, South Dakota, Wyoming, North Dakota and Virginia.
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