New Report Finds You’ll Never Own a Home in San Francisco

| March 11, 2014 | 13 Comments
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Photo: Business Insider

Photo: Business Insider/Andy Kiersz, data from Movoto and Zillow

Do you dream of owning a cute nest in San Francisco that’s big enough for the family you’re still unsure you want or at least a puppy? Maybe this dream pad of yours also has a hammock in the back yard and a front porch where you’ll drink lemonade? Yeah, that’s not going to happen, according to Business Insider. They compiled information on how much space $1 million will get you in each of the major U.S. cities. San Francisco leads the pack and it wasn’t even close. You can get 500+ more square feet in second place finisher Boston. Check out analysis of the results and how much space your money will fetch overseas below. And in case this report bummed you out, this will probably make you feel better.

How much housing you can buy with a million dollars very much depends on what city you are looking to buy in. According to Knight Frank data cited by CNBC’s Robert Frank, a million dollars goes a lot further in Cape Town than it would in Monaco. But what about in the U.S.?

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About the Author ()

Emmanuel Hapsis studied creative writing at University of Maryland, College Park and went on to receive his MFA in the field from California College of the Arts. After a few years of odd jobs, he landed at KQED, where he worked his way up from an intern to being the lead producer of a literature podcast and then the creator and editor of KQED Pop. In his free time, he teaches yoga and sings his heart out at karaoke.
  • Christopher Riess

    Berkeley. Screw Oakland too.

  • Johnny Chen

    Please tell me where I can get a 2400 sqft apartment in New York for $1m and I will gladly buy it. And by new york I mean manhattan below Harlem.

    • Pinaki

      What, 10% of housing units in NYC are in Manhattan south of Harlem?

    • moemoe731

      What’s wrong with Harlem?

    • Rachel Roth

      Please tell me where I can get away from sad little snots like Johnny Chen and I will gladly go there.

    • runton

      New York City is much bigger than just half of Manhattan. It would make no sense for all of San Fran, Boston, and DC to be included but not all of New York.

  • Astroboy888

    DETROIT! 83333sq ft. Gonna build myself a castle with moats and everything …

    • Steve Brown

      you’ll need the moats if you build there

      • Astroboy888

        Touché …

  • RW

    There is a very good reason why San Francisco is at the top of this list: NIMBYism! Anti-growth policies combined with a white-hot job boom results in rapid displacement and gentrification. It’s not just SF’s problem or doing either. Every city in the bay area contributes to the same outcome by trying to preserve their city like a historical diorama frozen to their liking while simultaneously stimulating jobs growth. The bottom of the buyer and renter markets end up being pushed out of the region entirely, often as accomplices to their own demise, and this will continue to get worse into the foreseeable future. This is why:

  • moemoe731

    Michigan passed the “rape insurance” bill today. This. This is why it costs more to live in SF than in Detroit.

  • Sam Dogen

    Why not just live in a 1,000 sqft place in SF then?

    Financial Samurai

  • Deirdre1

    My suburbanite family always make comments about my tiny 670 sq, ft condo. I am paying for my location.