It comes as no surprise that tech and finance hub San Francisco has some of the most expensive real estate in the nation. With the average cost of real estate clocking in at $722 per square foot, San Francisco ranks second only to Manhattan in terms of expense. Fortunately for San Francisco residents, the city also offers the third highest average median household income in the country at $85,000.
Los Angeles real estate, which clocks in at an average of $343 per square foot, ranks second most expensive in the Southwest, though average household income falls far below that of San Francisco’s at $50,544. Interestingly, Denver has seen massive growth, as well as rapidly rising price-per-square-foot real estate costs. Job creation and a well-secured spot on the nation’s “Best Places to Live” lists have contributed to an influx of thousands of new transplants to the city.
See below for the least and most affordable cities in the Southwest region.
Click here to see how the Southwest region compares to other regions and the rest of the country.
Most Expensive Cities to Buy Real Estate (median price per square foot)
- San Francisco, CA – $722
- Los Angeles, CA – $343
- Denver, CO – $233
- Santa Fe, NM – $200
- Salt Lake City, UT – $186
Most Affordable Cities to Buy Real Estate (median price per square foot)
- Ogden, UT – $100
- Las Cruces, NM – $101
- Las Vegas, NV – $101
- Tucson, AZ – $103
- Yuma, AZ – $104
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