Price Per Square Foot Calculator
This price per square foot calculator works three ways. Enter the area and a total price to get the price per square foot, enter the area and a rate to get the total cost, or enter an annual rate per square foot to get the monthly rent, the annual rent and the monthly rate per square foot.
How to calculate price per square foot
Divide the total price by the square footage. A $480,000 house with 2,400 square feet is $200 per square foot. If you still need the area, work out the total square footage first.
Price per square foot = total price ÷ square feet
The calculator's three modes, each with its own example:
$412,000 ÷ 1,600 sq ft
935 sq ft × $7.50 per sq ft
1,100 sq ft × $24 a year ÷ 12
For an apartment, divide the monthly rent by the unit's square footage, and check the unit against average apartment size.
Average price per square foot
New homes cost about $162 per square foot to build in 2024, according to NAHB's Construction Cost Survey. That's construction alone, on an average finished home of 2,647 square feet that sold for $665,298, so construction was 64.4 percent of the price and the lot, financing and builder margin made up the rest.
Prices depend heavily on where you are. NAHB's analysis of Census data for homes started in 2024 puts the national median at $153 per square foot for homes built for sale (lot value excluded) and $166 for custom homes.
Compare a listing with homes in the same market, not with a national number.
Why one house can have two prices per square foot
The price per square foot changes with the area you divide by, and a finished basement is the usual cause.
Appraisers measure under ANSI Z765, and Fannie Mae's summary of the standard requires any space partly or fully below grade to be reported as below-grade area, apart from the main total. Check whether a basement counts before comparing two listings.
Garages, porches and attics cause the same mismatch; what counts as square footage goes through each one, the house square footage calculator adds up a home floor by floor, and how to calculate square footage shows the method for any shape.
Cost per square foot for materials
Price the area you buy, not the area you measured. For an 850 square foot hardwood floor at $7.50 per square foot with 10 percent waste:
What the floor alone costs
What you actually pay
What to price and the waste each calculator adds
| Job | Area to price | Waste the calculator uses |
|---|---|---|
| Flooring | Floor area | 5% carpet, 8% laminate and vinyl plank, 10% hardwood, 12% tile |
| Tile | Floor or wall area | 10% to start, adjustable |
| Grout and thinset | Tile size and joint width, not just area | 10% |
| Paint | Wall area × coats | Coverage per gallon instead of waste |
| Drywall | Wall area minus openings | 10% |
| Concrete block | Wall area × 1.125 blocks | 5% |
| Roofing | Roof surface, not footprint | 10% to start, adjustable |
| Countertops | Countertop area | Fabricators add 10% to 20% |
| Decking | Deck area, then board length | 10% |
A rate quoted "installed" includes labor, so two quotes only compare if they cover the same work. For paint, the painting cost calculator splits a quote into paint, supplies and labor.
Commercial rent per square foot
Commercial rates are often quoted per square foot per year, like the GSA lease below, so monthly rent is the area times the rate, divided by 12. You're billed on rentable square feet, which adds a share of the building's common areas to the space you occupy.
- Turn usable area into rentable. With a 10 percent common area factor, 1,000 usable square feet is 1,000 × 1.10 = 1,100 rentable.
- Multiply by the annual rate. 1,100 × $24 = $26,400 a year.
- Divide by 12 for the month. $26,400 ÷ 12 = $2,200.
Real lease: a 2010 GSA office lease covers 2,250 rentable square feet holding 1,815 square feet of office area, a 24 percent common area factor. Its $43,371.76 annual rent is $19.28 per rentable square foot but $23.90 per square foot of space the tenant actually uses.
Ask whether a rate includes operating costs before you compare two spaces. Commercial square footage explains rentable and usable area, and conference room size prices a meeting room with the load factor applied.
Frequently asked questions
How do you calculate price per square foot?
Divide the total price by the area in square feet. A $412,000 house with 1,600 square feet is $412,000 ÷ 1,600, or $257.50 per square foot. Use the same kind of area for every property you compare.
How do you calculate cost per square foot for a project?
Divide the total cost by the square footage, or multiply the area by a quoted rate to get the total. For materials, use the area after waste: 850 square feet plus 10 percent is 935.
What is the average cost per square foot to build a house?
About $162 per square foot for construction alone in NAHB's 2024 survey, on an average home of 2,647 square feet. Land, financing and builder margin come on top.
How do I calculate rent per square foot?
For commercial space, multiply the rentable square feet by the annual rate and divide by 12: 1,100 square feet at $24 is $2,200 a month. For an apartment, divide the monthly rent by the square footage.
Should I include the basement in price per square foot?
Not in the same figure as the above-grade area. ANSI Z765 reports below-grade space separately, and adding it in pulls the price per square foot down.