Price Per Square Foot Calculator

How to Calculate Price Per Square Foot

Price per square foot is a crucial metric in real estate that helps compare properties of different sizes. This guide will walk you through the process of calculating and interpreting price per square foot.

Price Per Square Foot Formula

The formula to calculate Price Per Square Foot is:

$$PricePerSquareFoot = \frac{TotalPrice}{TotalArea}$$

Where:

• $$PricePerSquareFoot$$ is the cost per square foot (or other unit of area)
• $$TotalPrice$$ is the total price of the property
• $$TotalArea$$ is the total area in square feet (or other unit)

Calculation Steps

1. Determine the total price of the property
2. Measure or obtain the total area of the property
3. Divide the total price by the total area
4. The result is the price per square foot (or other unit)

Example Calculation

Let's calculate the price per square foot for a property with the following details:

• Total Price: $300,000
• Total Area: 1,500 square feet

Step 1: Input the Values

$$TotalPrice = $300,000$$

$$TotalArea = 1,500 sq ft$$

Step 2: Perform the Calculation

$$PricePerSquareFoot = \frac{300,000}{1,500}$$

$$PricePerSquareFoot = 200$$

Step 3: Interpret the Result

The Price Per Square Foot for this property is $200. This means that each square foot of the property costs $200.

Visual Representation

This bar chart illustrates the relationship between the total price of the property and the price per square foot, visually representing how the price per square foot is derived from the total price.