property nerds · square feetfrom the mlsclosed sales 2012–2026by the boyenga team at compass
What $1 million buys, in square feet
At Silicon Valley’s median price per square foot, $1 million bought about 2,620 square feet in 2012. In the last 12 months it bought about 1,010, 61% less floor for the same money. Here is every city, at five budgets.
- $1M in 20122,620 sq ftat the median of $382 per square foot
- $1M now1,010 sq ftat $992 per square foot, October 2025 – September 2026
- $2M now2,020 sq ftless than $1M bought in 2012
your budget
Every city at your budget
Choose a budget. Each square is drawn to scale: the outline is the floor area that budget bought in 2012, the orange fill is what it buys at the last 12 months’ median price per square foot. Silicon Valley overall: about 1,010 square feet per $1M now.
- Silicon Valley1,010 sq ft2,620 in 201215,237 sales (12 mo)
- Gilroy1,910 sq ft4,980 in 2012394 sales (12 mo)
- Morgan Hill1,570 sq ft3,950 in 2012458 sales (12 mo)
- Daly City1,290 sq ft3,010 in 2012423 sales (12 mo)
- East Palo Alto1,270 sq ft3,970 in 201292 sales (12 mo)
- Milpitas1,240 sq ft3,150 in 2012350 sales (12 mo)
- South San Francisco1,190 sq ft2,880 in 2012296 sales (12 mo)
- San Jose1,150 sq ft3,220 in 20125,387 sales (12 mo)
- San Bruno1,110 sq ft2,910 in 2012232 sales (12 mo)
- Foster City1,100 sq ft2,230 in 2012222 sales (12 mo)
- Campbell930 sq ft2,550 in 2012272 sales (12 mo)
- Santa Clara930 sq ft2,580 in 2012670 sales (12 mo)
- Los Gatos910 sq ft1,990 in 2012465 sales (12 mo)
- Millbrae910 sq ft1,920 in 2012148 sales (12 mo)
- San Francisco910 sq ft940 in 20225,002 sales (12 mo)
- Mountain View900 sq ft1,930 in 2012511 sales (12 mo)
- San Mateo900 sq ft2,190 in 2012813 sales (12 mo)
- Redwood City840 sq ft2,090 in 2012612 sales (12 mo)
- Sunnyvale810 sq ft2,200 in 2012859 sales (12 mo)
- Belmont800 sq ft1,990 in 2012196 sales (12 mo)
- San Carlos770 sq ft1,860 in 2012327 sales (12 mo)
- Woodside710 sq ft1,560 in 201272 sales (12 mo)
- Burlingame690 sq ft1,630 in 2012239 sales (12 mo)
- Portola Valley690 sq ft1,220 in 201279 sales (12 mo)
- Cupertino670 sq ft1,660 in 2012278 sales (12 mo)
- Monte Sereno670 sq ft1,560 in 201240 sales (12 mo)
- Saratoga670 sq ft1,630 in 2012279 sales (12 mo)
- Los Altos Hills660 sq ft1,310 in 201297 sales (12 mo)
- Menlo Park630 sq ft1,370 in 2012369 sales (12 mo)
- Hillsborough620 sq ft1,410 in 2012129 sales (12 mo)
- Los Altos530 sq ft1,320 in 2012327 sales (12 mo)
- Palo Alto510 sq ft1,130 in 2012528 sales (12 mo)
- Atherton450 sq ft1,110 in 201273 sales (12 mo)
what $1M bought in 2012 (2022 for San Francisco)what it buys nowsquares share one scale; area is drawn to size
At each city’s median price per square foot. Cities with fewer than 100 sales a year swing more; the sales count is on each card.
year by year
Square feet per $1 million, every year
Square feet per $1 million at the median price per square foot, year by year.
| year | Silicon Valley | Santa Clara County | San Mateo County |
|---|---|---|---|
| 2012 | 2,620 sq ft $382/sq ft | 2,820 sq ft $355/sq ft | 2,110 sq ft $473/sq ft |
| 2013 | 2,140 sq ft $468/sq ft | 2,290 sq ft $437/sq ft | 1,750 sq ft $571/sq ft |
| 2014 | 1,930 sq ft $518/sq ft | 2,090 sq ft $479/sq ft | 1,550 sq ft $646/sq ft |
| 2015 | 1,690 sq ft $592/sq ft | 1,840 sq ft $544/sq ft | 1,360 sq ft $735/sq ft |
| 2016 | 1,580 sq ft $634/sq ft | 1,710 sq ft $584/sq ft | 1,280 sq ft $784/sq ft |
| 2017 | 1,430 sq ft $700/sq ft | 1,550 sq ft $647/sq ft | 1,150 sq ft $871/sq ft |
| 2018 | 1,230 sq ft $814/sq ft | 1,320 sq ft $758/sq ft | 1,040 sq ft $961/sq ft |
| 2019 | 1,300 sq ft $770/sq ft | 1,410 sq ft $708/sq ft | 1,070 sq ft $932/sq ft |
| 2020 | 1,250 sq ft $798/sq ft | 1,360 sq ft $738/sq ft | 1,050 sq ft $952/sq ft |
| 2021 | 1,130 sq ft $888/sq ft | 1,190 sq ft $837/sq ft | 960 sq ft $1,042/sq ft |
| 2022 | 1,060 sq ft $943/sq ft | 1,110 sq ft $903/sq ft | 950 sq ft $1,049/sq ft |
| 2023 | 1,070 sq ft $936/sq ft | 1,100 sq ft $905/sq ft | 980 sq ft $1,020/sq ft |
| 2024 | 1,010 sq ft $994/sq ft | 1,030 sq ft $971/sq ft | 940 sq ft $1,062/sq ft |
| 2025 | 1,000 sq ft $997/sq ft | 1,030 sq ft $974/sq ft | 940 sq ft $1,063/sq ft |
| 2026* | 1,000 sq ft $999/sq ft | 1,040 sq ft $960/sq ft | 900 sq ft $1,112/sq ft |
| last 12 months | 1,010 sq ft $992/sq ft | 1,040 sq ft $957/sq ft | 910 sq ft $1,095/sq ft |
* = January–September 2026. Last 12 months = October 2025 – September 2026.
every city
Every city, 2012 against now
Every city, 2012 against the last 12 months (October 2025 – September 2026), at $1 million.
| city | 2012 | now | change | $ per sq ft now | sales, 12 mo |
|---|---|---|---|---|---|
| Gilroy | 4,980 | 1,910 | -62% | $524 | 394 |
| Morgan Hill | 3,950 | 1,570 | -60% | $635 | 458 |
| Daly City | 3,010 | 1,290 | -57% | $777 | 423 |
| East Palo Alto | 3,970 | 1,270 | -68% | $790 | 92 |
| Milpitas | 3,150 | 1,240 | -61% | $805 | 350 |
| South San Francisco | 2,880 | 1,190 | -59% | $838 | 296 |
| San Jose | 3,220 | 1,150 | -64% | $873 | 5,387 |
| San Bruno | 2,910 | 1,110 | -62% | $903 | 232 |
| Foster City | 2,230 | 1,100 | -51% | $906 | 222 |
| Campbell | 2,550 | 930 | -64% | $1,080 | 272 |
| Santa Clara | 2,580 | 930 | -64% | $1,075 | 670 |
| Los Gatos | 1,990 | 910 | -54% | $1,103 | 465 |
| Millbrae | 1,920 | 910 | -53% | $1,099 | 148 |
| San Francisco (2022) | 940 | 910 | -3% | $1,095 | 5,002 |
| Mountain View | 1,930 | 900 | -53% | $1,109 | 511 |
| San Mateo | 2,190 | 900 | -59% | $1,106 | 813 |
| Redwood City | 2,090 | 840 | -60% | $1,191 | 612 |
| Sunnyvale | 2,200 | 810 | -63% | $1,230 | 859 |
| Belmont | 1,990 | 800 | -60% | $1,252 | 196 |
| San Carlos | 1,860 | 770 | -59% | $1,299 | 327 |
| Woodside | 1,560 | 710 | -54% | $1,410 | 72 |
| Burlingame | 1,630 | 690 | -58% | $1,456 | 239 |
| Portola Valley | 1,220 | 690 | -43% | $1,442 | 79 |
| Cupertino | 1,660 | 670 | -60% | $1,496 | 278 |
| Monte Sereno | 1,560 | 670 | -57% | $1,482 | 40 |
| Saratoga | 1,630 | 670 | -59% | $1,490 | 279 |
| Los Altos Hills | 1,310 | 660 | -50% | $1,518 | 97 |
| Menlo Park | 1,370 | 630 | -54% | $1,579 | 369 |
| Hillsborough | 1,410 | 620 | -56% | $1,619 | 129 |
| Los Altos | 1,320 | 530 | -60% | $1,878 | 327 |
| Palo Alto | 1,130 | 510 | -55% | $1,945 | 528 |
| Atherton | 1,110 | 450 | -59% | $2,219 | 73 |
Square feet per $1 million at the median price per square foot. San Francisco is compared with 2022, the first full year we report. Fewer than 100 sales in the last 12 months: East Palo Alto, Woodside, Portola Valley, Monte Sereno, Los Altos Hills, Atherton.
the method
How the square feet are figured
How the square feet are figured, so you can check them.
- Data
- Closed sales reported to the MLS in the cities we cover, January 2012 to September 2026 (San Francisco from 2022): houses, condos and townhomes with a recorded size, repeat records removed.
- The math
- Square feet = budget ÷ the median price per square foot of the year’s closed sales (or the last 12 months, October 2025 – September 2026), rounded to the nearest 10 square feet.
- What it means
- The floor area a budget buys at the typical price per square foot. It isn’t the size of a typical home at that price: smaller homes and condos usually cost more per square foot, and big lots and views add to the price.
- Dollars, not adjusted
- Nominal dollars. A 2012 dollar went further for many reasons besides home prices.
- Small towns
- Medians from fewer than 100 sales a year move a lot; the sales count is shown next to every city.
- What it isn’t
- Not an appraisal, a forecast or a home’s value. For a specific home, the closest recent sales matter more.
the data
Download the square feet
Download square feet per $1 million for every area and year, plus the last 12 months.
Boyenga Team. “What $1 Million Buys: Square Feet by City in Silicon Valley, 2012–2026,” from closed MLS sales, October 2026. https://www.boyengateam.com/what-1-million-buys
What each column means
area- Silicon Valley, a county region, San Francisco or a city.
period- A year (2026 = January–September) or 2025-10..2026-09 for the last 12 months.
sales- Closed sales in the period, repeat records removed.
median_price_per_sqft- Median closing price ÷ living area, in dollars.
sqft_per_1m- 1,000,000 ÷ median_price_per_sqft, rounded to 10 square feet.
questions
Questions we hear
What does $1 million buy in Silicon Valley?
About 1,010 square feet at the median price per square foot of the last 12 months ($992, from 15,237 sales). In 2012, when the median was $382, the same $1M bought about 2,620 square feet.
What does $1.5 million or $2 million buy?
At the same median, about 1,510 square feet for $1.5M and about 2,020 for $2M. The budget buttons show every city.
Where does $1 million buy the most space?
Among the 25 cities with at least 100 sales in the last 12 months: Gilroy (about 1,910 sq ft), Morgan Hill (about 1,570 sq ft) and Daly City (about 1,290 sq ft).
Where does it buy the least?
Among the same 25 cities: Palo Alto (about 510 sq ft), Los Altos (about 530 sq ft) and Hillsborough (about 620 sq ft). Atherton, with fewer sales, was lower still. These are medians across all homes that sold, so a city’s smaller or newer homes may run higher per square foot.
How much less does $1 million buy than in 2012?
61% less floor area across Silicon Valley. In San Jose, about 1,150 square feet now against 3,220 in 2012; in Sunnyvale 810 against 2,200; in Palo Alto 510 against 1,130.
Is this the size of a $1 million home?
Not exactly. It’s the floor area at the typical price per square foot. Condos and smaller homes usually cost more per square foot, and land, location and condition change the price of any one home.
Why price per square foot?
It lets cities with different home sizes be compared on one scale. It’s a rough guide; a home’s value comes from the closest matching sales.
Where does the data come from?
From closed sales reported to the MLS, read through the IDX feeds that power our home search, with repeat records removed. Homes sold without an MLS listing aren’t included.
Can I download the data?
Yes. The data section has a CSV with every area and year and the last 12 months.
more to learn
Go deeper
- Home Price HistoryEvery city’s median price and price per square foot since 2012.
- The $1M LineHow the share of sales under $1M, $2M and more moved since 2012.
- Price LadderEntry, median and top-end prices by city since 2012.
- Then & Now CalculatorYour purchase year and price, at the city’s pace.
- Budget LabWhat your budget buys today, with live listings.
- Bedroom MathWhat each bedroom costs, city by city.
- How Much Over AskingHow many dollars over list homes sold for, by city and price.
- City Match-UpTwo cities side by side.
- Data LibraryEvery dataset in one catalog, with methods, downloads and citations.
Based on closed sales reported to the MLS through our IDX feeds, read in October 2026. Shown as reported and not guaranteed; repeat records are removed. Square feet describe past sales at the median, not any single home or a forecast.
talk to a property nerd
What would your budget buy, block by block?
We’ll pull the recent sales at your budget in the neighborhoods you like, with the square footage, lot and condition behind each price. Commissions are negotiable, and we offer bundled services, so ask us what’s included.
