March 20, 2023

Which state has the largest houses? Why are houses getting larger as family size shrinks?

 Thanks to Marketplace Morning Report you can find the answer to which state has the largest houses. 

"Even as household sizes have declined, the average home grew from 909 square feet in 1949 to 2,480 in 2021."

"But what does more space get you? Many assume that more space leads to happiness. The Organization for Economic Cooperation and Development, for example, measures the number of rooms per person as part of its indicator for quality of life. But there’s no direct relationship between more space and wellbeing, according to a British study."

"The bigger the home, the greater likelihood for wasted space, which, in the end, is wasted money."   "When asked what people waste their money on, the first thing that Nobel Prize winning economist Robert Shiller named was bigger homes." 

So, which state has the largest homes? And find lots more fascinating data about American homes. See:

The 2022 American Home Size Index

Key Findings

  • Fast-growing tech hubs in the Rocky Mountains have the largest homes. In Colorado Springs, the average home is 2,760 square feet – the largest of any major U.S. city.
  • Areas with newer housing stock have larger homes. In Utah, the state with the largest homes, the typical home is 33 years old – 11 years newer than the U.S. median.
  • High-density coastal cities have the most expensive real estate. In New York City, there are 28,182 people per square mile, and homes cost $1,519.57 per square foot on average – each the highest such figure of any major U.S. city.
  • Expensive real estate may be driving people to look for cheaper homes elsewhere. From 2020 to 2021, the population of New York City fell 3.5% – the second largest decline of any major U.S. city.
 

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