When comparing the cost of property purchases or rentals, price per square foot can often prove a useful metric to aid your decision-making process. Our average price per square foot for Pages Avenue stands at (250+230+220+180) ÷ 4 = $220. Let's say, for example, that there are 4 properties sold on Pages Avenue, all of a similar size with one in less-good condition: To do this, simply add together the square foot cost of each property in the neighbourhoodĪnd then divide it by the number of properties. If you want to get an overview of neighborhood values, one good way to do this is by working out the average price per square foot in that given area. Rent per square foot = monthly rent ÷ floor space in ft² Advertisement Calculating the average price per square foot
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