|
Getting your Trinity Audio player ready...
|
With median home prices on the Midpeninsula well above $1 million, it’s no surprise that buying at that price point is increasingly out of reach — if not impossible. The more revealing question is how much space $1 million actually buys here. The answer: not much.
Nationwide, homes priced between $1 million and $2 million averaged about 2,994 square feet this fall, according to a Mansion Global report of major U.S. metro areas based on data from Realtor.com.That’s roughly four times the space Midpeninsula buyers can expect. Locally, the same budget buys a median of about 699 square feet, or less than the size of an average two-car garage, according to Realtor.com data analyzing median sale prices and home sizes in 10 Peninsula cities and towns in October and November 2025.
Even Honolulu — the U.S. metro where $1 million buys the least amount of space — offers more room. There, buyers get a median of 1,651 square feet, according to the analysis.
In San Jose, California’s priciest major market, $1 million typically buys about 1,688 square feet at roughly $872 per square foot. San Francisco follows with about 1,855 square feet, while Los Angeles comes in just under 2,000 square feet.
On the Midpeninsula, Atherton ranks as the least affordable market. With a median price per square foot of $1,923, $1 million buys just 520 square feet. Menlo Park follows closely at about 571 square feet, though the data reflects sales only from West Menlo Park, which is notably less affordable than other parts of the city.
Redwood City, Mountain View and East Palo Alto were the only Midpeninsula cities with median prices under $1,000 per square foot. East Palo Alto offered the most space on a $1 million budget with about 1,233 square feet, though that number is still far below national norms.
Vacant Mountain View building condemned after 3 people, small fire found insideJanuary 16, 2026 5:15 pm