A small, elegant house can be yours in any major metropolitan area in the United States, according to a new study.
But how do you get one in a neighborhood that’s struggling to keep up with demand?
The answer, according in a new report by real estate analytics firm LittleFairs, is to invest in a lot.
In the study, which surveyed more than 1,000 homes in the U.S. for value, a lot is defined as a place that’s home to more than 200,000 people.
That means the study’s median lot in Los Angeles is a whopping 3,769 square feet, or about the size of the White House.
The median lot size in Dallas is 3,096 square feet.
And in Philadelphia, the median lot is 1,932 square feet and the median home size is 2,957 square feet in that city.
The average house in those two cities is 3.6 square miles in size.
That’s about half of what a lot in the median metro area in California is.
But, LittleFares says, it’s not all about size.
In the study it also included median home sizes, which is where a lot actually matters.
A lot with two bedrooms or fewer is the most desirable, but a lot with three bedrooms or more is the least desirable.
The study found that median home prices in Los Angelenos are nearly 10 percent higher than those in San Francisco.
And median home values in New York are nearly 20 percent higher.
A lot in a suburban neighborhood is about twice the size as a lot that is in a big city.
The average home size in a suburb in the study is 3 acres or less.
And a lot size of about 3,000 square feet or less in New Jersey is also about 20 percent more expensive than a lot of 3,500 square feet on average in California.
That’s because a lot has a higher price tag because it is more expensive to build.
And, the study found, because it has less demand.
That is, because of the lack of people buying homes.
The number of people who are currently buying homes in California dropped by 9 percent between 2007 and 2015, while the number of homes that are sold decreased by 23 percent.
A lack of homes in big cities has a huge impact on the price of a lot, LittleFsays study found.
In San Francisco, the average house on average cost $8,000 to build, which equates to about a third of the median price of the typical home in the Bay Area.
And that’s a lot because a typical home built in San Jose costs $10,000, which equals about three quarters of the average home price in the San Francisco Bay Area, the report found.
In some cities, a small, inexpensive home is the only way to get a lot or an even larger home.
That includes the suburbs of San Jose, Oakland and San Diego, the areas where the median house size is the highest.
For those cities, the number-one reason people are buying homes is because they can afford them.
The areas with the most affordable homes in those cities are the ones that have lots.
For those areas, there are more opportunities for small lots.
And those opportunities are also the areas that are growing fastest in the region, Littlefsays found.
So, the growth of those cities is also driving up the price, Littlefays said.
And the fastest-growing suburbs of the San Jose and Oakland areas, LittleFSays found, are home to the fastest growth in homes.
But, those growths are happening in places that are still recovering from the recession.