How Big Is the Average Family Home?

Question

Accepted Answer

In 1973, the average home size was just over 1,500 square feet. In 2013, only forty years later, the average home size ballooned to 2,679 square feet. Simultaneously, the size of households is falling, meaning that fewer people are inhabiting larger homes. This is evidence that the concept that "bigger is better" has firmly taken root in the American psyche. Since houses are usually the most significant investment that families make and the primary source of their savings, the prevailing logic decrees that the larger the home, the more its value. Imagine a young family looking to purchase their first home presented with two options. The first is a 1,300 square foot home built from solid brick, and the second option is a 2,400 square foot home made from 2x4's and plywood that cost roughly the same amount. In most cases, the family would opt for the larger home believing that it was a better deal, the better home, and the better value for their money.