Connect with us

Markets

This 3D Map Shows the Price Per Square Foot of U.S. Housing Markets

Published

on

Use the mouse to rotate, pan, or zoom in on the interactive map. (Note: your browser must support WebGL for this to work.)

3D Map Shows the Price Per Square Foot of U.S. Housing Markets

This 3D interactive map comes Max Galka’s great Metrocosm blog. Don’t forget to check out his project, Blueshift.

Where is the most expensive real estate in the United States? It depends on how you look at it.

Using home sale prices and data from the state-level, the answer is Hawaii with a median price of $547,600 per home.

However, at a neighborhood level, the answer could be very different. For example, the most expensive neighborhood by median housing price is Presidio Heights in San Francisco ($7 million+ homes in January 2017), and the most expensive neighborhood for rent is West Village in New York City ($6,030 per month for a 1,000 sq. ft place).

Both of these approaches have significant drawbacks. Using state-level data is too broad, and doesn’t account for any distinction between urban/rural areas. Meanwhile, zooming in on a neighborhood is interesting and thorough, but it may be too granular for most purposes. People have a mental picture of San Francisco as a whole, but fewer will be familiar with the nuances of specific neighborhoods like Presidio Heights, Nob Hill, or the Mission District.

A Common Denominator?

A county-level analysis may be the easiest to understand, and by using average price per square foot we have a more universal denominator. After all, a house bought in Hawaii might be more expensive than a small loft in New York City – but it might also be 5x the size.

The visualization above focuses in on price per square foot at the county-level – and the results are clear: New York, San Francisco, and Aspen (Pitkin County) stand out.

As Max Galka from Metrocosm notes, New York is instantly recognizable:

The highest point in the map is clearly the tall white spike in the east: Manhattan (New York County), where the average price per square foot is $1,397. But the housing values fall off sharply as you move to the outer boroughs. Across the river in Brooklyn (Kings County), the second most costly area of NYC, the price per square foot is only about a third of what it is in Manhattan.

Price per square foot in New York City boroughs

The Bay Area also stands out, thanks to the unprecedented boom in Silicon Valley over the last 15 years. San Francisco leads the pack because of its cultural appeal, but other places in the Valley are also extremely expensive, relative to anywhere else in America:

Price per square foot in The Bay Area

Lastly, it is worth noting that Pitkin County in Colorado is one of the other three most expensive U.S. housing markets using this approach. The largest town in the county is Aspen, a popular ski destination, and the county averages a price per square foot of $841.

Click for Comments

Markets

U.S. Debt Interest Payments Reach $1 Trillion

U.S. debt interest payments have surged past the $1 trillion dollar mark, amid high interest rates and an ever-expanding debt burden.

Published

on

This line chart shows U.S. debt interest payments over modern history.

U.S. Debt Interest Payments Reach $1 Trillion

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The cost of paying for America’s national debt crossed the $1 trillion dollar mark in 2023, driven by high interest rates and a record $34 trillion mountain of debt.

Over the last decade, U.S. debt interest payments have more than doubled amid vast government spending during the pandemic crisis. As debt payments continue to soar, the Congressional Budget Office (CBO) reported that debt servicing costs surpassed defense spending for the first time ever this year.

This graphic shows the sharp rise in U.S. debt payments, based on data from the Federal Reserve.

A $1 Trillion Interest Bill, and Growing

Below, we show how U.S. debt interest payments have risen at a faster pace than at another time in modern history:

DateInterest PaymentsU.S. National Debt
2023$1.0T$34.0T
2022$830B$31.4T
2021$612B$29.6T
2020$518B$27.7T
2019$564B$23.2T
2018$571B$22.0T
2017$493B$20.5T
2016$460B$20.0T
2015$435B$18.9T
2014$442B$18.1T
2013$425B$17.2T
2012$417B$16.4T
2011$433B$15.2T
2010$400B$14.0T
2009$354B$12.3T
2008$380B$10.7T
2007$414B$9.2T
2006$387B$8.7T
2005$355B$8.2T
2004$318B$7.6T
2003$294B$7.0T
2002$298B$6.4T
2001$318B$5.9T
2000$353B$5.7T
1999$353B$5.8T
1998$360B$5.6T
1997$368B$5.5T
1996$362B$5.3T
1995$357B$5.0T
1994$334B$4.8T
1993$311B$4.5T
1992$306B$4.2T
1991$308B$3.8T
1990$298B$3.4T
1989$275B$3.0T
1988$254B$2.7T
1987$240B$2.4T
1986$225B$2.2T
1985$219B$1.9T
1984$205B$1.7T
1983$176B$1.4T
1982$157B$1.2T
1981$142B$1.0T
1980$113B$930.2B
1979$96B$845.1B
1978$84B$789.2B
1977$69B$718.9B
1976$61B$653.5B
1975$55B$576.6B
1974$50B$492.7B
1973$45B$469.1B
1972$39B$448.5B
1971$36B$424.1B
1970$35B$389.2B
1969$30B$368.2B
1968$25B$358.0B
1967$23B$344.7B
1966$21B$329.3B

Interest payments represent seasonally adjusted annual rate at the end of Q4.

At current rates, the U.S. national debt is growing by a remarkable $1 trillion about every 100 days, equal to roughly $3.6 trillion per year.

As the national debt has ballooned, debt payments even exceeded Medicaid outlays in 2023—one of the government’s largest expenditures. On average, the U.S. spent more than $2 billion per day on interest costs last year. Going further, the U.S. government is projected to spend a historic $12.4 trillion on interest payments over the next decade, averaging about $37,100 per American.

Exacerbating matters is that the U.S. is running a steep deficit, which stood at $1.1 trillion for the first six months of fiscal 2024. This has accelerated due to the 43% increase in debt servicing costs along with a $31 billion dollar increase in defense spending from a year earlier. Additionally, a $30 billion increase in funding for the Federal Deposit Insurance Corporation in light of the regional banking crisis last year was a major contributor to the deficit increase.

Overall, the CBO forecasts that roughly 75% of the federal deficit’s increase will be due to interest costs by 2034.

Continue Reading
HIVE Digital Technologies

Subscribe

Popular