Your home is worth roughly what similar nearby homes have recently sold for, adjusted for differences in size, condition and features. Price per square foot from recent local sales gives a quick estimate; an agent’s comparative market analysis or an appraisal gives a more precise one. Online estimates are a starting point, often off by several percent.
Quick estimate: price per square foot
Multiply your home’s finished square footage by the recent median price per square foot in your ZIP code. A 1,800-square-foot home where homes sell for $250 per square foot suggests about $450,000. Adjust up or down for condition, updates, lot size and location within the ZIP.
Try it: Home value estimatorEstimate your home’s value from recent local sales and price per square foot, with a range rather than a single number.See recent price per square foot and price trends on your ZIP code’s market page.
Better estimate: comparable sales
Look for three to six homes that sold within the past few months, nearby, with similar size, age, bedrooms, bathrooms and lot. Note how each differs from yours and adjust: a finished basement, a renovated kitchen, a garage or a busy street can each move value by thousands of dollars.
Most accurate: an appraisal or agent analysis
- Comparative market analysis (CMA): local agents will prepare one for free if you’re thinking of selling.
- Appraisal: a licensed appraiser’s formal opinion, typically a few hundred dollars, and what lenders use.
Why you might need a value
- Removing PMI based on current value; see how to remove PMI.
- Refinancing or a HELOC; see cash-out refinance vs. HELOC.
- Appealing your property tax assessment; see how to appeal.
- Deciding whether to sell and how much equity you’d have; see buying before you sell.
What improves value most
Condition and curb appeal count more than most upgrades. Kitchen and bathroom updates, fresh paint, new flooring and fixing deferred maintenance tend to recover more of their cost than high-end additions. Track your market’s direction on its market page: values move with local competition.
Common questions
How accurate are online home value estimates?
They’re a starting point and are often off by several percent, more for unusual homes.
What’s the quickest way to estimate my home’s value?
Multiply your square footage by the recent median price per square foot in your ZIP code, then adjust for condition and features.
How much does an appraisal cost?
Typically a few hundred dollars for a single-family home.
Updated October 2026. Educational content. OfferBacked is not currently a lender and doesn’t issue pre-approvals or loans.