The median home value across the U.S. is $215,600, according to Zillow. In many places, that can buy thousands of square feet worth of space, while in others, it only amounts to a few hundred.

Real estate site PropertyShark compared home values across the U.S. to see how far $200,000 goes in various locations. To calculate the median price per square foot in each city, the company divided the median sale price by the median home size, using data from the U.S. Census Bureau and PropertyShark's own listings.

For anyone aiming to maximize their budget, the South holds some of the best deals, with Atlanta, Austin, Texas, and Charlotte, North Carolina, all offering over 1,000 square feet of space for the money. Although Atlanta is one of the more expensive southern cities, the study notes that it's also "the most vibrant when it comes to entertainment."

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