Housely
The crazy thing abut the real estate market is how wildly prices fluctuate around the nation. The differences are so massive that you can’t reasonably expect that what your home buying budget will get you in one city will buy you the same thing in another. The differences become even more apparent when you move up in price range.
Whereas $500,000 in some parts of the country will get you a nice piece of land with a five bedroom house, in others it will barely allow you to snag a decent condo with one bedroom and a parking space. To see just what $500,000 buys you around the U.S., cities with populations of at least 650,000 were compared and each location on this list is within the top 25 most populous in the country. Also, only residential properties were considered and foreclosures were taken out of the mix. Here’s what you can get for $500,000 in ten major cities.
1. San Antonio, TX – 5 beds, 4 baths 3,950 sq. ft.
http://www.zillow.com/homedetails/22015-Roan-Blf-San-Antonio-TX-78259/69647334_zpid/
Lot size: 0.8 acres
This hill country gem is located in San Antonio and is big as far as houses in the state go. It contains five bedrooms and has a ton of amenities that make it more like a mini-resort than the typical house. Along with huge bathrooms it has an over-sized shower with two shower heads, a jetted soaking tub, luxurious walk-in closet, and a kitchen that looks like something off a set from a celebrity cooking show. The attached garage hosts enough space for three cars and is 685 square feet in size, and the entire property is surrounded by a gated entry.
2. San Diego, CA – 3 beds, 2 baths 1,071 sq. ft.
http://www.zillow.com/homedetails/3622-37th-St-San-Diego-CA-92105/16960181_zpid/
Lot size: 7,000 sq. ft.
California is known for its sky high real estate prices, and in the state what $500,000 buys you is typically much less than you’d find in a place like Texas. With that amount of money you could get this modestly sized three bedroom home on a small lot. It doesn’t look bad at all, and the painted front door is a nice touch. However, it’s not in the best area and there’s not much room to spread out.
3. Jacksonville, FL – 4 beds, 4 baths, 4,207 sq. ft.
http://www.zillow.com/homedetails/11232-Scott-Mill-Rd-Jacksonville-FL-32223/44504835_zpid/
Lot size: 1.45 acres
Florida’s real estate prices vary quite a bit, and cities like Miami command huge prices for even the tiniest condos. In Jacksonville, however, you can get this lovely home with more than 4,200 squae feet. The exterior is refined and definitely stands out, and in the back is a sprawling yard with an in-ground pool. There’s tons of character in this property, and considering the fact that it sits on nearly 1.5 acres of land the price isn’t bad at all.
4. Phoenix, AZ – 4 beds, 2.5 baths, 2,758 sq. ft.
http://www.zillow.com/homedetails/1644-W-Amberwood-Dr-Phoenix-AZ-85045/8284801_zpid/
Lot size: 0.26 acres
You can’t get much land in Phoenix for $500,000, but this home is beautiful nonetheless. It has just over 2,750 square feet of space and four bedrooms, plus it flaunts a stately exterior and has ample garage space. The split level home is located on a golf course in an exclusive community and inside is a nice wet bar, stunning fireplace, and lots of built-in shelving. The backyard would make an excellent entertaining space as it has great landscaping and an outdoor kitchen.
5. Chicago, IL – 2 beds, 2.5 baths, 2,100 sq. ft.
http://www.zillow.com/homedetails/1320-N-State-Pkwy-3D-Chicago-IL-60610/2106333558_zpid/
Lot size: 0 sq. ft.
There aren’t many properties in the half million dollar range in Chicago, and what’s available is mainly condos and apartments such as this two bedroom unit. It certainly looks nice inside and has excellent finishes and chic style. There’s no dedicated parking space, though, so if you own a car and bought this home you’d have to settle with finding a spot for your ride across the street.
6. Indianapolis, IN – 4 beds, 3.5 baths, 3,925 sq. ft.
http://www.zillow.com/homedetails/8418-N-College-Ave-Indianapolis-IN-46240/2142321600_zpid/
Lot size: 0.34 acres
Indianapolis is a major city that’s had rising real estate prices in the last decade, and that’s why $500,000 doesn’t go as far as it used to there. Still, for that amount you could get this beautiful home that has an interior with lots of upgrades. It doesn’t hurt that it’s in a good area and if you’re a gourmet you’ll appreciate all of the kitchen’s details, such as the granite counters and gleaming stainless steel appliances.
7. Charlotte, NC – 4 beds, 3 baths, 2,404 sq. ft.
http://www.zillow.com/homedetails/606-Bennington-Pl-Charlotte-NC-28211/6273896_zpid/
Lot size: 0.27 acres
You can typically find houses with more land for $500,000 in the south, but what it lacks in lot size the home makes up for with style and charm. The exterior is just about irresistible, and inside it gets even better. This house looks like something you’d run into while browsing Pinterest’s home design boards, as it’s cozy, chic, and superbly put together. The property’s landscaping also makes it a winner.
8. Seattle, WA – 1 bed, 1 bath, 787 sq. ft.
http://www.zillow.com/homedetails/121-Vine-St-UNIT-1206-Seattle-WA-98121/48662274_zpid/
Lot size: 0 sq. ft.
Don’t expect to get much land, if any, in Seattle. There are very few properties for sale in the $500,000 range but this one is up for grabs. It’s a one bedroom unit with less than 800 square feet of space. It’s definitely small for half a million, but at least it’s in a building that has a round the clock concierge, Jacuzzi, fully equipped gym, sauna, and pool. If you’re longing to live in Belltown and you don’t mind not having a ton of space, this property would fit the bill.
9. Boston, MA – 3 beds, 1 bath, 1,106 sq. ft.
http://www.zillow.com/homedetails/17-Virgil-Rd-UNIT-1-Boston-MA-02132/81853842_zpid/
Lot size: 0 sq. ft.
Boston is another highly populated city where the real estate market is competitive. You can get a condo there for $500,000 or you can opt for an apartment unit such as this one. It has three bedrooms and some nice features, and it’s located in a building that looks more like a traditional home than an apartment. The unit is nice enough, especially for Boston, but it comes with absolutely no land whatsoever.
10. Nashville, TN – 4 beds, 3 baths, 3,406 sq. ft.
http://www.zillow.com/homedetails/5871-Cane-Ridge-Rd-Cane-Ridge-TN-37013/2107293072_zpid/
Lot size: 2.13 acres
Historic Nashville has a bevy of properties for sale that come with big plots of land, and this is just one. Not only would you get a gorgeous home with a detached garage and a stunning exterior, the property also has an in-ground pool. A hot tub, electric fence, updated kitchen, and sun room are also part of what makes the home worth its price. It also sits on over two acres of land, meaning you’d have plenty of room to garden.
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