How much house does $500,000 buy?

Miami

• 4 bedrooms, 3.5 baths
• 2,691 square feet
• Year built: 1996
• Price: $499,900

This two-story Mediterranean-style home in the East Kendall area of Miami has dual master bedrooms, tiling throughout, hurricane accordion shutters and a two-car garage.  "Looking back over the past 12 months of closed sales, home prices compared to this home and of similar size have closed between $415,000 to $600,000," says listing agent Pamela Perez. "This area is stable without a large inventory, with the exception of those sales purchased in the 2003 to 2006 era, of which many have succumbed to foreclosure."

• Realtor.com: Find a $500,000 home in Miami
  
  
• Video: Picture-perfect homes for under $500,000

Dallas

• 3 bedroom, 3 bathrooms
• 2,499 square feet
• Year built: 1983
• Price: $499,900

A half-million gets you a lot in Dallas. Outside, this single-story home has a large circular driveway and a backyard pool and spa with a private sun deck. Inside, the updated home has a living area with a dry bar with a built-in wine fridge; a kitchen with granite countertops and porcelain floors; and a dining area with vaulted ceilings and views of the pool and patio.

• Realtor.com: See other $500,000 homes in Dallas
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

New York City

• 1 bedroom, 1 bathroom
• About 675 square feet
• Year built: 1925
• $480,000

Riverside Park, the four-mile-long park designed by Frederick Law Olmsted, is one of Manhattan's lesser-known gems. This third-floor walkup on the Upper West Side is steps from the park. Inside, it has a tiled decorative fireplace and a kitchen separated by French doors. "The $500,000 range is the entry-level price point in Manhattan," says listing agent Lauren Kende. "We are seeing more owners with reasonable expectations about the current value of their properties and a greater willingness to negotiate in order to make a sale happen. Nothing is being given away … but buyers are getting deals, relative to what prices were a few years ago."

• Realtor.com: What other New York homes are priced at a half-million?
  
  
• Video: Picture-perfect homes for under $500,000

Boston

• 4 bedrooms, 1 bathroom
• 1,676 square feet
• Year built: 1930
• $499,900

This classic Colonial in Boston's Bellevue Hill area is within walking distance to the train. The nine-room home includes a living room with a fireplace, a dining room with a china hutch, natural woodwork and oak floors throughout. A kitchen with granite countertops leads to a sunroom and deck overlooking the backyard patio and landscaped yard.

NOTE: This property is no longer listed.

• Realtor.com: How many $500,000 homes are for sale in Boston?
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

Seattle

• 4 bedrooms, 3 bathrooms
• 2,910 square feet
• Year built: 1957
• $500,000

This well-maintained midcentury home in the quiet Broadview neighborhood of north Seattle, not far from woodsy Carkeek Park, has large picture windows with peek-a-boo views of Puget Sound. The living room has a wood-burning fireplace. The lower level has a family room with a second fireplace. The large lot is landscaped and includes a sports court.

• Realtor.com: See what $500,000 can buy in Seattle
  
  
• Video: Picture-perfect homes for under $500,000

Chicago

• 2 bedrooms, 3 bathrooms
• 1,850 square feet
• Year built: 1999
• $500,000

Thought a penthouse was just for millionaires? This south-facing penthouse sits atop an apartment building on Chicago's Canal Street. The duplex has a floor-to-ceiling wall of windows, a 430-square-foot professionally landscaped terrace and heated garage parking. Inside are hardwood floors, a custom built-in library in the second bedroom and a living room with fireplace.

• Realtor.com: Find a place in Chicago for around $500,000
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

Detroit

• 7 bedrooms, 6 bathrooms
• 9,607 square feet
•  Year built: 1914
• $499,900

A mansion for a half-million? You can have it if you move to Detroit. This 9,600-square-foot manse in the city's august Indian Village neighborhood was designed by architects Chittenden and Kotting. It has eight fireplaces, a third-floor ballroom, the original wood-paneled ballroom, vintage wallpaper and a well-maintained slate roof.  "Years ago, when the market was strong, these types of homes would have sold for a million," says listing agent Lauren Bruyninga.

• Realtor.com: What other homes are $500,000 in Detroit?
  
  
• Video: Picture-perfect homes for under $500,000

Los Angeles

• 3 bedrooms, 2 bathrooms
• 1,248 square feet
• Year built: 1950
• $499,999

This home in the desirable Westchester neighborhood was originally offered at $585,000. A large family room opens to the kitchen and has access to the backyard. A bright living room has been freshly painted. The bathroom off the hallway has a new vanity, new floor, new light fixture and fresh paint. The price reduction notwithstanding, "properties in this price range are selling," says listing agent Carla Lowe. "There seem to be many buyers purchasing in the $500,000 range."

• Realtor.com: Find a home in Los Angeles for around $500,000
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

Las Vegas

• 4 bedrooms, 3 bathrooms
• 3,028 square feet
• Year built: 1991
• $459,000

A half-million dollars gets you a lot of home in Las Vegas today. Outdoors, this home on more than a half-acre, recently reduced from $500,000, has a putting green, a pavilion with a refrigerator, a 20,000-gallon koi pond with waterfall, a pool and a basketball court. Inside, the home has Brazilian walnut floors in the dining room and living area; the latter has a stone fireplace. There's also a custom stone bar, and a bay window in the kitchen overlooks all the backyard activities.

• Realtor.com: See what else $500,000 can buy in Las Vegas
  
  
• Video: Picture-perfect homes for under $500,000

Phoenix

• 4 bedrooms, 3 bathrooms
• 2,489 square feet
• Year built: 1958
• Price: $500,000

This just-sold post-World War II ranch-style home in the South Arcadia area of Phoenix has been remodeled and expanded to house four bedrooms, including a master bedroom with a walk-in closet and contemporary bathroom. The kitchen was also expanded to reach into a great room and features stainless-steel appliances and a kitchen island. Out back is a covered patio for deflecting the Arizona sun while entertaining.

NOTE: This property is no longer listed.

• Realtor.com: Find a home in Phoenix for $500,000
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

Washington, D.C.

• 2 bedrooms, 1 bathroom
• 1,100 square feet
• Year built: 1925
• $500,000

This second-floor unit in a well-cared-for pre-World War II building has three exposures. The co-op has original hardwood floors, an updated kitchen and 9-foot-plus ceilings, and is an easy walk to a park, restaurants and shopping. "There is only 1.73 months of inventory at this price point, putting it squarely in 'sellers market' territory," says listing agent Susan Carr. "Buyers looking to purchase in this price range should be prepared to compete for properties they like."

• Realtor.com: Buy a $500,000 home in our nation's capital
  
  
• Video: Picture-perfect homes for under $500,000

Atlanta

• 4 bedrooms, 4 bathrooms
• 3,748 square feet
• Year built: 1996
• $500,000

This all-brick home is in a cul-de-sac within the Interstate 285 loop, near Northside and St. Joseph's hospitals. The updated kitchen has granite countertops, stainless-steel appliances and a step-in pantry. The home has hardwood floors throughout. The master bedroom has a fireplace, a large bath and a walk-in closet. The home also has access to a neighborhood pool and tennis court. "Although the Atlanta housing market continues to be challenging, prices in the Dunwoody/Sandy Springs market have stabilized with an average price of $465,000," says listing agent Cindy Edwards. "Sales are actually up by 10% from a year ago."

• Realtor.com: See what other Atlanta homes are for sale in this price range
  
  
• 'Listed': Bye-bye, mudroom and hello, 'drop zone'

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