When Purchasing a Home Across the U.S., How Far Will $500,000 Go?
With the one-year mark of COVID-19 coming and going, feeling antsy and cooped up are common themes throughout the nation. As a result, we have seen a surge in residents moving across the country in search of jobs or a change of scenery. Buyers and renters are looking for more amenities, like home offices and gyms, than ever before.
Whether you’re looking for your next homebuying adventure or you’re just curious about what states get you the biggest bang for your buck in real estate, let’s take a look at five U.S. cities and uncover how much house you can get for $500,000.
What Can $500,000 Get You in Real Estate Across the U.S.?
Located on the southeast border of Texas near the Gulf of Mexico, Houston is the most populous city in Texas and the fourth most populous city in the US. Houston is home to 22 Fortune 500 companies, and its economy has ties to the aeronautics, transportation, and energy industries. With around 10,000 restaurants in the metro area, be prepared to indulge in a new cuisine regularly. The median home value in Houston is $209,512, giving you a robust budget to find the perfect home.
This newly renovated property boasts beautiful hardwood floors and lofted ceilings for $489,000. You’ll find 3 beds and 3 baths in this 2,636-sq.-ft. standalone townhouse, giving you plenty of room to invite friends and family to your new pad once everyone is vaccinated. Located in the Montrose neighborhood of Houston, you’d be close to a plethora of restaurants and art galleries. Head to Eleanor Tinsley Park nearby for a picnic and stunning views of the skyline.
Located between the Columbia and Willamette rivers, Portland sits in the shadow of Mount Hood. Originally at the end of the Oregon Trail, Portland’s water access provided convenient transportation of goods and the timber industry in the area took off. Sporting the ideal climate to grow roses with its warm, dry summers and cool, rainy winters, Portland is also known as the “City of Roses”. To enjoy the blooms, take a bike ride along Portland’s 350 miles of bikeway. With a median home value of $511,587, Portland is a highly sought-after area in which to reside.
In the northern neighborhood of St. Johns, you can find this fully renovated 1910s farmhouse for $489,800. The hardwood floors are original, shown off by large windows throughout this charming abode. With 3 beds and 2 baths in this 2,108-sq.-ft. home, you’ll have ample space if you work from home or just enjoy plenty of room. The St. Johns neighborhood sits at the junction of the Columbia and Willamette Rivers and is home to many local shops, cafes, and pubs. After an afternoon of exploring, head over to the picturesque St. Johns Bridge to take in the view.
Atlanta, the capital of Georgia, sits along the foothills of the Appalachian Mountains. Though most of the city was burned to the ground during the American Civil War, Atlanta rebuilt with a vengeance and became a center of commerce and the civil rights movement. Now, Atlanta is booming with nightlife, fine dining, and outdoor activities galore. With rolling hills and dense forest, its nickname “City in the Forest” is nothing but accurate. Atlanta’s median home value is $313,818, allowing your dollar to stretch farther.
In this new construction, you’ll find brand new appliances, beautiful windows, and picturesque views. With 2 beds and 4 baths in its 1,820 sq. ft., this modern home will check all your boxes for $484,900. In close proximity to a myriad of entertainment, dining, and shopping options, the Candler Park neighborhood in which this house resides is bustling with activity. Explore nearby Inman Park, an eclectic area known for its hip food scene, cafes, and wine bars. Also within close proximity is the Eastside BeltLine trail, a converted railway line popular among walkers and cyclists.
Chicago is a midwestern hot spot known as “The Windy City” located next to Lake Michigan, one of the five Great Lakes. Unwilling to rest on the laurels of its proximity to a Great Lake, Chicago is also an international hub for the finance, commerce, education, and transportation industries, to name just a few. This city has made many contributions to the development of zoning standards and urban planning, including the erection of the first steel-framed skyscraper in 1885. If you’re an avid traveler looking for some history, Chicago also sports the starting point of Historic Route 66. The median home value in Chicago is $285,579, making it possible to find an affordable home in the Windy City.
This 4 bed, 3 bath 2,272-sq.-ft. charmer, priced at $449,000, is located in the Bronzeville neighborhood of Chicago. In this three-story newly renovated property you’ll find 10-ft. ceilings, a beautiful waterfall island, and a dedicated in-home office space. Spend time in the grassy backyard or explore the surrounding area, home to Gallery Guichard, the Bronzeville Walk of Fame, and the Robert W. Roloson Houses. A mecca for food enthusiasts, here you’ll find everything from soul food to contemporary dining to craft cocktails paired with jazz music.
Omaha is Nebraska’s largest city and sits along the Missouri River. With its central location, Omaha has been an important national transportation hub for over 100 years and even hosted the World’s Fair in 1898. Home to four Fortune 500 companies and five Fortune 1000 companies, Omaha remains a prominent Midwestern city. A major attraction in Omaha is the Henry Doorly Zoo and Aquarium, which boasts the world’s largest nocturnal exhibit and indoor swamp, the world’s largest indoor rainforest, the world’s largest indoor desert, and the largest geodesic dome in the world. With a median home value of $221,098, Omaha is a great option for anyone thinking of moving to a lively city in the Midwest.
In the Pacific Springs neighborhood of Omaha, you’ll find this 4,323-sq.-ft. 5 bed, 4 bath home available for $500,000. With a remodeled kitchen, walk-in closets in every room, and a deck overlooking the grassy backyard, this is the perfect house to keep you and your friends entertained. Part of a golf course community, you are also close to Village Pointe Shopping Center, more than 25 restaurants, and Omaha’s Old Market. A place to shop until you drop and eat until you’re loosening your belt, The Old Market will easily entertain you for an entire weekend.
*Information from Zillow was updated on 3/22/2021.
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