According to the National Association or Realtors, the median home price at the end of 2015 was $220,000. That got me thinking, what does $220,000 get you around the country. Here is what buying a home at the median sale price will get you in various markets around the United States.
Median Home Price – Home in San Francisco
San Francisco has some of the most expensive homes in America. I couldn’t even find anything for $220,000. However, for $250,000, you can get a 533 square foot condo. That is the size of a closet in many other markets.
Median Home Price – Home in New York City
New York is another one of the most expensive cities in North America. $220,000 will not land you in the bustling city center in Manhattan, but you can find something in the area for that price. This 1,000 square foot, 2 bed, 1 bath home is on the far side of Brooklyn.
Median Home Price – Home in Portland
In Portland, Oregon, the dream of the 90s is still alive, but 90s home prices are long gone. For the median home price in the United States, you can get this 3 bedroom, 2 bathroom ranch in Southeast Portland. While this home is a little ways out from downtown, it is still a desirable location in town.
Median Home Price – Home in Denver
The Mile High City is quickly growing due to its great weather and outdoor activities. For $220,000, you will end up with a smaller home or a less desirable location than the average, but that doesn’t mean you’ll end up with only poor choices. This $220,000 home is located southwest of downtown and comes with three bedrooms and one bathroom.
Median Home Price – Home in Austin
Austin is a trendy hotbed of up-and-coming technology companies, but the median home price remains low compared to many other cities. For $220,000, you can do quite a bit better than the average. For example, this brand new 1,308 square foot home.
Median Home Price – Home in Omaha
Omaha is a beautiful and inexpensive city in middle America. Home to the “Oracle from Omaha” Warren Buffett, $220,000 goes a long way in Omaha. For example, this 4 bed, 4 bath, 2,765 square foot home at the edge of the city.
Median Home Price – Home in Witchita
In even smaller cities, your money will go further. Wichita, Kansas is home to several aircraft manufacturing companies, and inexpensive land. This 4 bed, 3 bath home is nearly 3,000 square feet and is under foreclosure with an expected closing price of $215,000 on a quarter acre.
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What will that amount actually get you? 450 square feet in northernmost Manhattan. An awesome pink bungalow in Ft. Lauderdale. And a small castle just outside Detroit.