What $250,000 Can Buy In Different U.S. Housing Markets
Real estate is local, even during a national recession that has caused a bottoming of the U.S. housing market. Whether buyers are scouring the Denver real estate market for deals or peeking at Indianapolis homes for sale, what home shoppers can get for their money varies greatly depending on where they’re looking. Here are some housing gems in a price range about $100k above the U.S. median home value, which currently hovers around $146,900. With interest rates for 30-year fixed mortgages continuing at less than 3.8 percent, a price point of $250,000 seemed a sweet spot to demonstrate what the market’s like for potential home shoppers.
2504 Amur St. Austin, TX (below)
For sale: $247,900
Square footage: 1,771
Home to the popular South by Southwest technology and music conference, Austin has differentiated itself from the rest of Texas as a cultural hub. The nation’s capital is home to several Fortune 500 companies, including the headquarters of Dell computers and Whole Foods. Austin currently has a median home list price of $239,900.
This single-story home was built in 2011 and is completely move-in ready with hardwood floors and carpeted bedrooms. The 3-bedroom home also includes a home office with closet and rear-covered patio.
2614 NE 131st Ave Portland OR (below)
For sale: $244,900
Square footage: 2,074
Since last April, the median list price for homes in Portland have been holding steady at around $220,000. With a population of a little over half a million people, Portland is Oregon’s most populous city and the third most populous city in the Pacific Northwest, after Seattle and Vancouver, Canada.
This newly updated home sits in a quiet neighborhood on a cul-de-sac lot. Built in 1969, the 4-bedroom, 2-bath home is light and bright with a spacious floor plan, open kitchen with island and private, fenced backyard.
5966 Caplinger Ave, Westerville OH (below)
For sale: $239,900
Square footage: 2,558
Situated in central Ohio, the capital city Columbus is the largest metropolitan area in the state with a population of 1,836,536 in the city and surrounding suburbs. Home to Ohio State, one of the largest state universities in the U.S. and several Fortune 500 companies, Columbus remains affordable with median home values hovering just around $100,000.
Located in Westerville, a suburb 20 minutes outside Columbus, this single-family home for sale was built in 2009. The 4-bedroom, 2,558-square-foot home has four levels of finished living space, including a full basement. Multiple updates include granite countertops and stainless-steel appliances, master suite with whirlpool tub and a fenced yard with pergola.
4526 Fairhope Dr, Indianapolis IN (below)
For sale: $250,000
Square footage: 2,997
Unlike many housing markets across the U.S., Indianapolis has seen a gradual rebound with median home values up 2 percent month-over-month. With home prices more affordable than they have been in decades, there are plenty of great deals out there for home buyers. Current Indianapolis home prices are significantly below the national level, hovering around $100,000.
For $250,000, this Indianapolis home for sale has quite a bit of space. Boasting 4 bedrooms, 2.5 bathrooms and nearly 3,000-square feet of living space, this home features a variety of amenities including walk-in closets, a jetted hot tub, spacious kitchen with breakfast bar and a heated/cooled 3-car garage.
2649 Brighton Ave NE, Minneapolis MN (below)
For sale: $242,500
Square footage: 2,132
The Minneapolis-St.Paul area is the 16th-largest metropolitan area in the U.S., with approximately 3.3 million residents. Six Fortune 500 corporations make their headquarters in the Twin Cities, making the metro area a viable option for home shoppers. Current Minneapolis median home values hover around the national level, at $147,500.
This classic Tudor home has 4 bedrooms with over 2,132 square feet of open living space. Originally built in 1932, the Minneapolis home for sale has been completely updated featuring hardwood floors, a new roof, dishwasher and refrigerator.
733 Brookwood Rd, Baltimore MD (below)
For sale: $259,000
Square footage: 1,968
With a total of 620,961 residents in 2010, Baltimore’s population has decreased by one-third since its peak in 1950. The city was once a predominately industrial town, with an economic base focused on steel processing, shipping, auto manufacturing and transportation. Median home values in Baltimore are currently $91,000.
Located just an hour outside of Washington, D.C, the Baltimore neighborhood of Hunting Ridge boasts this charming Colonial. Featuring 3 bedrooms and 3 bathrooms, the house has hardwood floors throughout, a wood-burning fireplace, remodeled, custom kitchen and formal dining room.
2947 Clermont St, Denver CO (below)
For sale: $259,900
Square footage: 1,348
The Denver housing market took another step toward recovery in February, with home values rising month-over-month and remaining flat year-over-year. According to housing economists, what’s driving the market is a surge in the number of first-time buyers and move-up buyers targeting lower-priced homes.
How about a home from the “Mad Men” era? This 3-bedroom, 1.5-bathroom Denver home for sale is a mid-century classic with lots of character and plenty of updates. The home features an updated bath and kitchen with stainless appliances and cherry cabinets as well as a private backyard and patio perfect for entertaining.