If you want to buy a home in a major U.S. city this year, expect to spend far more than the $257,700 the National Association of Realtors says is the median for existing homes.
Home prices have risen year-over-year for nearly seven years, but the end result varies greatly by region. In fact, some of the largest cities in the country feature a median home price well beyond $1 million, so it’s difficult to tell how much home buyers can get for their money.
We took a look through home listings and found what we could get in each market for $500,000 or less.
Unsurprisingly, that amount goes much farther in some cities than others.