How much house does $500,000 buy you in Indianapolis?

Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000. 

These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.

While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Indianapolis?

To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Indianapolis right now. Listings below $500,000 were included if necessary.

2833 Holiday Way, Greenwood, IN 46143
- Price: $499,900
- 6 bedrooms, 4.5 bathrooms
- Square feet: 4,594
- See 2833 Holiday Way, Greenwood, IN 46143 on Redfin.com

2131 Foxglove Dr, Plainfield, IN 46168
- Price: $499,900
- 5 bedrooms, 3 bathrooms
- Square feet: 4,088
- See 2131 Foxglove Dr, Plainfield, IN 46168 on Redfin.com

5388 W Hazelrigg Rd, Thorntown, IN 46071
- Price: $500,000
- 5 bedrooms, 3 bathrooms
- Square feet: 3,630
- See 5388 W Hazelrigg Rd, Thorntown, IN 46071 on Redfin.com

837 Wilderness Ln, Greenwood, IN 46142
- Price: $499,900
- 4 bedrooms, 4 bathrooms
- Square feet: 3,666
- See 837 Wilderness Ln, Greenwood, IN 46142 on Redfin.com

560 Jefferson Ave, Indianapolis, IN 46201
- Price: $499,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,647
- See 560 Jefferson Ave, Indianapolis, IN 46201 on Redfin.com

34 Round Hill Ct, Danville, IN 46122
- Price: $500,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,694
- See 34 Round Hill Ct, Danville, IN 46122 on Redfin.com

396 E County Road 825 N, Bainbridge, IN 46105
- Price: $500,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,972
- See 396 E County Road 825 N, Bainbridge, IN 46105 on Redfin.com

8416 Providence Dr, Fishers, IN 46038
- Price: $499,990
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,357
- See 8416 Providence Dr, Fishers, IN 46038 on Redfin.com

4274 Ironclad Dr, Bargersville, IN 46106
- Price: $499,990
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,174
- See 4274 Ironclad Dr, Bargersville, IN 46106 on Redfin.com

6357 Central Ave, Indianapolis, IN 46220
- Price: $500,000
- 4 bedrooms, 2 bathrooms
- Square feet: 3,384
- See 6357 Central Ave, Indianapolis, IN 46220 on Redfin.com

2126 N Pennsylvania St, Indianapolis, IN 46202
- Price: $500,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,783
- See 2126 N Pennsylvania St, Indianapolis, IN 46202 on Redfin.com

5052 Carmine St, Brownsburg, IN 46112
- Price: $499,990
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,540
- See 5052 Carmine St, Brownsburg, IN 46112 on Redfin.com

4302 Kessler Boulevard North Dr, Indianapolis, IN 46228
- Price: $500,000
- 3 bedrooms, 3 bathrooms
- Square feet: 3,066
- See 4302 Kessler Boulevard North Dr, Indianapolis, IN 46228 on Redfin.com

9893 Greenvine Dr, Carmel, IN 46032
- Price: $499,900
- 3 bedrooms, 3 bathrooms
- Square feet: 2,137
- See 9893 Greenvine Dr, Carmel, IN 46032 on Redfin.com

1461 Whistle Way, Westfield, IN 46074
- Price: $500,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,993
- See 1461 Whistle Way, Westfield, IN 46074 on Redfin.com

5352 S Hilltop Farms Dr, Franklin, IN 46131
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 3,376
- See 5352 S Hilltop Farms Dr, Franklin, IN 46131 on Redfin.com

2435 N College Ave, Indianapolis, IN 46205
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 3,004
- See 2435 N College Ave, Indianapolis, IN 46205 on Redfin.com

450 W 93Rd St, Indianapolis, IN 46260
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,457
- See 450 W 93Rd St, Indianapolis, IN 46260 on Redfin.com

11595 Platt St, Noblesville, IN 46060
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 3,230
- See 11595 Platt St, Noblesville, IN 46060 on Redfin.com

4720 Mallard View Dr, Indianapolis, IN 46226
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,826
- See 4720 Mallard View Dr, Indianapolis, IN 46226 on Redfin.com

451 Emerson Rd, Carmel, IN 46032
- Price: $499,999
- 3 bedrooms, 1.5 bathrooms
- Square feet: 1,450
- See 451 Emerson Rd, Carmel, IN 46032 on Redfin.com

537 N Rural St, Indianapolis, IN 46201
- Price: $500,000
- 3 bedrooms, 1 bathroom
- Square feet: 1,932
- See 537 N Rural St, Indianapolis, IN 46201 on Redfin.com

3739 E Market St, Indianapolis, IN 46201
- Price: $500,000
- 2 bedrooms, 4 bathrooms
- Square feet: 4,800
- See 3739 E Market St, Indianapolis, IN 46201 on Redfin.com

994 Astor Ln, Carmel, IN 46032
- Price: $500,000
- 2 bedrooms, 2.5 bathrooms
- Square feet: 1,659
- See 994 Astor Ln, Carmel, IN 46032 on Redfin.com

1089 Summerwood Blvd, Greenfield, IN 46140
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 3,698
- See 1089 Summerwood Blvd, Greenfield, IN 46140 on Redfin.com

319 E 16Th St, Indianapolis, IN 46202
- Price: $500,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,669
- See 319 E 16Th St, Indianapolis, IN 46202 on Redfin.com

16774 Imperial Ct, Fishers, IN 46040
- Price: $499,980
- 2 bedrooms, 2 bathrooms
- Square feet: 1,616
- See 16774 Imperial Ct, Fishers, IN 46040 on Redfin.com

16870 Imperial Ct, Fishers, IN 46040
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,534
- See 16870 Imperial Ct, Fishers, IN 46040 on Redfin.com

504 N Park Ave, Indianapolis, IN 46202
- Price: $499,999
- 2 bedrooms, 2 bathrooms
- Square feet: 1,318
- See 504 N Park Ave, Indianapolis, IN 46202 on Redfin.com

230 1St Ave Se, Carmel, IN 46032
- Price: $500,000
- 2 bedrooms, 1 bathroom
- Square feet: 996
- See 230 1St Ave Se, Carmel, IN 46032 on Redfin.com