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

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 Michigan City?

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

110 N Lake Ave, Michigan City, IN 46360
- Price: $495,000
- 6 bedrooms, 2.3 bathrooms
- Square feet: 2,640
- See 110 N Lake Ave, Michigan City, IN 46360 on Redfin.com

11754 W 400 N, Michigan City, IN 46360
- Price: $439,999
- 5 bedrooms, 3.3 bathrooms
- Square feet: 3,031
- See 11754 W 400 N, Michigan City, IN 46360 on Redfin.com

9656 N 200 E, La Porte, IN 46350
- Price: $475,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,456
- See 9656 N 200 E, La Porte, IN 46350 on Redfin.com

3811 N Claret Trl, La Porte, IN 46350
- Price: $434,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,410
- See 3811 N Claret Trl, La Porte, IN 46350 on Redfin.com

555 N 250 E, La Porte, IN 46350
- Price: $379,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,278
- See 555 N 250 E, La Porte, IN 46350 on Redfin.com

1587 N Rustic Dr, La Porte, IN 46350
- Price: $459,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,956
- See 1587 N Rustic Dr, La Porte, IN 46350 on Redfin.com

114 E Jersey St, Hanna, IN 46340
- Price: $425,500
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,204
- See 114 E Jersey St, Hanna, IN 46340 on Redfin.com

1009 S Redbud Dr, La Porte, IN 46350
- Price: $399,000
- 4 bedrooms, 2.3 bathrooms
- Square feet: 3,506
- See 1009 S Redbud Dr, La Porte, IN 46350 on Redfin.com

906 N Honeysuckle Ln, La Porte, IN 46350
- Price: $439,900
- 4 bedrooms, 2.3 bathrooms
- Square feet: 2,682
- See 906 N Honeysuckle Ln, La Porte, IN 46350 on Redfin.com

215 W 10Th St, Michigan City, IN 46360
- Price: $475,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,618
- See 215 W 10Th St, Michigan City, IN 46360 on Redfin.com

1796 S Rolling Meadows Dr, Westville, IN 46391
- Price: $425,000
- 3 bedrooms, 2.8 bathrooms
- Square feet: 2,366
- See 1796 S Rolling Meadows Dr, Westville, IN 46391 on Redfin.com

2692 N Morning Glory Ave, Rolling Prairie, IN 46371
- Price: $444,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,468
- See 2692 N Morning Glory Ave, Rolling Prairie, IN 46371 on Redfin.com

203 Birch Tree Ln, Michigan City, IN 46360
- Price: $389,500
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,610
- See 203 Birch Tree Ln, Michigan City, IN 46360 on Redfin.com

218 Chicadee Trl, Michigan City, IN 46360
- Price: $465,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,283
- See 218 Chicadee Trl, Michigan City, IN 46360 on Redfin.com

1804 Ridgefield Ave, La Porte, IN 46350
- Price: $469,900
- 3 bedrooms, 2.3 bathrooms
- Square feet: 3,548
- See 1804 Ridgefield Ave, La Porte, IN 46350 on Redfin.com

7014 N Bungalow Dr, New Carlisle, IN 46552
- Price: $420,000
- 3 bedrooms, 2.3 bathrooms
- Square feet: 2,891
- See 7014 N Bungalow Dr, New Carlisle, IN 46552 on Redfin.com

3216 W Greenbriar Ln, La Porte, IN 46350
- Price: $384,900
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,710
- See 3216 W Greenbriar Ln, La Porte, IN 46350 on Redfin.com

9102 W Valley Ct, Michigan City, IN 46360
- Price: $425,000
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,700
- See 9102 W Valley Ct, Michigan City, IN 46360 on Redfin.com

504 Closser Ave, La Porte, IN 46350
- Price: $394,900
- 3 bedrooms, 1.5 bathrooms
- Square feet: 1,600
- See 504 Closser Ave, La Porte, IN 46350 on Redfin.com

1941 N Shebel Rd, Michigan City, IN 46360
- Price: $439,999
- 3 bedrooms, 0.8 bathrooms
- Square feet: 3,534
- See 1941 N Shebel Rd, Michigan City, IN 46360 on Redfin.com

333 Lake Shore Dr, Michigan City, IN 46360
- Price: $489,000
- 2 bedrooms, 2.5 bathrooms
- Square feet: 1,490
- See 333 Lake Shore Dr, Michigan City, IN 46360 on Redfin.com

400 W 18Th St, La Porte, IN 46350
- Price: $399,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,638
- See 400 W 18Th St, La Porte, IN 46350 on Redfin.com

2187 S County Line Rd, Westville, IN 46391
- Price: $449,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,296
- See 2187 S County Line Rd, Westville, IN 46391 on Redfin.com

101 W Michigan Blvd, Michigan City, IN 46360
- Price: $465,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,079
- See 101 W Michigan Blvd, Michigan City, IN 46360 on Redfin.com

2022 Bellevire Dr, Long Beach, IN 46360
- Price: $480,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,056
- See 2022 Bellevire Dr, Long Beach, IN 46360 on Redfin.com

18 Northshore Dr, La Porte, IN 46350
- Price: $449,900
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,046
- See 18 Northshore Dr, La Porte, IN 46350 on Redfin.com

109 Washington Park Blvd, Michigan City, IN 46360
- Price: $395,000
- 2 bedrooms, 1 bathroom
- Square feet: 1,392
- See 109 Washington Park Blvd, Michigan City, IN 46360 on Redfin.com

101 W Michigan Blvd, Michigan City, IN 46360
- Price: $395,000
- 1 bedroom, 1.5 bathrooms
- Square feet: 760
- See 101 W Michigan Blvd, Michigan City, IN 46360 on Redfin.com

101 W Michigan Blvd, Michigan City, IN 46360
- Price: $400,000
- 1 bedroom, 1 bathroom
- Square feet: 909
- See 101 W Michigan Blvd, Michigan City, IN 46360 on Redfin.com

2 Marine Dr, Michigan City, IN 46360
- Price: $380,000
- 1 bedroom, 1 bathroom
- Square feet: 824
- See 2 Marine Dr, Michigan City, IN 46360 on Redfin.com