How much house does $500,000 buy you in Iowa 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 Iowa 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 Iowa City right now. Listings below $500,000 were included if necessary.

1017 Langenberg Ave, Iowa City, IA 52240
- Price: $489,500
- 6 bedrooms, 3.5 bathrooms
- Square feet: 3,519
- See 1017 Langenberg Ave, Iowa City, IA 52240 on Redfin.com

712 Willow Ct, Solon, IA 52333
- Price: $499,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,249
- See 712 Willow Ct, Solon, IA 52333 on Redfin.com

2550 N Liberty Rd Ne, North Liberty, IA 52317
- Price: $499,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,905
- See 2550 N Liberty Rd Ne, North Liberty, IA 52317 on Redfin.com

701 Plum St, Solon, IA 52333
- Price: $489,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,877
- See 701 Plum St, Solon, IA 52333 on Redfin.com

2136 Oakdale Rdg, Coralville, IA 52241
- Price: $499,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,867
- See 2136 Oakdale Rdg, Coralville, IA 52241 on Redfin.com

420 Camden St, North Liberty, IA 52317
- Price: $475,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,768
- See 420 Camden St, North Liberty, IA 52317 on Redfin.com

1250 Priscilla Ct, North Liberty, IA 52317
- Price: $489,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,653
- See 1250 Priscilla Ct, North Liberty, IA 52317 on Redfin.com

2250 Dempster Dr, Coralville, IA 52241
- Price: $485,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,650
- See 2250 Dempster Dr, Coralville, IA 52241 on Redfin.com

225 Chadwick Ln, Iowa City, IA 52245
- Price: $484,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,534
- See 225 Chadwick Ln, Iowa City, IA 52245 on Redfin.com

4432 Luke Dr, Iowa City, IA 52246
- Price: $479,500
- 5 bedrooms, 3 bathrooms
- Square feet: 2,497
- See 4432 Luke Dr, Iowa City, IA 52246 on Redfin.com

4022 Unbridled Ave, Iowa City, IA 52240
- Price: $475,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,409
- See 4022 Unbridled Ave, Iowa City, IA 52240 on Redfin.com

1270 Abraham Dr, North Liberty, IA 52317
- Price: $499,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,403
- See 1270 Abraham Dr, North Liberty, IA 52317 on Redfin.com

1306 E Gable Way, Tiffin, IA 52340
- Price: $489,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,463
- See 1306 E Gable Way, Tiffin, IA 52340 on Redfin.com

1026 Highland Trl, Solon, IA 52333
- Price: $494,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,717
- See 1026 Highland Trl, Solon, IA 52333 on Redfin.com

897 Dubs Dr, Iowa City, IA 52246
- Price: $479,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,562
- See 897 Dubs Dr, Iowa City, IA 52246 on Redfin.com

1245 Covered Wagon Dr, Iowa City, IA 52240
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,558
- See 1245 Covered Wagon Dr, Iowa City, IA 52240 on Redfin.com

235 Chadwick Ln, Iowa City, IA 52245
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,558
- See 235 Chadwick Ln, Iowa City, IA 52245 on Redfin.com

1024 Highland Trl, Solon, IA 52333
- Price: $484,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,515
- See 1024 Highland Trl, Solon, IA 52333 on Redfin.com

357 Hidden Ridge Dr, Coralville, IA 52241
- Price: $479,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,290
- See 357 Hidden Ridge Dr, Coralville, IA 52241 on Redfin.com

586 Maclan Cir, Iowa City, IA 52246
- Price: $489,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,077
- See 586 Maclan Cir, Iowa City, IA 52246 on Redfin.com

2040 N Dubuque Rd, Iowa City, IA 52245
- Price: $499,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,520
- See 2040 N Dubuque Rd, Iowa City, IA 52245 on Redfin.com

1239 Sand Prairie Dr, Iowa City, IA 52240
- Price: $491,059
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,806
- See 1239 Sand Prairie Dr, Iowa City, IA 52240 on Redfin.com

See Remarks Oak Crest Hill Rd Se, Iowa City, IA
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,680
- See See Remarks Oak Crest Hill Rd Se, Iowa City, IA on Redfin.com

222 Ronalds St, Iowa City, IA 52245
- Price: $495,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,359
- See 222 Ronalds St, Iowa City, IA 52245 on Redfin.com

400 E Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,300
- See 400 E Main St, Solon, IA 52333 on Redfin.com

403 E Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,300
- See 403 E Main St, Solon, IA 52333 on Redfin.com

400 E Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,263
- See 400 E Main St, Solon, IA 52333 on Redfin.com

405 W Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,263
- See 405 W Main St, Solon, IA 52333 on Redfin.com

400 E Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,263
- See 400 E Main St, Solon, IA 52333 on Redfin.com

400 E Main St, Solon, IA 52333
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,263
- See 400 E Main St, Solon, IA 52333 on Redfin.com