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

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 Waterloo?

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

619 Sal Ave, Dunkerton, IA 50626
- Price: $490,000
- 7 bedrooms, 4.3 bathrooms
- Square feet: 4,692
- See 619 Sal Ave, Dunkerton, IA 50626 on Redfin.com

1121 Donna St, Denver, IA 50622
- Price: $474,900
- 5 bedrooms, 3.5 bathrooms
- Square feet: 2,804
- See 1121 Donna St, Denver, IA 50622 on Redfin.com

1308 South St, La Porte City, IA 50651
- Price: $425,000
- 5 bedrooms, 3 bathrooms
- Square feet: 3,780
- See 1308 South St, La Porte City, IA 50651 on Redfin.com

4329 Berry Hill Rd, Cedar Falls, IA 50613
- Price: $469,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,876
- See 4329 Berry Hill Rd, Cedar Falls, IA 50613 on Redfin.com

615 Melendy Ln, Cedar Falls, IA 50613
- Price: $494,900
- 5 bedrooms, 2.8 bathrooms
- Square feet: 2,322
- See 615 Melendy Ln, Cedar Falls, IA 50613 on Redfin.com

1020 Nancy Rd, Waterloo, IA 50701
- Price: $460,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,708
- See 1020 Nancy Rd, Waterloo, IA 50701 on Redfin.com

4306 Berry Hill Rd, Cedar Falls, IA 50613
- Price: $450,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,030
- See 4306 Berry Hill Rd, Cedar Falls, IA 50613 on Redfin.com

3903 Bloomfield Ave, Cedar Falls, IA 50613
- Price: $498,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,570
- See 3903 Bloomfield Ave, Cedar Falls, IA 50613 on Redfin.com

122 Sheridan Rd, Waterloo, IA 50701
- Price: $439,900
- 4 bedrooms, 3.3 bathrooms
- Square feet: 3,760
- See 122 Sheridan Rd, Waterloo, IA 50701 on Redfin.com

603 Clay St, Cedar Falls, IA 50613
- Price: $475,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,267
- See 603 Clay St, Cedar Falls, IA 50613 on Redfin.com

108 Ogden Ave, Waterloo, IA 50707
- Price: $459,500
- 4 bedrooms, 3 bathrooms
- Square feet: 3,110
- See 108 Ogden Ave, Waterloo, IA 50707 on Redfin.com

1514 Robertson Rd, Waverly, IA 50677
- Price: $429,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,918
- See 1514 Robertson Rd, Waverly, IA 50677 on Redfin.com

205 Pirate St, Hudson, IA 50643
- Price: $469,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,563
- See 205 Pirate St, Hudson, IA 50643 on Redfin.com

4209 Thresher Ct, Cedar Falls, IA 50613
- Price: $474,900
- 4 bedrooms, 2.8 bathrooms
- Square feet: 2,815
- See 4209 Thresher Ct, Cedar Falls, IA 50613 on Redfin.com

4662 Hoff Rd, Waterloo, IA 50701
- Price: $449,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,794
- See 4662 Hoff Rd, Waterloo, IA 50701 on Redfin.com

417 Primrose Dr, Hudson, IA 50643
- Price: $464,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,678
- See 417 Primrose Dr, Hudson, IA 50643 on Redfin.com

13518 King Rd, La Porte City, IA 50651
- Price: $449,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,737
- See 13518 King Rd, La Porte City, IA 50651 on Redfin.com

4018 Keagles Xing, Cedar Falls, IA 50613
- Price: $499,900
- 3 bedrooms, 3 bathrooms
- Square feet: 3,028
- See 4018 Keagles Xing, Cedar Falls, IA 50613 on Redfin.com

1021 Lake Ridge Dr, Cedar Falls, IA 50613
- Price: $429,900
- 3 bedrooms, 3 bathrooms
- Square feet: 2,497
- See 1021 Lake Ridge Dr, Cedar Falls, IA 50613 on Redfin.com

2125 Greenwood Ave, Cedar Falls, IA 50613
- Price: $429,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,504
- See 2125 Greenwood Ave, Cedar Falls, IA 50613 on Redfin.com

3902 Keagles Xing, Cedar Falls, IA 50613
- Price: $449,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,938
- See 3902 Keagles Xing, Cedar Falls, IA 50613 on Redfin.com

505 Tumbleweed Trl, Waverly, IA 50677
- Price: $460,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,766
- See 505 Tumbleweed Trl, Waverly, IA 50677 on Redfin.com

1821 Laramie St, Cedar Falls, IA
- Price: $479,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,654
- See 1821 Laramie St, Cedar Falls, IA on Redfin.com

5417 Fernwood Dr, Cedar Falls, IA 50613
- Price: $491,990
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,716
- See 5417 Fernwood Dr, Cedar Falls, IA 50613 on Redfin.com

135 Sunbird Ct, Waterloo, IA 50701
- Price: $499,900
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,669
- See 135 Sunbird Ct, Waterloo, IA 50701 on Redfin.com

125 Sunbird Ct, Waterloo, IA 50701
- Price: $496,251
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,584
- See 125 Sunbird Ct, Waterloo, IA 50701 on Redfin.com

2721 Autumn Woods Dr, Cedar Falls, IA 50613
- Price: $488,018
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,584
- See 2721 Autumn Woods Dr, Cedar Falls, IA 50613 on Redfin.com

2715 Autumn Woods Dr, Cedar Falls, IA 50613
- Price: $425,000
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,408
- See 2715 Autumn Woods Dr, Cedar Falls, IA 50613 on Redfin.com

4528 Sonoma Dr, Cedar Falls, IA 50613
- Price: $444,810
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,408
- See 4528 Sonoma Dr, Cedar Falls, IA 50613 on Redfin.com