How much house does $500,000 buy you in Ann Arbor?
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 Ann Arbor?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Ann Arbor right now. Listings below $500,000 were included if necessary.
9081 Creekway Dr, Ypsilanti, MI 48197
- Price: $500,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 2,818
- See 9081 Creekway Dr, Ypsilanti, MI 48197 on Redfin.com
1799 Sycamore Ct, Saline, MI 48176
- Price: $499,000
- 5 bedrooms, 3 bathrooms
- Square feet: 3,012
- See 1799 Sycamore Ct, Saline, MI 48176 on Redfin.com
5747 Glen Creek Ct, Ann Arbor, MI 48108
- Price: $495,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,250
- See 5747 Glen Creek Ct, Ann Arbor, MI 48108 on Redfin.com
6649 Maplelawn Dr, Ypsilanti, MI 48197
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,222
- See 6649 Maplelawn Dr, Ypsilanti, MI 48197 on Redfin.com
1928 Frances Way, Ypsilanti, MI 48198
- Price: $500,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,116
- See 1928 Frances Way, Ypsilanti, MI 48198 on Redfin.com
4657 Schmitt Ct, Milan, MI 48160
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,932
- See 4657 Schmitt Ct, Milan, MI 48160 on Redfin.com
9216-9224 Macarthur Blvd, Superior Township, MI 48198
- Price: $494,490
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,464
- See 9216-9224 Macarthur Blvd, Superior Township, MI 48198 on Redfin.com
1964 Elizabeth Ln, Ypsilanti, MI
- Price: $494,490
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,464
- See 1964 Elizabeth Ln, Ypsilanti, MI on Redfin.com
1453 Maplewood Dr, Saline, MI 48176
- Price: $499,999
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,406
- See 1453 Maplewood Dr, Saline, MI 48176 on Redfin.com
425 Jubilee Dr, Whitmore Lake, MI 48189
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,304
- See 425 Jubilee Dr, Whitmore Lake, MI 48189 on Redfin.com
1754 Jackson Ave, Ann Arbor, MI 48103
- Price: $494,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,020
- See 1754 Jackson Ave, Ann Arbor, MI 48103 on Redfin.com
6170 Gregory Rd, Dexter, MI 48130
- Price: $495,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,488
- See 6170 Gregory Rd, Dexter, MI 48130 on Redfin.com
9923 Sharon Hollow Rd, Manchester, MI 48158
- Price: $500,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,355
- See 9923 Sharon Hollow Rd, Manchester, MI 48158 on Redfin.com
1812 Jackson Ave, Ann Arbor, MI 48103
- Price: $499,900
- 4 bedrooms, 2 bathrooms
- Square feet: 1,450
- See 1812 Jackson Ave, Ann Arbor, MI 48103 on Redfin.com
853 Risdon Trl S, Saline, MI 48176
- Price: $499,990
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,390
- See 853 Risdon Trl S, Saline, MI 48176 on Redfin.com
5555 E Spaniel Dr, Ann Arbor, MI 48108
- Price: $499,990
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,983
- See 5555 E Spaniel Dr, Ann Arbor, MI 48108 on Redfin.com
5575 E Spaniel Dr, Ann Arbor, MI 48108
- Price: $493,990
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,983
- See 5575 E Spaniel Dr, Ann Arbor, MI 48108 on Redfin.com
1880 W Liberty St, Ann Arbor, MI 48103
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,632
- See 1880 W Liberty St, Ann Arbor, MI 48103 on Redfin.com
518 Jubilee Dr, Whitmore Lake, MI 48189
- Price: $495,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,630
- See 518 Jubilee Dr, Whitmore Lake, MI 48189 on Redfin.com
441 Jubilee Dr, Whitmore Lake, MI 48189
- Price: $497,500
- 3 bedrooms, 2 bathrooms
- Square feet: 1,538
- See 441 Jubilee Dr, Whitmore Lake, MI 48189 on Redfin.com
1785 Miller Ave, Ann Arbor, MI 48103
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,456
- See 1785 Miller Ave, Ann Arbor, MI 48103 on Redfin.com
6524 Reilly Dr, Gregory, MI 48137
- Price: $494,900
- 3 bedrooms, 1.5 bathrooms
- Square feet: 1,500
- See 6524 Reilly Dr, Gregory, MI 48137 on Redfin.com
785 W Spaniel Dr, Ann Arbor, MI 48108
- Price: $498,990
- 2 bedrooms, 2 bathrooms
- Square feet: 1,683
- See 785 W Spaniel Dr, Ann Arbor, MI 48108 on Redfin.com
603 Woodland Dr, Dexter, MI 48130
- Price: $497,500
- 2 bedrooms, 2 bathrooms
- Square feet: 1,519
- See 603 Woodland Dr, Dexter, MI 48130 on Redfin.com
1431 Hatcher Cres, Ann Arbor, MI 48103
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,500
- See 1431 Hatcher Cres, Ann Arbor, MI 48103 on Redfin.com
827 Asa Gray Dr, Ann Arbor, MI 48105
- Price: $495,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,274
- See 827 Asa Gray Dr, Ann Arbor, MI 48105 on Redfin.com
827 Westwood Ave, Ann Arbor, MI 48103
- Price: $499,900
- 1 bedroom, 2.5 bathrooms
- Square feet: 1,086
- See 827 Westwood Ave, Ann Arbor, MI 48103 on Redfin.com
111 N Ashley St, Ann Arbor, MI 48104
- Price: $499,000
- 1 bedroom, 1 bathroom
- Square feet: 570
- See 111 N Ashley St, Ann Arbor, MI 48104 on Redfin.com
