How much house does $500,000 buy you in Detroit?
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 Detroit?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Detroit right now. Listings below $500,000 were included if necessary.
17352 Parkside St, Detroit, MI 48221
- Price: $499,900
- 6 bedrooms, 4 bathrooms
- Square feet: 3,460
- See 17352 Parkside St, Detroit, MI 48221 on Redfin.com
441 Parkview Dr, Detroit, MI 48214
- Price: $499,900
- 5 bedrooms, 4.5 bathrooms
- Square feet: 2,860
- See 441 Parkview Dr, Detroit, MI 48214 on Redfin.com
1667 Edison St, Detroit, MI 48206
- Price: $499,000
- 5 bedrooms, 2.5 bathrooms
- Square feet: 2,569
- See 1667 Edison St, Detroit, MI 48206 on Redfin.com
320 N Sydney Ct, Plymouth, MI 48170
- Price: $499,990
- 4 bedrooms, 4 bathrooms
- Square feet: 2,264
- See 320 N Sydney Ct, Plymouth, MI 48170 on Redfin.com
852 E Grand Blvd, Detroit, MI 48207
- Price: $500,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,076
- See 852 E Grand Blvd, Detroit, MI 48207 on Redfin.com
1646 Chicago Blvd, Detroit, MI 48206
- Price: $499,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,783
- See 1646 Chicago Blvd, Detroit, MI 48206 on Redfin.com
1425 Bishop Rd, Grosse Pointe Park, MI 48230
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,133
- See 1425 Bishop Rd, Grosse Pointe Park, MI 48230 on Redfin.com
42384 Gateway Dr, Plymouth, MI 48170
- Price: $495,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,030
- See 42384 Gateway Dr, Plymouth, MI 48170 on Redfin.com
18902 Westmore St, Livonia, MI 48152
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,356
- See 18902 Westmore St, Livonia, MI 48152 on Redfin.com
22740 Cleveland St, Dearborn, MI 48124
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,230
- See 22740 Cleveland St, Dearborn, MI 48124 on Redfin.com
11801 Hines Place Dr, Livonia, MI 48150
- Price: $500,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,000
- See 11801 Hines Place Dr, Livonia, MI 48150 on Redfin.com
22651 Garrison St, Dearborn, MI 48124
- Price: $499,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,272
- See 22651 Garrison St, Dearborn, MI 48124 on Redfin.com
51275 7 Mile Rd, Northville, MI 48167
- Price: $495,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,000
- See 51275 7 Mile Rd, Northville, MI 48167 on Redfin.com
37557 Newburgh Park Cir, Livonia, MI 48152
- Price: $499,900
- 3 bedrooms, 3.5 bathrooms
- Square feet: 3,198
- See 37557 Newburgh Park Cir, Livonia, MI 48152 on Redfin.com
7115 Steadman St, Dearborn, MI 48126
- Price: $499,500
- 3 bedrooms, 3.5 bathrooms
- Square feet: 1,874
- See 7115 Steadman St, Dearborn, MI 48126 on Redfin.com
23330 Tumbleweed Ln, Brownstown Twp, MI 48183
- Price: $499,900
- 3 bedrooms, 3 bathrooms
- Square feet: 3,414
- See 23330 Tumbleweed Ln, Brownstown Twp, MI 48183 on Redfin.com
0001 Martinsville St, Belleville, MI 48111
- Price: $495,180
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,228
- See 0001 Martinsville St, Belleville, MI 48111 on Redfin.com
81 Moross Rd, Grosse Pointe Farms, MI 48236
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,062
- See 81 Moross Rd, Grosse Pointe Farms, MI 48236 on Redfin.com
20209 Sunset St, Livonia, MI 48152
- Price: $499,986
- 3 bedrooms, 2 bathrooms
- Square feet: 1,823
- See 20209 Sunset St, Livonia, MI 48152 on Redfin.com
27853 Johnson Rd, Grosse Ile, MI 48138
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,750
- See 27853 Johnson Rd, Grosse Ile, MI 48138 on Redfin.com
45021 Dunn Rd, Belleville, MI 48111
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,568
- See 45021 Dunn Rd, Belleville, MI 48111 on Redfin.com
35344 Ecorse Rd, Romulus, MI 48174
- Price: $499,000
- 3 bedrooms, 1 bathroom
- Square feet: 1,322
- See 35344 Ecorse Rd, Romulus, MI 48174 on Redfin.com
2645 Brush St, Detroit, MI 48201
- Price: $500,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,500
- See 2645 Brush St, Detroit, MI 48201 on Redfin.com
2840 John R St, Detroit, MI 48201
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,450
- See 2840 John R St, Detroit, MI 48201 on Redfin.com
1135 Shelby St, Detroit, MI 48226
- Price: $499,995
- 2 bedrooms, 2 bathrooms
- Square feet: 1,405
- See 1135 Shelby St, Detroit, MI 48226 on Redfin.com
1135 Shelby St, Detroit, MI 48226
- Price: $499,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,162
- See 1135 Shelby St, Detroit, MI 48226 on Redfin.com
438 Selden St, Detroit, MI 48201
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,148
- See 438 Selden St, Detroit, MI 48201 on Redfin.com
1748 Ferry Park St, Detroit, MI 48208
- Price: $495,000
- 1 bedroom, 1 bathroom
- Square feet: 946
- See 1748 Ferry Park St, Detroit, MI 48208 on Redfin.com
17517 W Outer Dr, Dearborn Heights, MI 48127
- Price: $499,000
- 1 bedroom, 1 bathroom
- Square feet: 100
- See 17517 W Outer Dr, Dearborn Heights, MI 48127 on Redfin.com
