How much house does $500,000 buy you in Mankato?
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 Mankato?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Mankato right now. Listings below $500,000 were included if necessary.
1002 Oak Terrace Dr, North Mankato, MN 56003
- Price: $429,000
- 5 bedrooms, 4.3 bathrooms
- Square feet: 3,388
- See 1002 Oak Terrace Dr, North Mankato, MN 56003 on Redfin.com
402 Cedar St, Nicollet, MN 56074
- Price: $419,900
- 5 bedrooms, 3.3 bathrooms
- Square feet: 3,792
- See 402 Cedar St, Nicollet, MN 56074 on Redfin.com
2326 Snowbird Ln, North Mankato, MN 56003
- Price: $490,643
- 5 bedrooms, 3.3 bathrooms
- Square feet: 3,682
- See 2326 Snowbird Ln, North Mankato, MN 56003 on Redfin.com
1577 Sherwood Dr, North Mankato, MN 56003
- Price: $422,500
- 5 bedrooms, 3.3 bathrooms
- Square feet: 3,617
- See 1577 Sherwood Dr, North Mankato, MN 56003 on Redfin.com
14 Eagle Ridge Ct, North Mankato, MN 56003
- Price: $469,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,952
- See 14 Eagle Ridge Ct, North Mankato, MN 56003 on Redfin.com
720 Madison St, Saint Peter, MN 56082
- Price: $437,000
- 5 bedrooms, 2.8 bathrooms
- Square feet: 3,260
- See 720 Madison St, Saint Peter, MN 56082 on Redfin.com
117 La Costa Ct, Mankato, MN 56001
- Price: $459,900
- 5 bedrooms, 2.8 bathrooms
- Square feet: 3,116
- See 117 La Costa Ct, Mankato, MN 56001 on Redfin.com
225 Pinehurst Dr, Mankato, MN 56001
- Price: $495,000
- 5 bedrooms, 2.8 bathrooms
- Square feet: 2,856
- See 225 Pinehurst Dr, Mankato, MN 56001 on Redfin.com
147 Waynesborough Way, Mankato, MN 56001
- Price: $410,000
- 5 bedrooms, 2 bathrooms
- Square feet: 2,876
- See 147 Waynesborough Way, Mankato, MN 56001 on Redfin.com
125 Thissen Ct, Mankato, MN 56001
- Price: $494,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,651
- See 125 Thissen Ct, Mankato, MN 56001 on Redfin.com
32 Edgewood Cir, North Mankato, MN 56003
- Price: $425,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,420
- See 32 Edgewood Cir, North Mankato, MN 56003 on Redfin.com
216 Southbrook Cir, Mankato, MN 56001
- Price: $485,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,144
- See 216 Southbrook Cir, Mankato, MN 56001 on Redfin.com
101 N Duck Lake Ave, Madison Lake, MN 56063
- Price: $425,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,219
- See 101 N Duck Lake Ave, Madison Lake, MN 56063 on Redfin.com
1641 La Mar Dr, North Mankato, MN 56003
- Price: $450,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,920
- See 1641 La Mar Dr, North Mankato, MN 56003 on Redfin.com
106 Tami Ln, Mankato, MN 56001
- Price: $429,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,698
- See 106 Tami Ln, Mankato, MN 56001 on Redfin.com
101 La Costa Ln, Mankato, MN 56001
- Price: $400,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,614
- See 101 La Costa Ln, Mankato, MN 56001 on Redfin.com
100 Emily Ln, Mankato, MN 56001
- Price: $419,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,430
- See 100 Emily Ln, Mankato, MN 56001 on Redfin.com
1030 Oak Terrace Dr, North Mankato, MN 56003
- Price: $474,000
- 4 bedrooms, 2.3 bathrooms
- Square feet: 2,898
- See 1030 Oak Terrace Dr, North Mankato, MN 56003 on Redfin.com
1810 Mary Ln, North Mankato, MN 56003
- Price: $449,900
- 4 bedrooms, 2.3 bathrooms
- Square feet: 2,415
- See 1810 Mary Ln, North Mankato, MN 56003 on Redfin.com
409 Grayhawk Dr, Mankato, MN 56001
- Price: $418,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,401
- See 409 Grayhawk Dr, Mankato, MN 56001 on Redfin.com
11197 608Th Ave, Minnesota Lake, MN 56068
- Price: $455,000
- 4 bedrooms, 1.8 bathrooms
- Square feet: 3,151
- See 11197 608Th Ave, Minnesota Lake, MN 56068 on Redfin.com
912 Three Lakes Ct, Madison Lake, MN 56063
- Price: $489,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,558
- See 912 Three Lakes Ct, Madison Lake, MN 56063 on Redfin.com
1813 Bluestem Dr, Mankato, MN 56001
- Price: $419,000
- 3 bedrooms, 2.3 bathrooms
- Square feet: 2,564
- See 1813 Bluestem Dr, Mankato, MN 56001 on Redfin.com
105 Bear Path Dr, Mankato, MN 56001
- Price: $479,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,722
- See 105 Bear Path Dr, Mankato, MN 56001 on Redfin.com
904 Three Lakes Ct, Madison Lake, MN 56063
- Price: $485,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,495
- See 904 Three Lakes Ct, Madison Lake, MN 56063 on Redfin.com
286 Three Lakes Dr, Madison Lake, MN 56063
- Price: $432,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,466
- See 286 Three Lakes Dr, Madison Lake, MN 56063 on Redfin.com
288 Three Lakes Dr, Madison Lake, MN 56063
- Price: $465,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,345
- See 288 Three Lakes Dr, Madison Lake, MN 56063 on Redfin.com
814 Pinnacle Path, Mankato, MN 56001
- Price: $459,000
- 2 bedrooms, 2.5 bathrooms
- Square feet: 2,246
- See 814 Pinnacle Path, Mankato, MN 56001 on Redfin.com
215 Parkway Pl, Mankato, MN 56001
- Price: $456,000
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,674
- See 215 Parkway Pl, Mankato, MN 56001 on Redfin.com
618 Doran Dr, Madison Lake, MN 56063
- Price: $425,000
- 2 bedrooms, 1 bathroom
- Square feet: 880
- See 618 Doran Dr, Madison Lake, MN 56063 on Redfin.com
