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

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 Rochester, Minnesota?

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

202 Winona St Se, Chatfield, MN 55923
- Price: $499,900
- 6 bedrooms, 3.5 bathrooms
- Square feet: 4,001
- See 202 Winona St Se, Chatfield, MN 55923 on Redfin.com

5182 Southern Ridge Ln Sw, Rochester, MN 55902
- Price: $497,000
- 5 bedrooms, 3.3 bathrooms
- Square feet: 3,700
- See 5182 Southern Ridge Ln Sw, Rochester, MN 55902 on Redfin.com

4594 Buckingham Dr Nw, Rochester, MN 55901
- Price: $499,900
- 5 bedrooms, 2.5 bathrooms
- Square feet: 2,808
- See 4594 Buckingham Dr Nw, Rochester, MN 55901 on Redfin.com

511 E Center St, Rochester, MN 55904
- Price: $500,000
- 5 bedrooms, 2 bathrooms
- Square feet: 2,802
- See 511 E Center St, Rochester, MN 55904 on Redfin.com

3479 Hart Ln Sw, Rochester, MN 55902
- Price: $485,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,505
- See 3479 Hart Ln Sw, Rochester, MN 55902 on Redfin.com

1842 4Th St Ne, Byron, MN 55920
- Price: $489,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,140
- See 1842 4Th St Ne, Byron, MN 55920 on Redfin.com

3669 Meadow Sage Ct Se, Rochester, MN 55904
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,058
- See 3669 Meadow Sage Ct Se, Rochester, MN 55904 on Redfin.com

3585 Bridgeview Dr Se, Rochester, MN 55904
- Price: $500,000
- 4 bedrooms, 2.8 bathrooms
- Square feet: 2,412
- See 3585 Bridgeview Dr Se, Rochester, MN 55904 on Redfin.com

1806 Brandt Dr Ne, Byron, MN 55920
- Price: $494,900
- 4 bedrooms, 2.8 bathrooms
- Square feet: 2,305
- See 1806 Brandt Dr Ne, Byron, MN 55920 on Redfin.com

1877 Robinson Ln, Byron, MN 55920
- Price: $494,480
- 4 bedrooms, 2.8 bathrooms
- Square feet: 2,218
- See 1877 Robinson Ln, Byron, MN 55920 on Redfin.com

6238 Cody Pl Nw, Rochester, MN 55901
- Price: $498,000
- 4 bedrooms, 2.8 bathrooms
- Square feet: 1,864
- See 6238 Cody Pl Nw, Rochester, MN 55901 on Redfin.com

1644 Brandt Dr Ne, Byron, MN 55920
- Price: $479,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,686
- See 1644 Brandt Dr Ne, Byron, MN 55920 on Redfin.com

914 Milborne Ln Nw, Rochester, MN 55901
- Price: $499,880
- 4 bedrooms, 2.3 bathrooms
- Square feet: 2,271
- See 914 Milborne Ln Nw, Rochester, MN 55901 on Redfin.com

6230 Cody Pl Nw, Rochester, MN 55901
- Price: $489,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,828
- See 6230 Cody Pl Nw, Rochester, MN 55901 on Redfin.com

11275 Wisdom Ct Se, Chatfield, MN 55923
- Price: $499,500
- 3 bedrooms, 2 bathrooms
- Square feet: 3,147
- See 11275 Wisdom Ct Se, Chatfield, MN 55923 on Redfin.com

1962 Fieldstone Rd Sw, Rochester, MN 55902
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,809
- See 1962 Fieldstone Rd Sw, Rochester, MN 55902 on Redfin.com

915 1St St Nw, Oronoco, MN 55960
- Price: $489,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,716
- See 915 1St St Nw, Oronoco, MN 55960 on Redfin.com

1422 Woodland Way, Lake City, MN 55041
- Price: $499,000
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,795
- See 1422 Woodland Way, Lake City, MN 55041 on Redfin.com

5492 Ridgeview Dr Nw, Rochester, MN 55901
- Price: $484,500
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,708
- See 5492 Ridgeview Dr Nw, Rochester, MN 55901 on Redfin.com

1289 White Bridge Rd Nw, Oronoco, MN 55960
- Price: $495,000
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,638
- See 1289 White Bridge Rd Nw, Oronoco, MN 55960 on Redfin.com

239 Stonelake Dr Se, Rochester, MN 55904
- Price: $479,900
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,383
- See 239 Stonelake Dr Se, Rochester, MN 55904 on Redfin.com

1847 4Th St Ne, Byron, MN 55920
- Price: $478,900
- 3 bedrooms, 1.8 bathrooms
- Square feet: 1,328
- See 1847 4Th St Ne, Byron, MN 55920 on Redfin.com

519 E Center St, Rochester, MN 55904
- Price: $500,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,745
- See 519 E Center St, Rochester, MN 55904 on Redfin.com

864 Bucknell Ln Se, Stewartville, MN 55976
- Price: $489,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,601
- See 864 Bucknell Ln Se, Stewartville, MN 55976 on Redfin.com

1310 Falstone Alcove Ne, Byron, MN 55920
- Price: $499,900
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,653
- See 1310 Falstone Alcove Ne, Byron, MN 55920 on Redfin.com

1202 15Th St Ne, Kasson, MN 55944
- Price: $499,900
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,605
- See 1202 15Th St Ne, Kasson, MN 55944 on Redfin.com

1893 Hadley Hills Dr Ne, Rochester, MN 55906
- Price: $489,900
- 2 bedrooms, 1.8 bathrooms
- Square feet: 1,252
- See 1893 Hadley Hills Dr Ne, Rochester, MN 55906 on Redfin.com

12023 Highway 30 Se, Chatfield, MN 55923
- Price: $490,000
- 2 bedrooms, 1.3 bathrooms
- Square feet: 2,119
- See 12023 Highway 30 Se, Chatfield, MN 55923 on Redfin.com

515 E Center St, Rochester, MN 55904
- Price: $500,000
- 2 bedrooms, 1 bathroom
- Square feet: 1,316
- See 515 E Center St, Rochester, MN 55904 on Redfin.com

303 S Lakeshore Dr, Lake City, MN 55041
- Price: $499,900
- 1 bedroom, 0.8 bathrooms
- Square feet: 1,200
- See 303 S Lakeshore Dr, Lake City, MN 55041 on Redfin.com