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

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 Lima?

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

14101 Allentown Rd, Spencerville, OH 45887
- Price: $425,000
- 6 bedrooms, 3 bathrooms
- Square feet: 5,176
- See 14101 Allentown Rd, Spencerville, OH 45887 on Redfin.com

200 Fraunfelter Rd S, Lima, OH 45807
- Price: $499,900
- 5 bedrooms, 3.5 bathrooms
- Square feet: 5,232
- See 200 Fraunfelter Rd S, Lima, OH 45807 on Redfin.com

1630 W Market St, Lima, OH 45805
- Price: $410,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 4,140
- See 1630 W Market St, Lima, OH 45805 on Redfin.com

6381 Mcpheron Rd, Lima, OH 45804
- Price: $400,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,548
- See 6381 Mcpheron Rd, Lima, OH 45804 on Redfin.com

2979 Sands Rd, Lima, OH 45805
- Price: $459,900
- 4 bedrooms, 4 bathrooms
- Square feet: 3,311
- See 2979 Sands Rd, Lima, OH 45805 on Redfin.com

6487 Mickelson Ln, Lima, OH 45801
- Price: $495,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,333
- See 6487 Mickelson Ln, Lima, OH 45801 on Redfin.com

3466 London Dr, Lima, OH 45805
- Price: $329,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,232
- See 3466 London Dr, Lima, OH 45805 on Redfin.com

7320 Lehman Rd, Delphos, OH 45833
- Price: $450,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,837
- See 7320 Lehman Rd, Delphos, OH 45833 on Redfin.com

3128 Clifford Dr, Lima, OH 45805
- Price: $389,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,796
- See 3128 Clifford Dr, Lima, OH 45805 on Redfin.com

2280 W Spring St, Lima, OH 45805
- Price: $330,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,678
- See 2280 W Spring St, Lima, OH 45805 on Redfin.com

3798 Kissing Hollow Dr, Lima, OH 45801
- Price: $449,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,528
- See 3798 Kissing Hollow Dr, Lima, OH 45801 on Redfin.com

2705 Carolyn Dr, Lima, OH 45807
- Price: $385,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,501
- See 2705 Carolyn Dr, Lima, OH 45807 on Redfin.com

2632 Alexandria Dr, Lima, OH 45805
- Price: $449,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,420
- See 2632 Alexandria Dr, Lima, OH 45805 on Redfin.com

800 Heritage Dr, Lima, OH 45804
- Price: $330,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,291
- See 800 Heritage Dr, Lima, OH 45804 on Redfin.com

1424 Loch Loman Way, Lima, OH 45805
- Price: $345,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 1,856
- See 1424 Loch Loman Way, Lima, OH 45805 on Redfin.com

461 Riverbend Dr, Bluffton, OH 45817
- Price: $459,000
- 3 bedrooms, 3 bathrooms
- Square feet: 2,250
- See 461 Riverbend Dr, Bluffton, OH 45817 on Redfin.com

7 Estate Dr, Lima, OH 45805
- Price: $469,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 3,200
- See 7 Estate Dr, Lima, OH 45805 on Redfin.com

2297 June Dr, Lima, OH 45805
- Price: $389,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,504
- See 2297 June Dr, Lima, OH 45805 on Redfin.com

1784 Woodberry Creek Dr, Lima, OH 45807
- Price: $450,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,941
- See 1784 Woodberry Creek Dr, Lima, OH 45807 on Redfin.com

128 Tolowa Trl, Lima, OH 45805
- Price: $345,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,824
- See 128 Tolowa Trl, Lima, OH 45805 on Redfin.com

6875 Ridge Rd, Elida, OH 45807
- Price: $349,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,556
- See 6875 Ridge Rd, Elida, OH 45807 on Redfin.com

3687 Comanche Dr, Lima, OH 45807
- Price: $425,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,987
- See 3687 Comanche Dr, Lima, OH 45807 on Redfin.com

2586 Gaithersburg Dr, Lima, OH 45805
- Price: $489,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,976
- See 2586 Gaithersburg Dr, Lima, OH 45805 on Redfin.com

1734 Woodberry Creek Dr, Lima, OH 45807
- Price: $389,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,852
- See 1734 Woodberry Creek Dr, Lima, OH 45807 on Redfin.com

3467 Weldon Dr, Lima, OH 45806
- Price: $374,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,782
- See 3467 Weldon Dr, Lima, OH 45806 on Redfin.com

4250 Diller Rd, Lima, OH 45807
- Price: $399,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,765
- See 4250 Diller Rd, Lima, OH 45807 on Redfin.com

1370 E Bluelick Rd, Lima, OH 45801
- Price: $385,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,594
- See 1370 E Bluelick Rd, Lima, OH 45801 on Redfin.com

3549 Camden Pl, Lima, OH 45806
- Price: $329,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,575
- See 3549 Camden Pl, Lima, OH 45806 on Redfin.com

3080 E Hanthorn Rd, Lima, OH 45804
- Price: $329,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,539
- See 3080 E Hanthorn Rd, Lima, OH 45804 on Redfin.com

6476 Mickelson Ln, Lima, OH 45801
- Price: $449,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,905
- See 6476 Mickelson Ln, Lima, OH 45801 on Redfin.com