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

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 Madison?

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

1007 Eric Ln, Waunakee, WI 53597
- Price: $499,900
- 5 bedrooms, 3.5 bathrooms
- Square feet: 2,184
- See 1007 Eric Ln, Waunakee, WI 53597 on Redfin.com

15 Naylor Cir, Madison, WI 53719
- Price: $499,900
- 5 bedrooms, 3 bathrooms
- Square feet: 2,814
- See 15 Naylor Cir, Madison, WI 53719 on Redfin.com

612 Trotter Dr, Mount Horeb, WI 53572
- Price: $500,000
- 5 bedrooms, 3 bathrooms
- Square feet: 2,758
- See 612 Trotter Dr, Mount Horeb, WI 53572 on Redfin.com

N2728 Paradise Rd, Lodi, WI 53555
- Price: $499,900
- 4 bedrooms, 4 bathrooms
- Square feet: 3,350
- See N2728 Paradise Rd, Lodi, WI 53555 on Redfin.com

141 Merry Christmas Ln, Mineral Point, WI 53565
- Price: $499,900
- 4 bedrooms, 4 bathrooms
- Square feet: 2,400
- See 141 Merry Christmas Ln, Mineral Point, WI 53565 on Redfin.com

400 Mourning Dove Ct, Arena, WI 53503
- Price: $499,999
- 4 bedrooms, 3 bathrooms
- Square feet: 3,069
- See 400 Mourning Dove Ct, Arena, WI 53503 on Redfin.com

706 Amnicon Trl, Madison, WI 53718
- Price: $499,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,051
- See 706 Amnicon Trl, Madison, WI 53718 on Redfin.com

W12105 Jenicek Rd, Portage, WI 53901
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,703
- See W12105 Jenicek Rd, Portage, WI 53901 on Redfin.com

410 University Ln, Mazomanie, WI 53560
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,228
- See 410 University Ln, Mazomanie, WI 53560 on Redfin.com

343 Wild Rose Way, Stoughton, WI 53589
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,032
- See 343 Wild Rose Way, Stoughton, WI 53589 on Redfin.com

906 E Gorham St, Madison, WI 53703
- Price: $499,900
- 4 bedrooms, 2 bathrooms
- Square feet: 1,550
- See 906 E Gorham St, Madison, WI 53703 on Redfin.com

402 Concord Dr, Oregon, WI 53575
- Price: $500,000
- 3 bedrooms, 3 bathrooms
- Square feet: 2,880
- See 402 Concord Dr, Oregon, WI 53575 on Redfin.com

3392 Swinburne Dr, Mcfarland, WI 53558
- Price: $499,900
- 3 bedrooms, 3 bathrooms
- Square feet: 2,827
- See 3392 Swinburne Dr, Mcfarland, WI 53558 on Redfin.com

4821 Lacy Rd, Fitchburg, WI 53711
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,995
- See 4821 Lacy Rd, Fitchburg, WI 53711 on Redfin.com

5924 Woodbine Dr, Madison, WI 53718
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,872
- See 5924 Woodbine Dr, Madison, WI 53718 on Redfin.com

2208 W Milwaukee St, Stoughton, WI 53589
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,838
- See 2208 W Milwaukee St, Stoughton, WI 53589 on Redfin.com

710 Sugar Maple Ln, Verona, WI 53593
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,794
- See 710 Sugar Maple Ln, Verona, WI 53593 on Redfin.com

4302 Beilfuss Dr, Madison, WI 53704
- Price: $500,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,780
- See 4302 Beilfuss Dr, Madison, WI 53704 on Redfin.com

6961 Spotted Sandpiper St, Middleton, WI 53562
- Price: $500,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,695
- See 6961 Spotted Sandpiper St, Middleton, WI 53562 on Redfin.com

1668 Star Light Dr, Verona, WI 53593
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,670
- See 1668 Star Light Dr, Verona, WI 53593 on Redfin.com

981 Merri-Hill Dr, , WI
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,615
- See 981 Merri-Hill Dr, , WI on Redfin.com

N5080 Hyland Cir, Monticello, WI 53570
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,168
- See N5080 Hyland Cir, Monticello, WI 53570 on Redfin.com

2168 Winding Stream Way, Sun Prairie, WI 53590
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,713
- See 2168 Winding Stream Way, Sun Prairie, WI 53590 on Redfin.com

709 Cozy Farm Rd, Waunakee, WI 53597
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,713
- See 709 Cozy Farm Rd, Waunakee, WI 53597 on Redfin.com

201 N Owen Dr, Madison, WI 53705
- Price: $499,990
- 3 bedrooms, 2 bathrooms
- Square feet: 1,690
- See 201 N Owen Dr, Madison, WI 53705 on Redfin.com

311 Spoke Cir, Sun Prairie, WI 53590
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,340
- See 311 Spoke Cir, Sun Prairie, WI 53590 on Redfin.com

3625 Cascade Rd, Madison, WI 53704
- Price: $499,900
- 3 bedrooms, 1.5 bathrooms
- Square feet: 2,156
- See 3625 Cascade Rd, Madison, WI 53704 on Redfin.com

18 Glen Arbor Way, Fitchburg, WI 53711
- Price: $500,000
- 2 bedrooms, 3.5 bathrooms
- Square feet: 2,496
- See 18 Glen Arbor Way, Fitchburg, WI 53711 on Redfin.com

614 W Doty St, Madison, WI 53703
- Price: $499,900
- 2 bedrooms, 1.5 bathrooms
- Square feet: 1,092
- See 614 W Doty St, Madison, WI 53703 on Redfin.com