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How much house does $500,000 buy you in The Villages?
$500,000 buys significantly smaller homes as prices more than double since 2014, reducing affordability and slowing the traditionally busy spring and summer markets, Redfin found.
- Redfin Real Estate searched listings near the $500,000 mark to see what homes buyers can afford across Kennewick, Bremerton, Seattle, Walla Walla and Albany, Oregon.
- Back in 2014, spending $500,000 on a house was generally reserved for high earners, but Redfin Real Estate found prices have more than doubled since then.
- U.S. data show the typical home sold for $159,000 while starter homes averaged $101,000, and even the usual busy spring and summer buying seasons were unusually slow this year.
- Many prospective owners find homeownership out of reach due to climbing values, and starter homes are becoming harder to find as home prices rise, creating a sluggish housing market.
- While $500,000 once stretched much further, Redfin Real Estate found local markets vary widely and included listings below $500,000 where necessary to show affordability differences.
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17 Articles
17 Articles
Coverage Details
Total News Sources17
Leaning Left4Leaning Right4Center4Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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