Housing News

How Much Home Can $400,000 Buy You Across the Country?

Real estate is all about location, for good reason. Home prices vary—wildly—across the country.  Even within the same communities, similarly sized homes can be listed for much more, or less, depending on the address.

The typical home in America cost a median $401,600 as of April 30, according to the most recent Zillow data. That amount may not get you much square footage in some of the priciest parts of the U.S.—while it may buy you a castle (literally) in others.

So, what kind of home will $400,000 buy across the nation? Keep reading to find out.

1. Brick Colonial in Detroit

Address: 2009 Edison St., Detroit

List price: $399,000

Bedrooms: 5

Bathrooms: 3

Estimated Monthly Payment: $2,740

Built in 1917, this stunning, brick Colonial spans 3,300 square feet in Detroit’s desirable Boston-Edison district. The home has been updated with modern touches but still has preserved hardwood flooring and some original details. It also comes with a deck, patio, and a two-car garage.

2. One-bedroom unit in New York City

(Some images have been virtually staged.)

Address: 4489 Broadway, Apt. 7B, New York City

List price: $399,000

Bedrooms: 1

Bathrooms: 1

Estimated Monthly Payment: $3,167*

This one-bedroom, top-floor co-op comes with a dishwasher, hardwood floors, and Eastern- and Southern-facing windows that block out noise. The building, constructed in 1951, has an elevator and a shared laundry room and is located near a park and a subway station in the upper Manhattan neighborhood of Washington Heights.

3. Castle in South Carolina

Address: 216 Ashmore Rd., Greer, S.C.

List price: $399,900

Bedrooms: 3

Bathrooms: 4

Estimated Monthly Payment: $2,376

If you’ve always dreamed of living in your own castle, this 2,622-square-foot home on 1.2 acres might be for you. Just outside of Greenville, S.C., the home features a new kitchen with granite countertops, a wraparound porch, and a deck. The property is private, located at the end of the road, and is not part of a homeowner association.

* The monthly mortgage payment assumes buyers put 20% of the list price down with a mortgage interest rate of 6.8%.