Here's What Kind of Home You Can Get for $200,000 in These Major U.S. Cities
You’ve always wanted to own your own home, and you’ve been socking away what you can from every paycheck for what seems like ages. It's time to put down that down payment, but what can you really get for your hard-earned cash? Using $200,000 as a baseline—just under the $227,700 median home value in the United States, according to Zillow—we took a look at five major cities across the country to see what kind of house that budget would get you in each area. These are actual market listings, so you could scoop one up right now, if you wanted to:
Austin, TX
Several cities in Texas have popped up on “best of” lists on sites like Trulia and Curbed, and some are even in your budget: “In Austin, $200,000 buys a tw0-bedroom condo in the Allandale neighborhood at the southeast edge of the city,” said Constantine Valhouli, Director of Research for NeighborhoodX, a real estate research and analytics firm. If you prefer a house, he mentioned that there are houses in the 1,000 to 1,500-square-foot range available at that price point.
This condo in Austin, TX is on the market for $194,700. The extensively remodeled home has three bedrooms and two baths, clocking in at 967 square feet. A huge draw is all of the new features (which means you don't have to worry about replacing them yourself in a few years), like the windows, doors, water heater, and HVAC system. But that's not all: There's even a pool.
SEE THE LISTING East Yager Lane in Austin, TX
Brooklyn, NY
While there are essentially no listings in the $200,000 range in New York City and most areas of Brooklyn that are close to Manhattan, Valhouli pointed out that you could live in the Gerritsen Beach neighborhood of Brooklyn. “It’s a bit of a commute, but it is at the beach,” he said. As a comparison, he pointed out that $200,000 will only purchase a parking spot in the tony Brooklyn neighborhood of Cobble Hill.
But if you don't mind living in a small place, there's hope. We found a Brooklyn apartment on sale for $199,000 in Bay Ridge Parkway—which is just a 30-minute drive to the city. The apartment is a studio with hardwood floors, two closets, and a very retro yellow-and-black tile bathroom. At 500 square feet, it's small but efficient.
SEE THE LISTING Bay Ridge Parkway in Brooklyn, NY
Columbus, OH
Home of the Ohio State University, Columbus has a large and diverse population. According to Sophie Kaemmerle, communications manager at NeighborWho, a resource for local residential information— if you’re looking to live in Columbus, you will find three- to four-bedroom ranches, multiple story homes and historical homes on up to one-half acre in the $200,000 range.
Well, Kaemmerle was right—we found a two-story, single family home in Columbus, OH on sale for just $175,500. In the 1,680-square-foot home, you'll find three bedrooms and two bathrooms, with an open kitchen and a laundry room. Oh, and there's a spacious backyard with a total lot size (6,970 square feet total). If you buy this house, it looks like you'll be hosting all of the family cookouts for the foreseeable future.
SEE THE LISTING Tealwater Trail Drive in Columbus, OH
Madison, WI
Madison, Wisconsin’s affordability and location (near Lake Michigan) make it an ideal spot to buy a home. “You can get a modest three-bedroom, two-bathroom home with complete updates and over 1,500 square feet of space for under $200,000,” said Kaemmerle. A home like this can be found in a nice neighborhood that is close to schools, parks, shopping and hiking trails.
Currently, there's a three-bedroom, two-bathroom house on the market for $200,000. The adorable ranch takes up 1,281 square feet, and it retains many of its original built-ins. With plenty of land surrounding the house, you could build a tiny guest house, start your own garden, or just put up a hammock and call it a day.
SEE THE LISTING Paus Street in Madison, WI
San Diego, CA
A $200,000 budget in San Diego proper will likely get you “a major fixer upper or a very small studio apartment,” said Kaemmerle. She pointed out that other areas in San Diego County have better options at that price point. In Chula Vista and the outer Eastern suburbs, you can find up to four bedrooms and 2,000 square feet right within that price point.
We found a 304-square-foot condo for $189,000 (not bad, right?). It's a studio, making it a better fit for singles or couples than families, though it does boast a balcony, granite counters, and custom cabinetry, as well as space-saving features, like a built-in desk.
SEE THE LISTING Adelaide Avenue Unit 112 in San Diego, CA
As you can see, the type of home you can buy with $200K varies wildly, depending on where you'd like to live. If you're craving plenty of space, then Columbus, OH might be the place for you. And if you're all about location, location, location—specifically one that's close to the hustle and bustle of the Big Apple—it might be time to pack your bags and head to Brooklyn.
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