What sort of house can you buy for $300,000? In real estate, the adage remains true: location, location, location. In one city, $300,000 can seem like a king’s ransom, bringing you a 4,000-square-foot dream home. In another, you’re lucky to get 200 square feet and a bathroom.
Point2homes recently conducted a study of what $300,000 will buy in major American cities. Here are some of its findings (homes mentioned are 1,700 square feet, the current median home size in the US):
$300,000 buys four homes in Detroit – or one 7,000-square-foot mansion.
$300,000 buys two homes in Memphis and a 1,000-square-foot condo to boot.
The price of a home in Manhattan would be large enough to pay for similar sized homes in every one of New York City’s outer boroughs – with one in Los Angeles thrown in for good measure.
The price of a home in San Francisco would big enough to pay for similar sized homes in five major cities in neighboring states. And you would “still have cash for a sports car left over,” says Point2homes.
$300,000 buys 867 square feet in Denver, compared to 2,830 square feet in Tucson, AZ, 2,857 square feet in San Antonio, TX, and 2,542 square feet in Colorado Springs, CO.
To compare what $300,000 will buy in a host of US cities, click here.