Homes: What you can buy for around $500,000

  • Atlanta, Georgia

    Photo courtesy of Zillow

    This two-bedroom, two-bathroom Atlanta bungalow in the Virginia Highlands subdivision is on the market for $489,000. It last sold for $343,900 in 2006. The home costs a bit less than the area's median value of $568,700, which Zillow predicts will rise an additional 3.3 percent this year, but it's more comparable to nearby homes that have recently sold for an average of around $519,000.

    It features a fireplace, attic, one-car garage, screened porch, two-floor deck, an unfinished basement, hardwood flooring and an updated kitchen.

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    Ilyce R. Glink is an award-winning, nationally-syndicated columnist, best-selling book author and founder of Best Money Moves, an employee benefit program that helps reduce financial stress. She also owns ThinkGlink.com, where readers can find real estate and personal finance resources.