The current national median home value is $183,500, up about 4 percent since this time last year, according to real estate website Zillow.
Zillow estimates the value of more than 110 million homes in the U.S. to calculate the median, said Svenja Gudell, Zillow's chief economist. The company uses the median, rather than average value, to track the health of the housing market because averages are more easily influenced by extremely expensive and extremely inexpensive homes.
Broadly speaking, markets in coastal areas tend to be more expensive than the median, Gudell said. These markets tends to have higher demand, and the cost of land and construction labor to build new homes is higher, she said.
Metro areas such as Orlando, Florida, ($180,600) and Dallas-Fort Worth ($177,200) have median home values close to the national median, while San Jose, California, ($933,000) and San Francisco ($785,800) are much more expensive. Detroit ($121,800) and Pittsburgh ($126,700) have some of the lowest median home values, according to Zillow.
What you can buy for $185,000 depends greatly on where you look. For example, in Chicago you can buy a two-bedroom, one-bathroom condo with granite countertops. In Milwaukee, you can buy a four-bedroom house with a balcony.
So, what do homes close to the median home value look like? Click ahead to see what you can buy for about $185,000 in 10 cities across the country.
Brooklyn, New York
Brooklyn, New York
The home has tile and hardwood floors, stainless steel appliances, an eat-in kitchen and modern light fixtures. The building also has on-site laundry facilities.
This one-bedroom, one-bathroom unit in the Peachtree Heights West neighborhood of Atlanta is for sale for $183,000. It last sold for $159,900 in November 2014 -- about 87 percent of the current asking price. The property is less than half expensive as the area's median home value of $510,400.
It has a balcony with views of downtown, stainless steel appliances, granite countertops, a dishwasher, a walk-in closet and in-unit laundry. The building also has a swimming pool and an exercise facility.
This two-bedroom, one-bathroom condo in Chicago's Logan Square neighborhood is listed for sale for $185,000. It last sold in March 2008 for $171,500, about 93 percent of the current asking price. It's a little more than half of the area's median home value of $324,200.
The condo has hardwood floors, granite countertops, stainless steel appliances and central air conditioning.
New Orleans, Louisiana
This four-bedroom, 2.5-bathroom house in the Tall Timbers-Brechtel neighborhood of New Orleans is for sale for about $180,000. It last sold for $125,000 in January 2002 and is now priced about 9 percent above the area's median home value of $164,000.
New Orleans, Louisiana
The home has a covered front porch, fireplace, built-in bookshelves, a rear deck and a fenced backyard.
This three-bedroom, two-bathroom house on Fresno's west side is for sale for about $185,000. It last sold in May 2013 for $122,000. It's now about 8 percent less expensive than the area's median home value of $201,300.
The home as a fireplace, tiled countertops, a master suite with a vaulted ceiling and a fenced backyard.
This one-bedroom, one-bathroom condo in North-East Coconut Grove neighborhood of Miami, Florida, is for sale for about $175,000. It last sold in September 2006 for $275,000, just over 1.5 times the current asking price. It later went into foreclosure. The home is less than half the area's median home value of $559,100.
The home has wood laminate floors, granite countertops, stainless steel appliances and a walk-in closet. The building also has a pool and on-site laundry.
This three-bedroom, 1.5-bathroom house in Pittsburgh's Mount Lebanon neighborhood is for sale for $185,000. It last sold in June 2001 for $96,000, a little more than half the current price. The home is 25 percent below the area's median home value of $244,900.
The house has a fireplace, arched doorways, stainless steel appliances, a tiled backsplash, sauna, hot tub, sunroom and large backyard.
This four-bedroom, 1.5-bathroom home in Milwaukee's Bay View neighborhood is for sale for about $185,000. It was last sold in June 2010 for $160,000, about $25,000 less than the current price. The home is about 36 percent more expensive than the area's median home value of $136,200.
The home has hardwood floors, a dining room with a built-in sideboard and leaded glass cabinets, an eat-in kitchen, arched doorways and a master suite with a balcony.
This three-bedroom, two-bathroom house in Phoenix's Deer Valley neighborhood is for sale for about $185,000. It last sold in May 2005 for $175,000 and is now priced slightly above the area's median home value of $178,100.
The house has tiled floors, arched doorways, a covered deck and a landscaped backyard.
This four-bedroom, three-bathroom home in Wichita's Auburn Hills neighborhood is for sale for $185,000. It last sold for $120,550 in August 2000, about 65 percent of the current asking price. It is about 17 percent less expensive than the area's median home value of $223,500.
The home has a three-car garage, a fenced backyard with a deck, hardwood floors, a fireplace, a jetted bathtub and a finished basement.