Homes: What you can buy for $250,000

  • Photo courtesy of Zillow

    A quarter of a million dollars is a popular price point for newly-constructed properties these days.

    Homes for $250,000 are a bit more expensive than the median home value in the U.S., which is currently just over $180,000, according to Zillow. In large U.S. cities like New York and Los Angeles, homebuyers may find that $250,000 properties have slightly more history. But in mid-sized markets like New Orleans and Portland, they'll probably find a lot more quarter-million-dollar houses and condos that have popped up within the last five or 10 years.

    Homes for sale at this price often have features that the market has adopted as standard. Things that were once considered luxurious, like stainless steel appliances, granite countertops, kitchen islands and exposed brick, are now pretty normal with a budget between $200,000 and $300,000.

    Take a look at what $250,000 will buy in 10 cities across the country.

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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.