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Homes: What you can buy for $400,000

Photo courtesy of Zillow

Even though $400,000 is more than twice the current median value of homes in the U.S., in major metropolitan areas, it won't even buy you a home.

If you're hoping to buy in cities like Boston, Chicago, San Diego or New York, you'll likely be relegated to condos -- albeit fairly decent condos with walk-in closets and stainless steel appliances.

Buyers who want more bang for their buck can head to places like Oklahoma City, where $400,000 will buy 3,535 square feet, four bedrooms, almost an acre of land and a three-car garage. There's also Cincinnati, where it'll buy 1,528 square feet, three bedrooms, a sunroom and a large deck.

Here are 10 homes for $400,000 in cities across the country.

San Diego

Photo courtesy of Zillow

A buyer with $400,000 in Central San Diego could purchase this 725-square-foot studio condo with one bathroom, which went on the market in March. It's less expensive than the nearly $500,000 median home value in the area.

San Diego

Photo courtesy of Zillow

The unit, which is in a building constructed in 1996, features marble flooring, a walk-in closet (which holds 65 pairs of shoes, according to the listing), floor-to-ceiling windows, granite countertops, stainless steel appliances, access to a fitness center and one parking space.

Atlanta

Photo courtesy of Zillow

This three-bedroom, two-bathroom bungalow in the Kirkwood neighborhood of Atlanta hit the market this month for $400,000. It last sold for $295,000 in 2006, showing a significant increase in value over the past nine years. Its current price is more expensive than the $255,300 median home value in the area.

Atlanta

Photo courtesy of Zillow

The one-story, 1,616-square foot home has hardwood flooring, plantation shutters, stainless steel appliances, granite countertops, a deck, walk-in closet, jetted bathtub, fenced backyard, front porch and laundry room.

Miami

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This one-bedroom, one-bathroom, 732-square-foot condo in downtown Miami went on the market for $400,000 last month -- about $42,100 less than the median home value in the area. Since September 2012, it has been rented out for $2,300 per month. The last time it sold was September 2010, when it went for about $285,000.

Miami

Photo courtesy of Zillow

The unit has views of the bay and Atlantic Ocean, comes furnished and features floor-to-ceiling windows, marble flooring, a walk-in closet, in-unit laundry and a balcony. It also comes with access to a pool, fitness center and one garage parking space.

Chicago

Photo courtesy of Zillow

In the Near West Side/University Village neighborhood of Chicago, this two-bedroom, two-bathroom condo with 12-foot ceilings is on the market for $400,000. It was last listed for $449,700 in June 2008 -- a rough year for real estate -- and was taken off the market in December after two price reductions had it for sale at $439,500. It's more than twice as expensive as the $182,200 median home value in the area.

Chicago

Photo courtesy of Zillow

The 1,500-square-foot unit has hardwood flooring, in-unit laundry, granite countertops, stainless steel appliances, floor-to-ceiling windows, an open floor plan, a breakfast bar, balcony and access to a fitness center, pool and "party room."

Oklahoma City

Photo courtesy of Zillow

This four-bedroom, four-bathroom, French-style traditional home in Southwest Oklahoma City went on the market for $400,000 earlier this month, a minor increase from its last $381,000 selling price in December 2013. It's considerably more expensive than the current median home value in the area, which is approximately $228,000.

Oklahoma City

Photo courtesy of Zillow

The 3,535-square-foot property, which was built in 2006 and sits on 0.81 acres of land, features plantation shutters, stainless steel appliances, a media room, walk-in closet, barbecue, jetted bathtub, fireplace, porch, security system and three-car garage.

Boston

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This three-bedroom, one-bathroom, 1,368-square-foot, 1950s condo in the West Roxbury neighborhood of Boston went on the market for $400,000 this month. The price is almost in-line with the median home value in the area, which is currently at $467,700, according to Zillow.

Boston

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It is in a one-story brick bungalow, and has a one-car garage, deck, patio, hardwood flooring, open floor plan, wood-burning stove in the den and in-unit laundry.

New Orleans

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In the Milan subdivision of New Orleans, $400,000 will buy this 1,619-square-foot, three-bedroom, two-bathroom Victorian-style home. It was first listed last month for about $425,000 -- which is pretty close to the median home value in the area -- but has had its price changed three times since. It last sold for $260,000 in May 2011, making its current price an almost 54 percent increase, if the owners can get it.

New Orleans

Photo courtesy of Zillow

The yellow-green cottage, which was built in 1905, has stainless steel appliances, exposed brick, hardwood flooring, a claw-foot bathtub, breakfast bar, walk-in closet, decorative mantel and backyard patio.

Portland

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This two-bedroom, one-bathroom, one-story home in the Overlook neighborhood of Portland was listed last month for $435,000 and has had two price reductions before reaching the current list price of $400,000 -- still more expensive than the $316,800 median home value in the area. It last sold for about $300,000 in February 2010.

Portland

Photo courtesy of Zillow

The 1,664-square-foot, 1920s property has a fireplace, hardwood flooring, deck and patio, skylight, unfinished basement, two-car garage and attic.

Cincinnati

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A buyer in the Mount Lookout neighborhood of Cincinnati could get this three-bedroom, two-bathroom Tudor house for $400,000, which went on the market in March. It last sold for $348,000 in September 2011, meaning its price has increased approximately 15 percent in a little less than four years. The property isn't much more expensive than the $330,600 median home value in the area.

Cincinnati

Photo courtesy of Zillow

The 1,528-square-foot property was built in 1931 and sits on a 6,011-square-foot lot. It features a deck, hardwood flooring, sunroom, breakfast nook, laundry room and stainless steel appliances.

New York

Photo courtesy of Zillow

This one-bathroom, 550-square-foot studio co-op on the Upper West Side of New York City was listed this month for $400,000. It's less than half as expensive as the current median home value in the area, which is approximately $1.1 million.

New York

Photo courtesy of Zillow

The unit is in a pre-war brick building with an elevator and features a sunken living room, hardwood flooring, some built-in shelving, small kitchen and access to bike storage and laundry facilities.

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