What can you buy for around $300,000?

  • Photo: Realtor.com

    In Detroit, $300,000 can buy you six-bedroom home with stained glass windows and a wet bar. In New York, it can buy a low-amenity studio with a small kitchen.

    Since the housing market started recovering two years ago, affordable real estate has rapidly diminished. In places like San Francisco, $300,000 will buy you almost nothing at all. The lowest-priced condos are priced at or above $350,000.

    San Francisco's not alone here: More than half the homes in major American cities are currently unaffordable, based on an analysis by Zillow.

    It's a stark contrast from the way the market looked in 2011 and 2012, when markets bottomed out. Even in more reasonably-priced places like Detroit and Miami, investors, developers and builders are snatching up inexpensive, distressed properties, remodeling them, and then re-selling and renting them out for higher prices. At this rate, affordable may soon mean homes that are just under half a million dollars in many cities.

    So what can you buy for $300,000 these days? And how much have prices increased since the dark days of the housing crisis? Here are 10 properties you can buy for around $300,000 across the country.

    "What Can You Buy" is a series that looks at what type of house and amenities you can get at particular price points in various locations across the U.S. Be sure to check out a few of the other posts in the series: What can you buy for $40,000?, What can you buy for $25,000 (or less)?, What can you buy for $100 million?

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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.