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?