What $500,000 Buys You in Chicago vs. Other Major U.S. Cities (2025 Edition)

Ever wondered what half a million dollars gets you across the country? Spoiler: In Chicago, you get a lot more bang for your buck. Let’s take a tour and see how Chicago stacks up against New York, LA, Miami, and more!

Chicago, IL

$500,000 Budget = 2–3 Bedroom Condo or Single Family Home (1,400–2,000 sq ft)

• Modern kitchen, in-unit laundry, and parking spot? Absolutely.

• Walk to restaurants, parks, and public transit in neighborhoods like Lakeview, Lincoln Square, or the South Loop.

• Sometimes even a small backyard!

Sample: 2 Bed/2 Bath condo in Lakeview, hardwood floors, parking, 1,500 sq ft.

New York City, NY

$500,000 Budget = Studio or Tiny 1-Bedroom (400–600 sq ft)

• Outdoor space? LOL.

• You might get a doorman building in Queens or Brooklyn.

• Manhattan? Only if you like “cozy.”

• Perfect for anyone dreaming of homeownership—and also extreme minimalism.

Sample: Studio in Astoria, 480 sq ft, 2nd floor walk-up, “peekaboo” city views (if you lean out the window).

Los Angeles, CA

$500,000 Budget = Small Condo or Fixer-Upper (700–1,000 sq ft)

• Parking? Maybe.

• Commute? Definitely.

• You’ll get a little more space, but you’ll be driving everywhere.

Sample: 1 Bed/1 Bath condo in North Hollywood, 850 sq ft, communal pool, gated parking.

Miami, FL

$500,000 Budget = Modern Condo (1,000–1,200 sq ft)

• Likely in Downtown or Brickell, with pool access and maybe a gym.

• Possible water view—if you squint and lean.

Sample: 2 Bed/2 Bath condo, 1,100 sq ft, balcony, parking, 10 minutes to the beach.

Austin, TX

$500,000 Budget = Newer Single-Family Home (1,800–2,200 sq ft)

• Modern finishes, backyard, and a garage.

• In a hot neighborhood? Maybe not, but definitely more space.

Sample: 3 Bed/2 Bath home in Pflugerville, 2,000 sq ft, built in 2018, fenced yard.

San Francisco, CA

$500,000 Budget = Don’t Get Your Hopes Up

• Maybe a fraction of a condo, or a “TIC” share.

• Studio in a 100-year-old building, 300–500 sq ft, “vintage charm” (translation: needs work).

• Perfect if you love camping—indoors.

Sample: Studio in Nob Hill, 420 sq ft, street parking, laundry somewhere down the hall.

Why Chicago Wins for Value

When you stack it up, Chicago buyers get more space, more amenities, and a better lifestyle for their money—without sacrificing the big city perks.

Thinking about making a move? Curious what $500,000 can buy you in Chicagoland right now?Contact me today for a customized list of available homes—or just to chat about your real estate goals!