There is no national real estate market. Costs vary widely — not just from state to state, but also from community to community within a city. But no matter where you are in the country, there’s one trend: Home prices have risen dramatically over the past five years.
The median sales price of an existing home (including any apartment, condo, townhouse or new single-family home not purchased from a builder) was $415,200 in October. That’s up from $271,100 five years ago. Rapidly rising costs have had a dramatic impact on the country: It encourages aspiring first-time buyers to keep renting for longer, makes it harder for new-home families to afford moving, and makes it harder for empty-nesters to downsize.
Read more: Should you buy a house or rent? How to decide.
Those factors could keep home sales hovering near 30-year lows for the third year in a row. But what does it mean to have $415,200 to spend on a home in 2025? We examined listings in some of the largest metropolitan areas across the country. Here is an example.
17 West 64th Street #2E, New York ·street trade
This studio apartment with a separate kitchen is located in a nine-story elevator building in Manhattan’s Lincoln Square neighborhood, just steps from Central Park. The monthly fee of $1,183 includes taxes and building maintenance.
The apartment is located in a 1924 building and features crown molding and hardwood floors. The expected monthly payment (including mortgage and maintenance costs) is $3,216, with a 20% down payment and a mortgage interest rate of 6.2%.
The median sale price for a home in New York City is about $800,000, while the median sale price for a home in Manhattan is nearly $1.2 million.
1100 Wilshire Blvd. Apartment 2805, Los Angeles ·Zillo
In downtown Los Angeles, $420,000 can buy a one-bedroom, one-bathroom apartment on the 28th floor. The 847-square-foot unit includes an open kitchen with granite countertops, stainless steel appliances, and a walk-in closet.
The 1986 building features a 17th-floor observation deck with an infinity pool, spa and cabanas. The building also features a fitness center and screening room. HOA dues are $1,173 per month.
The estimated monthly payment (including mortgage, taxes, insurance and fees) is $3,789, with a 20% down payment and a mortgage interest rate of 6.2%. The median home price in the Los Angeles metropolitan area is $1.1 million.
33 W Ontario Street Apartment 30G, Chicago ·Zillo
This two-bedroom, two-bathroom corner unit is located in Chicago’s River North neighborhood and features skyline and river views. The 1,325-square-foot home features an open kitchen with maple cabinets and a built-in washer and dryer.
This 2004 building features a 24-hour doorman, outdoor pool and fitness center. The monthly fee of $1,192 covers all utilities except electricity.
The estimated monthly payment (including mortgage, taxes, insurance and fees) is $4,198, with a 20% down payment and a mortgage interest rate of 6.2%. The median home price in the Chicago area is $364,900.
522 Griffith Avenue, Dallas ·Zillo
In Dallas’ Oak Cliff neighborhood, $415,000 can buy a two-bedroom, two-bathroom main house and an additional one-bedroom, one-bathroom guest house. The 1,200-square-foot, single-story home was built in 1932 and recently renovated.
The expected monthly payment (including mortgage principal, taxes and homeowners insurance) is $2,787, with a 20% down payment and a mortgage interest rate of 6.2%. However, the home is in a flood zone, which means lenders will require most buyers to purchase flood insurance.
The median home price in the Dallas area is $425,000.
2118 Cheshire Road, Houston ·Zillo
This one-story brick house in northwest Houston has three bedrooms and one bathroom and was built in 1955. The 1,298-square-foot home’s HVAC system was updated last year, and its kitchen and bathrooms were last renovated in 2012.
The 20′ by 10′ garage was converted into a flex room with central air and heat. The backyard features a covered patio area.
The expected monthly payment (including mortgage principal, taxes and homeowners insurance) is $3,251, with a 20% down payment and a mortgage interest rate of 6.2%. The median home price in the Houston area is $358,000.
1609 S 23rd Ave., Hollywood, FL ·Zillo
Located in Hollywood, Florida, between Miami and Fort Lauderdale, this three-bedroom, two-bathroom ranch-style home has 1,355 square feet. The home was built in 1954 and is about 15 minutes from the beach.
The expected monthly payment (including mortgage principal, taxes and insurance) is $3,329, with a 20% down payment and a mortgage interest rate of 6.2%.
The median home price in the greater Miami area, which includes Miami, Fort Lauderdale and West Palm Beach, is $499,999.
656 Azalea Dr #4, Rockville, MD ·Zillo
New hardwood floors were recently installed in this two-story, three-bedroom, two-and-a-half-bathroom brick townhouse in suburban Rockville, Maryland. Its master bedroom has an ensuite bathroom, and the 1,320-square-foot home has an open-concept living area with a separate dining room.
Condo fees are $481 per month. The estimated monthly payment (including mortgage principal, taxes, fees and insurance) is $3,044, with a 20% down payment and an interest rate of 6.2%.
The median listing price is $594,500 in Washington, D.C., which includes the city, suburban Maryland and Virginia, and even a small portion of West Virginia.
749 Bonnie Brae Ave SW, Atlanta ·Zillo
Located in Atlanta’s Adair Park neighborhood, this three-bedroom, two-bathroom home features an open floor plan and a fenced-in backyard. The 1,141-square-foot home, built in 1952, has an updated kitchen and an updated ensuite bathroom in the master bedroom.
Adair Park is a residential area southwest of downtown, near the Westside Trail of the Atlanta Beltway.
The estimated monthly payment (including mortgage, insurance and taxes) is $2,705, with a 20% down payment and an interest rate of 6.2%.
The Atlanta area’s median home price is almost exactly in line with the national average: $415,000.
7435 LaSalle Avenue, Detroit ·Zillo
In Detroit’s LaSalle Gardens neighborhood, $425,000 can buy you a five-bedroom home with two full and two half-bathrooms. The 1916 home spans over 3,500 square feet and features many period details, including tray ceilings and interior arches.
Outside there is an in-ground swimming pool and a detached two-car garage. Assuming a 20% down payment and a mortgage interest rate of 6.2%, the expected monthly payment (including mortgage, insurance and taxes) is $2,552.
The median home price in the Detroit metro area is $268,000. The area is one of the few cities where moderate-income workers can easily afford moderate-priced housing.
This single-story, three-bedroom home in northwest Phoenix has recently been updated with bathrooms, an in-ground pool, and a two-car garage. Last year, the company installed a new air conditioner, critical in a city where summer highs average more than 100 degrees.
Assuming a 20% down payment, a mortgage interest rate of 6.2%, and a monthly payment (including mortgage, insurance, and taxes) of $2,312. However, the home is advertised as being affordable with a 3.375% Federal Housing Administration (FHA) loan. If the potential buyer is able to bridge the gap between the remaining mortgage payment and the sales price, the loan assumption may lock in a much lower monthly payment.
learn more: What is an Assumable Mortgage? How to get a mortgage?
The median listing price in the Phoenix area is $495,000.
7038 Pernod Ave, St. Louis ·Zillo
This Victorian home in the Lindenwood Park neighborhood features three bedrooms, two and a half bathrooms, and plenty of vintage details, including original windows and redwood millwork. The home features chandeliers in the foyer, living room and dining room.
Built in 1890, the 1,810-square-foot home also features more modern touches like central air conditioning and a soaking tub with a separate shower. There is a back deck off the kitchen that overlooks the fenced in backyard.
The estimated monthly payment (including mortgage, insurance and taxes) is $2,403, with a 20% down payment and an interest rate of 6.2%.
The median listing price in the St. Louis area is $295,900. Like Detroit, the city is considered one of the last affordable options for middle-income buyers.
Read more: How to Get the Lowest Mortgage Rate Instantly
Claire Boston is a senior reporter at Yahoo Finance, covering housing, mortgages and home insurance.
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