How much house does $500,000 buy you in Rochester, Minnesota?
Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don’t look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it’s not nearly enough. But what about Rochester, Minnesota?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Rochester, Minnesota right now. Listings below $500,000 were included if necessary.
202 Winona St Se, Chatfield, MN 55923
– Price: $499,900
– 6 bedrooms, 3.5 bathrooms
– Square feet: 4,001
– See 202 Winona St Se, Chatfield, MN 55923 on Redfin.com
5182 Southern Ridge Ln Sw, Rochester, MN 55902
– Price: $497,000
– 5 bedrooms, 3.3 bathrooms
– Square feet: 3,700
– See 5182 Southern Ridge Ln Sw, Rochester, MN 55902 on Redfin.com
4594 Buckingham Dr Nw, Rochester, MN 55901
– Price: $499,900
– 5 bedrooms, 2.5 bathrooms
– Square feet: 2,808
– See 4594 Buckingham Dr Nw, Rochester, MN 55901 on Redfin.com
511 E Center St, Rochester, MN 55904
– Price: $500,000
– 5 bedrooms, 2 bathrooms
– Square feet: 2,802
– See 511 E Center St, Rochester, MN 55904 on Redfin.com
3479 Hart Ln Sw, Rochester, MN 55902
– Price: $485,000
– 4 bedrooms, 3 bathrooms
– Square feet: 2,505
– See 3479 Hart Ln Sw, Rochester, MN 55902 on Redfin.com
1842 4Th St Ne, Byron, MN 55920
– Price: $489,900
– 4 bedrooms, 3 bathrooms
– Square feet: 2,140
– See 1842 4Th St Ne, Byron, MN 55920 on Redfin.com
3669 Meadow Sage Ct Se, Rochester, MN 55904
– Price: $499,900
– 4 bedrooms, 3 bathrooms
– Square feet: 2,058
– See 3669 Meadow Sage Ct Se, Rochester, MN 55904 on Redfin.com
3585 Bridgeview Dr Se, Rochester, MN 55904
– Price: $500,000
– 4 bedrooms, 2.8 bathrooms
– Square feet: 2,412
– See 3585 Bridgeview Dr Se, Rochester, MN 55904 on Redfin.com
1806 Brandt Dr Ne, Byron, MN 55920
– Price: $494,900
– 4 bedrooms, 2.8 bathrooms
– Square feet: 2,305
– See 1806 Brandt Dr Ne, Byron, MN 55920 on Redfin.com
1877 Robinson Ln, Byron, MN 55920
– Price: $494,480
– 4 bedrooms, 2.8 bathrooms
– Square feet: 2,218
– See 1877 Robinson Ln, Byron, MN 55920 on Redfin.com
6238 Cody Pl Nw, Rochester, MN 55901
– Price: $498,000
– 4 bedrooms, 2.8 bathrooms
– Square feet: 1,864
– See 6238 Cody Pl Nw, Rochester, MN 55901 on Redfin.com
1644 Brandt Dr Ne, Byron, MN 55920
– Price: $479,000
– 4 bedrooms, 2.5 bathrooms
– Square feet: 2,686
– See 1644 Brandt Dr Ne, Byron, MN 55920 on Redfin.com
914 Milborne Ln Nw, Rochester, MN 55901
– Price: $499,880
– 4 bedrooms, 2.3 bathrooms
– Square feet: 2,271
– See 914 Milborne Ln Nw, Rochester, MN 55901 on Redfin.com
6230 Cody Pl Nw, Rochester, MN 55901
– Price: $489,000
– 4 bedrooms, 2 bathrooms
– Square feet: 1,828
– See 6230 Cody Pl Nw, Rochester, MN 55901 on Redfin.com
11275 Wisdom Ct Se, Chatfield, MN 55923
– Price: $499,500
– 3 bedrooms, 2 bathrooms
– Square feet: 3,147
– See 11275 Wisdom Ct Se, Chatfield, MN 55923 on Redfin.com
1962 Fieldstone Rd Sw, Rochester, MN 55902
– Price: $499,900
– 3 bedrooms, 2 bathrooms
– Square feet: 1,809
– See 1962 Fieldstone Rd Sw, Rochester, MN 55902 on Redfin.com
915 1St St Nw, Oronoco, MN 55960
– Price: $489,900
– 3 bedrooms, 2 bathrooms
– Square feet: 1,716
– See 915 1St St Nw, Oronoco, MN 55960 on Redfin.com
1422 Woodland Way, Lake City, MN 55041
– Price: $499,000
– 3 bedrooms, 1.8 bathrooms
– Square feet: 1,795
– See 1422 Woodland Way, Lake City, MN 55041 on Redfin.com
5492 Ridgeview Dr Nw, Rochester, MN 55901
– Price: $484,500
– 3 bedrooms, 1.8 bathrooms
– Square feet: 1,708
– See 5492 Ridgeview Dr Nw, Rochester, MN 55901 on Redfin.com
1289 White Bridge Rd Nw, Oronoco, MN 55960
– Price: $495,000
– 3 bedrooms, 1.8 bathrooms
– Square feet: 1,638
– See 1289 White Bridge Rd Nw, Oronoco, MN 55960 on Redfin.com
239 Stonelake Dr Se, Rochester, MN 55904
– Price: $479,900
– 3 bedrooms, 1.8 bathrooms
– Square feet: 1,383
– See 239 Stonelake Dr Se, Rochester, MN 55904 on Redfin.com
1847 4Th St Ne, Byron, MN 55920
– Price: $478,900
– 3 bedrooms, 1.8 bathrooms
– Square feet: 1,328
– See 1847 4Th St Ne, Byron, MN 55920 on Redfin.com
519 E Center St, Rochester, MN 55904
– Price: $500,000
– 2 bedrooms, 2 bathrooms
– Square feet: 1,745
– See 519 E Center St, Rochester, MN 55904 on Redfin.com
864 Bucknell Ln Se, Stewartville, MN 55976
– Price: $489,900
– 2 bedrooms, 2 bathrooms
– Square feet: 1,601
– See 864 Bucknell Ln Se, Stewartville, MN 55976 on Redfin.com
1310 Falstone Alcove Ne, Byron, MN 55920
– Price: $499,900
– 2 bedrooms, 1.8 bathrooms
– Square feet: 1,653
– See 1310 Falstone Alcove Ne, Byron, MN 55920 on Redfin.com
1202 15Th St Ne, Kasson, MN 55944
– Price: $499,900
– 2 bedrooms, 1.8 bathrooms
– Square feet: 1,605
– See 1202 15Th St Ne, Kasson, MN 55944 on Redfin.com
1893 Hadley Hills Dr Ne, Rochester, MN 55906
– Price: $489,900
– 2 bedrooms, 1.8 bathrooms
– Square feet: 1,252
– See 1893 Hadley Hills Dr Ne, Rochester, MN 55906 on Redfin.com
12023 Highway 30 Se, Chatfield, MN 55923
– Price: $490,000
– 2 bedrooms, 1.3 bathrooms
– Square feet: 2,119
– See 12023 Highway 30 Se, Chatfield, MN 55923 on Redfin.com
515 E Center St, Rochester, MN 55904
– Price: $500,000
– 2 bedrooms, 1 bathroom
– Square feet: 1,316
– See 515 E Center St, Rochester, MN 55904 on Redfin.com
303 S Lakeshore Dr, Lake City, MN 55041
– Price: $499,900
– 1 bedroom, 0.8 bathrooms
– Square feet: 1,200
– See 303 S Lakeshore Dr, Lake City, MN 55041 on Redfin.com
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