Homes: What you can buy for $550,000
Home prices may be on the rise, but a budget of $550,000 can buy a home packed with upscale features and amenities in most U.S. cities.
These homes are almost three times the nation's median home value of $187,000 according to Zillow, but that's still far below the median in neighborhoods like the 90046 area of Hollywood, where Zillow says the median home value is more than $1 million.
In bigger cities, you can typically find luxury one- or two-bedroom condos at this price point, while you'll find more spacious four- or five-bedroom homes in smaller, less expensive metro areas. Many of these homes are located in buildings or communities with extra amenities like swimming pools and fitness centers. These homes also often come with upgraded kitchens and other desirable features like fireplaces and balconies.
Click ahead to see what you can buy for $550,000 in 10 cities around the country.
Brooklyn, New York
This one-bedroom, one-bathroom co-op in Brooklyn's Brighton Beach neighborhood is for sale for $550,000. It last sold in September 2014 for $400,000, about 27 percent less than the current price. It is about 21 percent more expensive than the area's median home value of $455,500.
Brooklyn, New York
The 850-square-foot unit is located in a waterfront building and has a fireplace, built-in shelving, an in-unit washer and dryer and double ovens.
Atlanta, Georgia
This three-bedroom, 2.5-bathroom home built from steel and glass in the Sweet Auburn neighborhood of Atlanta is for sale for about $550,000. It is about 2.3 times more expensive than the area's median home value of $238,800.
Atlanta, Georgia
The three-story home has oak hardwood floors, heated bathroom floors, a two-car garage located beneath the house, a balcony and views of the downtown Atlanta skyline.
Chicago, Illinois
This three-bedroom, three-bathroom home in the Cabrini Green neighborhood of Chicago is for sale for $550,000. It last sold in 2013 for $320,000, about 58 percent of the current price. It costs more than twice the area's median home value of $253,400.
Chicago, Illinois
The home has an attached 1.5-car garage, a family room with built-in shelving, hardwood floors, sliding barn doors and a rooftop deck with views of downtown.
Los Angeles, California
This one-bedroom, two-bathroom Hollywood condo is for sale for $550,000. It last sold in April 2015 for $480,000, about 87 percent of the current price. It's less than half the area's median home value of $1,229,400.
Los Angeles, California
The unit has hardwood floors, marble counters and floors in the kitchen and a balcony. Building amenities include 24-hour door staff, a pool, fitness center and rec room.
New Orleans, Louisiana
This four-bedroom, 4.5-bathroom house is for sale for about $550,000. This is the first time it's been on the market since it was built in 1980, according to Zillow, and it is priced at more than three times the area's median home value of $158,200.
New Orleans, Louisiana
The home has an attached two-car garage, fenced yard with patio, a media room and a wrought iron staircase with a skylight.
Seattle, Washington
This two-bedroom, 1.5-bathroom house in Seattle's Alki neighborhood is for sale for about $550,000. It last sold in February of this year for $516,350, about 6 percent less than the current price. It is currently about 11 percent less expensive than the area's median home value of $619,500.
Seattle, Washington
According to the listing, the home has hardwood floors, a fenced backyard with a covered patio, stainless steel appliances and a detached "flex space" building in the backyard.
Miami, Florida
This two-bedroom, two-bathroom condo in the Brickell neighborhood of Miami, Florida, is for sale for $550,000. It last sold in August 2011 for $245,000, less than half the current asking price. It is about 16 percent more expensive than the area's median home value of $476,100.
Miami, Florida
The condo has hardwood and tile floors, a balcony, walk-in closet and a kitchen with stainless steel appliances and wood countertops. Building amenities include tennis and racquetball courts, a gym, swimming pool, sauna and clubhouse.
Denver, Colorado
This five-bedroom, four-bathroom home in the Hampden South neighborhood of Denver is for sale for $550,000. It last sold in May 2003 for $298,000, just over half the current asking price. It is about 43 percent more expensive than the area's median home value of $384,700.
Denver, Colorado
It has a two-car garage, covered patio, fireplace and finished basement.
Washington, D.C.
This three-bedroom, three-bathroom home in the Michigan Park neighborhood of Washington, D.C., is for sale for about $550,000. It last sold in December 2009 for $324,900, about 59 percent of the current price. It is about 22 percent more expensive than the area's median home value of $452,100.
Washington, D.C.
The house has a fireplace, sunroom, kitchen with butcher-block countertops and stainless steel appliances and a detached garage.
Oklahoma City, Oklahoma
This four-bedroom, four-bathroom home in the Chatenay community of Oklahoma City is for sale for about $550,000. It last sold in December 2004 for $479,000, about 13 percent less than the current asking price. It is more than three times the area's median home value of $176,800.
Oklahoma City, Oklahoma
The home has a fireplace, hardwood floors, a laundry room, jetted tub, library/office and an attached garage.