The median home in the US costs $415,000. Here’s what that will buy around the country.

Core Insights - The national housing market is not uniform, with significant price variations across states and neighborhoods, yet home prices have increased dramatically over the past five years [1][2]. Price Trends - The median existing home price reached $415,200 in October, a substantial increase from $271,100 five years ago, indicating a rise of approximately 53% [2]. - This price surge has led to a decrease in home sales, which are expected to remain around 30-year lows due to affordability issues for first-time buyers and families looking to move [3]. Regional Market Examples - In New York City, a studio apartment in Lincoln Square is priced at $415,000, with estimated monthly payments of $3,216 based on a 20% down payment and a 6.2% mortgage rate [4][5]. - The median home price in New York City is around $800,000, with Manhattan's median reaching approximately $1.2 million [6]. - In Los Angeles, a one-bedroom condo in downtown is listed for $420,000, with estimated monthly payments of $3,789 under similar financing conditions [7][9]. - The median home price in the Los Angeles metro area is about $1.1 million [9]. - In Chicago, a two-bedroom condo in the River North neighborhood is available for $415,000, showcasing the diverse pricing landscape across major cities [11][12].