Homes on the Market for $500,000

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We showed you the awesome homes you can get for $1 million on the market. But what happens if you cut that price tag in half? Will $500,000 still get you just as nice a home?

Well, we went digging in our listings database, and we turned up some pretty cool digs for that price tag. Of course, it depends on where you're looking. If you're in New York City -- the most expensive real estate market in the country -- then half a mil will only get you a one-bedroom apartment, albeit a cute one on one of Manhattan's priciest avenues.

If you've got $500,000 to spend on a hip new house, then click through the gallery to see what you can get for the money. And if you don't live in one of the markets mentioned, then find a home for sale in your area here.

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What $500,000 Buys You
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Homes on the Market for $500,000

Location: Phoenix
Beds/baths: 5/3
Sq. ft.: 3,115

It's no mirage: This is definitely chic desert living. With wide-open rooms and views to die for, homes like this one are what make the Phoenix real estate market so hot! There's an expansive lot with gardening opportunity just waiting to grow.

When it's cold outside, that fireplace will keep you cozy and warm while you lounge on your sofa. And that wedding photo on the wall? It just goes to show that this is the perfect abode to tell your sweetie: "Honey, I'm home!"

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With a granite-countertop island, the kitchen has plenty of space to cook a meal for the whole family. And the family room is just on the other side of the island!

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Location: Raleigh
Beds/baths: 3/4
Sq. ft.: 3,284

This all-brick home is a very unique piece of architecture and very private on 1.37 acres. The listing says it's the perfect getaway to host some wild parties! (OK, the listing doesn't exactly say that, but that's what we infer from it.)

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Skylights illuminate the living room and add pizzazz to its vaulted ceiling.

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The master bedroom is large and in charge, with French doors leading to an en suite bathroom.

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Take a dip in the brick-lined pool in the backyard, then get cozy in the Jacuzzi that sits right in front of it.

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Location: Santa Fe
Beds/baths: 3/3
Sq. ft.: 2,465

Described as an "awesome" Pueblo home, this spread was architect-designed and has some of the best accents, including natural stone and slate floors, granite and travertine countertops and custom hardwood hickory cabinets.

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The second fireplace in the home is in the master bedroom -- which also gets perfect views of the Sangre de Cristo and Jemez mountains.

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Location: Golden Valley
Beds/baths: 4/4
Sq. ft.: 4,136

This custom-built two-story home is fabulous, with an updated kitchen, rooms that can be converted into extra bedrooms and a porch -- all on 3/4 of an acre of "park-like setting."

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You'll never want for more light because the giant windows in the home's living room will let in all the natural sunlight you need.

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Luxury is the word to describe this master bathroom, with granite countertops, a large shower and a privacy wall in front of the toilet.

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There's a separate dining area off the living room for an intimate place to dine by candlelight.

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Location: Atlanta
Beds/baths: 6/5
Sq. ft.: N/A

This home has been renovated and "meticulously cared for," says the listing. There's a finished terrace for ample opportunity to entertain.

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The kitchen is a chef's delight, with an expansive center island (which includes a stovetop) and top-of-the-line appliances. 

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The home has 10-foot ceilings, so you'll feel like you're in a palatial estate in every room.

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Location: New York City
Beds/baths: 1/1
Sq. ft.: 800

Hey, it's NYC, so of course this is the smallest home on the list, even for $500K. But consider the location: Manhattan's hoity-toity Park Avenue.

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Even though it might be small, it still has plenty of charm -- as well as super-cool lighting built into the ceiling.

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