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How Much House Can $10,000 Buy?

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Bankrate recently looked at what $400,000 can buy today in the real estate market. I poked around, checking out a 3 bedroom, 2/5 bath 1,730 sq. ft. home in San Diego, CA, that seemed to be directly on top of the home next door, and a monster of a brand-spanking new home in Houston, TX that had nearly 2,500 square feet.

But I didn’t think that was realistic. Doesn’t Bankrate know we’re in a recession!? I wanted to know what $10,000 can get you.

Baltimore, MD

Baltimore $5000 HomeBaltimore, home of one of my favorite shows, The Wire, has plenty of homes available for a cool $5,000. Located on idyllic Miles Ave, this two bedroom, one bath gem sits on a 0.02 acre lot. Built in 1912, this rowhome located in the Hampden subdivision of Baltimore City has an estimated property tax of sixty-eight bones. If you want to view it, you must sign and return a waiver prior to showing, which occurs at your own risk. For five thousand bucks, this baby is yours (you may want to install windows and doors though so you’ll probably want to have some extra cash saved).

Trenton, NJ

Trenton $5000 HomeIf you fancy living in the Wilbur area of Mercer County, New Jersey, have $7,000 (plus closing costs), then you have yourself a three bedroom, one bath room built in 1934. The style is your classic DoubleWide (not a trailer, it’s a double, where two units share one physical building) and only one side is for sale. The honest listing says it’s a “gut rehab project” with the owner looking for an investor willing to foot the estimated $35,000 it would take give this baby its groove back.

Las Vegas, NV

Las Vegas $10000 HomeVegas baby, Vegas! If you want to live in the Sin City and have ten grand, you can see your dreams come true. Three bedrooms, one bath and 1,160 square feet to stretch out and call it home. The lot itself is a sizable 0.18 acres. If you aren’t a fan of mowing the lawn, no worries, based on the pictures you will have to mow exactly five square feet of the 7800. It’s a single story unit with central air conditioning, so you can get a cool respite from the hot Nevada sun. Located in Clark, this single family property is a steal at twice the price!

Miami, FL

Las Vegas $9900 Home My first reaction to this home was to laugh, this house looks like they filmed a movie here and had meant to blow the whole thing up… but they didn’t. It’s corporate owned and sold only for its land value, which isn’t surprising if you click through and look at the pictures. I could tell you that it was built in 1935, that it has three bedrooms, two full baths, and beautiful hardwood floors… but the the dang thing is burned out. This listing is absolutely hilarious to read. Oh, and parking features… wait for it… Street.

Detroit, MI

Detroit $9000 Home Last but not least, I turned to Detroit, MI to see what $10,000 could get you in a city decimated by the recession. With four listings in jest, I went to Detroit because I had heard stories about people buying homes for a pittance because the economy is so battered there (unemployment is around 20%). What I found was a $9,000 home that is walk-in livable right now. Three bedrooms, one bath, a 818 sq. ft. home that is a story and a half. This is 100% livable right now, from how it’s described, and it’s not any different than a lot of searches of the Detroit region. I’m not saying it’s the perfect home, or even a good to great home, but it’s a fair home for less than ten thousand bucks.

So there you have it, the anti-Bankrate listing of homes you can get for under $10,000 in five different markets. (here’s a post at Suburban Dollar listing what $10k can get in various areas of TN!)

What can $10,000 buy in your neighborhood?

{ 50 comments, please add your thoughts now! }

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50 Responses to “How Much House Can $10,000 Buy?”

  1. salye sulet says:

    taxes here are 1450 this year my house is worth 75,000 . I paid 59,000 in 2004. Theres some great deals here .still you cana find fixer uppers for 10,000 and it will need new plumbing for sure. some one bought a house for 10,000 but had to put 20,000 into it to make it livable. Its big ITS A 5 BED ROOM 2 BATH HOUSE large lot big house . mine is 3 bedrooms 1 bath corner lot and fenced back yard large front yARD. BASMENT CAN BE MADE INTO 2 MORE BEDROOMS . SO IT WOULD be a 5 bedroom house but a bathroom would have to be added up stairs or in the basement and kitchen has to made bigger . but living in the cold North Dakota . I am wondering is there any where warm with very low prices and low taxes ?

  2. Anonymous says:

    Very nice thanks a sharing.

  3. Linda says:

    I do not know of one person that retained a house for so little .. I have a little and i have been looking for yrs and nothing on the market is excepting that little of money.. This is a Scam. Or prove to me different.

    • Suzanne says:

      It’s not a scam. Real Estate has gone down significantly with the economy being so depressed. There are many towns that have houses for less than 10 grand. I’ve found a lot of them in Syracuse for example. The trade off is this: They are usually very old homes which most people dont want (something I actually prefer)and need work. If that’s something you can take care of than it can be a great investment for when the market goes back up and save you money as opposed to bleeding money into renting an inferior place in expensive areas such as NYC.

  4. Anonymous says:

    Jasmin,I guess it is nice

  5. cd says:

    Where do you look for houses this low?

  6. your mom says:

    i have a house in california selling for $1.00

  7. Tyrone says:

    who would i talk to if i wanted to buy the house in Detroit MI listed for $9,000

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