What $300,000 Buys You Now

Five years ago, an upscale version of the American Dream -- living space, location, property, charm and more -- in most U.S. metropolitan areas started at around $500,000. Then the housing bubble popped. Since October 2005, values on existing homes have dropped 27% nationally, according to the National Assn. of Realtors.

 

Is $300,000 the new $500,000? Here's a look at 12 properties on the market, all in the $250,000-$350,000 range. See how far your real estate buck stretches now.

 

New York, N.Y.

 

Price: $325,000
Square Footage: 450
Bedrooms: Studio
Bathrooms: 1

This studio apartment in Midtown Manhattan has more the feel of a one-bedroom because of its layout. Located in a building with doormen on duty 24 hours a day, it's close to the subway, Central Park and Columbus Circle, to name a few attractions in the Big Apple.