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In SE Michigan, you can generally get something decent in an okay area. Schools likely will be mediocre but otherwise there will be generally low crime. Depending on proximity to amenities and built infrastructure, 100K will typically get you a smaller (and usually older) house.
Some areas of Detroit proper have homes in that range and they tend to be better homes in relatively lower crime neighborhoods. Although, I would expect if the whole city was healthy, including the schools, these particular homes would likely be much more than $100K.
It used to be only as recently as 2013 that $100K could get you into the really good areas due to the depressed prices, but by 2014 all those homes (expectedly) got bought up and prices in those areas have since appreciated by double digit percentages. 2012-2013 was a really good buyer's market and I'd say was one of the best couple of years for existing housing in the metro area especially at the $100K-$200K price range.
Many of the latter properties are in solid/fine areas too. Some are in walkable areas within the city or within a village. Some are in older suburban neighborhoods.
Is there anything else you are looking for along with the housing criteria?
Last edited by ckhthankgod; 12-06-2014 at 07:03 AM..
In Detroit (proper) you can get a pretty nice home for 100,000 dollars. About 1/3 of the homes in Detroit are vacant and many of them are deserted. The only problem with Detroit is that your neighborhood will be filled of crime, poverty, bad schools and social unrest. Yes, did I say that the city will pretty much try to evict you with their insanely high property tax?
Location: New Albany, Indiana (Greater Louisville)
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I live in the higher end part of Louisville and sometimes an older home from the 1950s could go as low as $100k. In the nicer part of the old city limits you could get a smaller 2/3 bedroom home for that or less.
Cross the river from downtown into Indiana you get a a large Victorian home or 1980s/90s McMansion with minor issues for $100k
Lol no. You can't even get a shack in Northern Virginia for 100k.
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