Live

Watch CBSN Live

Homes: What you can buy for $75,000

Photo courtesy of Zillow

Looking for a home on a tiny budget? Location is everything.

Homes priced around $75,000 cost about 60 percent less than the national median home value, but believe it or not it's still possible to find properties with appealing features like hardwood floors and large outdoor spaces -- depending on where you search.

In Indianapolis, $75,000 can buy 1,140 square feet and a stone fireplace. On the south side of Chicago, it can buy 1,600 square feet and stainless steel appliances.

If you're looking for property in this price range, either as a full-time residence or an investment, pay very close attention to the neighborhood and keep your eyes peeled for red flags. Buys this inexpensive can be risky.

Look at crime rates, the performance of local schools and the length of time homes in a particular area are staying on the market. If you're not familiar enough with the area or you see too many potential problems, it may be better to look elsewhere -- even if it means paying a bit more.

Click ahead to see what you can buy for $75,000 in 10 cities across the country.

Indianapolis, Indiana

Photo courtesy of Zillow

This two-bedroom, 1.5-bathroom condo in the Augusta area of Indianapolis is for sale for $75,000. It was built in 1982 and is about 35 percent less expensive than the area's median home value of $116,100.

Indianapolis, Indiana

Photo courtesy of Zillow

It has bamboo flooring, a stone fireplace, walk-in closets, a secure garage and a side patio area.

Chicago, Illinois

Photo courtesy of Zillow

This two-bedroom, two-bathroom condo in the Kenwood neighborhood of Chicago is for sale for $75,000. It last sold in June 2007 for $105,000, 40 percent more than the current price. The home is less than half as expensive as the area's median home value of $172,600.

Chicago, Illinois

Photo courtesy of Zillow

The condo is located in a building near Lake Michigan and has a butler's pantry, fireplace, wood and tile floors, arched ceilings and stainless steel appliances.

Orlando, Florida

Photo courtesy of Zillow

This one-bedroom, one-bathroom condo in the Metro West area of Orlando is for sale for $74,000. It last sold in May 2012 for $53,000, about 28 percent less than the current price. It is priced at less than half the area's median home value of $165,500.

Orlando, Florida

Photo courtesy of Zillow

The condo is a corner unit located in a gated community with shared facilities including a clubhouse, pool and hot tub.

Loma Linda, California

Photo courtesy of Zillow

This three-bedroom, two-bathroom manufactured home in Loma Linda, California -- about 7 miles south of San Bernardino -- is for sale for $75,000. It was built in 1989 and is about 81 percent less expensive than the area's median home value of $394,000.

Loma Linda, California

Photo courtesy of Zillow

The home has several skylights, stainless steel appliances, a washer and dryer and a carport. It's located in a community with a swimming pool, hot tub, barbeque grills and a clubhouse.

Detroit, Michigan

Photo courtesy of Zillow

This three-bedroom, two-bathroom house in the Fitzgerald neighborhood of Detroit is for sale for about $75,000. It last sold in September 2015 for $24,000, about one-third of the current price. The home is about 65 percent more expensive than the area's median home value of $45,400.

Detroit, Michigan

Photo courtesy of Zillow

The house was built in 1929 and was recently renovated, according to the listing. It has a fireplace, updated countertops and cabinets and polished hardwood flooring.

Memphis, Tennessee

Photo courtesy of Zillow

This three-bedroom, one-bathroom house in the White Haven-Coro Lake area of Memphis is for sale for $75,000. It was built in 1954 and is about 66 percent more expensive than the area's median home value of $45,300.

Memphis, Tennessee

Photo courtesy of Zillow

The home has a den, fenced backyard and two covered parking spots.

Corpus Christi, Texas

Photo courtesy of Zillow

This two-bedroom, 2.5-bathroom condo in the Calallen neighborhood of Corpus Christi, Texas, is for sale for $75,000. It was built in 1985 and is about 48 percent less expensive than the area's median home value of $144,700.

Corpus Christi, Texas

Photo courtesy of Zillow

It has a river view, covered deck and several balconies. It also has walk-in closets, a jetted tub, a two-car garage and access to a community swimming pool.

Minneapolis, Minnesota

Photo courtesy of Zillow

This one-bedroom, one-bathroom condo in Minneapolis is for sale for about $75,000. It was built in 1922 and is 76 percent less expensive than the area's median home value of $316,300.

Minneapolis, Minnesota

Photo courtesy of Zillow

The home has hardwood floors and access to a rooftop gazebo with views of the Minneapolis skyline, according to the listing.

Washington, D.C.

Photo courtesy of Zillow

This two-bedroom, one-bathroom condo in Marshall Heights is for sale for $75,000. It last sold in December 2008 for $70,000, about 7 percent less than the current price. It is 69 percent less expensive than the area's median home value of $243,900.

Washington, D.C.

Photo courtesy of Zillow

The home has a balcony off the living room and an in-unit washer and dryer.

Atlanta, Georgia

Photo courtesy of Zillow

This two-bedroom, 2.5-bathroom townhouse in Southwest Atlanta is for sale for $75,000. It was built in 2005 and is about 8 percent more expensive than the area's median home value of $69,300.

Atlanta, Georgia

Photo courtesy of Zillow

The property is in a gated community with parking for two cars. It has a fireplace, patio and a jetted tub.

View CBS News In
CBS News App Open
Chrome Safari Continue