The amount of space you can get for $250,000 depends a lot on where you live. If you're buying a home in a southern city like San Antonio, for example, your money is likely to stretch further than it would in a more notoriously expensive city like New York.
Using internal data, real estate website Trulia found exactly how much space that budget would get you in some of America's most popular cities.
The homes range from a 500-square-foot co-op in New York City's East Harlem to a 2,361-square-foot single-family house in the Ridge of Silverado Hill neighborhood in San Antonio, TX.
Below are the cities, the home types and the amount of square feet you'd get for around $250,000. The cities are ranked from where you'd get the least space to the most space.
10. New York, New York
Amount of space you could afford: 500 square feet
Neighborhood: East Harlem
Home type: One-bedroom, one-bathroom co-op
Total budget: $250,000
9. San Diego, California
Amount of space you could afford: 510 square feet
Neighborhood: Normal Heights
Home type: One-bedroom, one-bathroom condo
Total budget: $260,000
8. Los Angeles, California
Amount of space you could afford: 559 square feet
Neighborhood: Eagle Rock
Home type: One-bedroom, one-bathroom manufactured home
Total budget: $249,000
7. Chicago, Illinois
Amount of space you could afford: 875 square feet
Neighborhood: Gold Coast
Home type: One-bedroom, one-bathroom condo
Total budget: $250,000
6. Philadelphia, Pennsylvania
Amount of space you could afford: 1,164 square feet
Neighborhood: Pennypack
Home type: Three-bedroom, two-bathroom multi-family home
Total budget: $250,000
5. San Jose, California
Amount of space you could afford: 1,440 square feet
Neighborhood: Fairgrounds
Home type: Two-bedroom, two-bathroom manufactured house
Total budget: $250,000
4. Dallas, Texas
Amount of space you could afford: 1,582 square feet
Neighborhood: Southwest Dallas
Home type: Four-bedroom, two-bathroom single family home
Total budget: $250,000
3. Phoenix, Arizona
Amount of space you could afford: 1,772 square feet
Neighborhood: Anthem
Home type: Four-bedroom, two-and-a-half-bathroom single family home
Total budget: $250,000
2. Houston, Texas
Amount of space you could afford: 2,005 square feet
Neighborhood: Clear Lake
Home type: Three-bedroom, three-bathroom single family home
Total budget: $250,000
1. San Antonio, Texas
Amount of space you could afford: 2,361 square feet
Neighborhood: Ridge of Silverado Hill
Home type: Three-bedroom, three-bathroom single family home
Total budget: $250,000
The data highlights that location matters. No matter where you are on the map, however, living within your means and employing common-sense budgeting tactics can help you save.
If you're looking for a home, experts suggest you make sure you're ready to transition from renting and consider some of the markets where homes are most affordable for young people.
Here are a few tips to help you get started.
Don't miss: 10 expensive cities where salaries are rising faster than housing costs
Like this story? Subscribe to CNBC Make It on YouTube!
