8 Cities Where $500,000 Gets You a Mansion

Buying a mansion isn't for everyone, but for those with big families and a handy streak, it can be a seriously smart homeowner move. By mansion, we mean a large home — ideally 3,000 to 4,000 square feet or more — with multiple bedrooms, bathrooms, and a few fancy features.

While purchasing such a huge property isn't feasible in many areas due to the high cost of real estate, in some places the dream of owning a mansion is alive and well. So without further ado, here are 10 cities where you can buy a mansion for $500,000 or less.

Average home price: $171,607

Population: 52,000

Close to Detroit, Chicago, and Lake Michigan lies Battle Creek, known for its cereal industry history. We found two mansions in the Northside area, including one 1920 Tudor with 12 bedrooms, 4 bathrooms, and 6,017 square feet of space for $413,900.

The cost of living in Battle Creek is over 17% below the national average, and the Historic Northside area has a long history of being a close-knit community.

Average home price: $117,155

Population: 26,300

This small city with a college town vibe in the Finger Lakes region of New York State is home to ample outdoor recreation. In the Near Westside Historic District you'll find gorgeous homes like this 7-bedroom, 4-bathroom, 3,983-square-foot Victorian for only $149,900.

It's not far from a 5-bedroom, 5-bathroom, 4,832-square-foot beauty built in 1829 selling for $320,000. Note that home prices are dramatically on the rise in this otherwise affordable hidden gem.

Average home price: $190,173

Population: 90,500

Just east of Oklahoma is Fort Smith, established 1817 and eager to preserve its history. In the May-Lecta-Sweet Historic District, for example, you'll find a 5-bedroom, 4-bathroom, 4,071-square-foot Tudor with a dramatic fireplace and pool for $447,500.

Nearby, an 8-bedroom, 8-bathroom, 4,567-square-foot all-brick build is listed at $368,500 in the Park Hill Neighborhood. The cost of living in Fort Smith is 13% below the national average.

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Average home price: $167,749

Population: 157,000

Known for its Victorian architecture and tree-lined avenues, Macon is home to stunning houses like this 5-bedroom, 4-bathroom, 4,103-square-foot Colonial Craftsman listed for $355,000, replete with a clawfoot soaking tub.

For a more modern option, there's a 5-bedroom, 4-bathroom, 5,715-square-foot riverfront home in the Shirley Hills Bird Sanctuary on sale for $425,000. Macon's cost of living is 14% under the national average.

Average home price: $117,154

Population: 14,200

Home to famous historic mansions, including The Towers of Natchez, Longwood, Stanton Hall, and The Elms, you can score your own 5-bedroom, 4-bathroom, 3,300-square-foot Victorian in Natchez for $389,000.

Or for $480,000 there's a gorgeous 3,763-square-foot Victorian with 5 bedrooms and 4 bathrooms built in 1870. Either will allow you to be part of the city's proud history.

Average home price: $134,387

Population: 177,000
This riverfront port city has a cost of living that's 6% below the national average, thanks in big part to housing prices. Perhaps that's why you can own a 1932 5-bedroom, 5-bathroom, 6,200-square-foot home with tons of porch space for $498,000.

Or maybe you prefer a 1991-built brick home in the Ellerbe Woods Estates neighborhood with 6 bedrooms and 4 bathrooms with 3,080 square feet of space; it's listed at $399,499.

Average home price: $258,734

Population: 112,200

Home to one of the biggest mansions on this list — a 6-bedroom, 6-bathroom, 8,385-square-foot mansion dubbed the "Tin Castle," listed for $299,900 — this Texas city has a cost of living 5% below the national average.

If you're handy, there's an 8-bedroom, 6-bathroom fixer-upper with 4,477 square feet of space selling for $380,000. In both places, you could plant a rose garden worthy of the Rose Capital of America.

Average home price: $66,552

Population: 59,100

This city has the lowest average home price on our list, which may explain why a giant 10,377-square-foot Tudor mansion with 7 bedrooms and 5 bathrooms is only $329,000.

If you desire a smaller mansion, there's a 6-bedroom, 5-bathroom, 3,056-square-foot Colonial in the North Heights Neighborhood, which has many stunning historic homes in varying styles. Both houses are just a few miles away from Mill Creek Park, which locals can't get enough of.

Buying a mansion is a homeowner move that takes serious work, chops, and finances to accomplish, but it can be intensely rewarding for the right homeowner and family. You're sure to have the space you need, and for under $500,000, a slam dunk on value.

Just be sure to know exactly what you're getting into with such a large purchase, especially if you decide to buy a historic home, which can come with additional upkeep and challenges. Otherwise, happy house hunting!