A cool half-million dollars might seem like a massive number, but here’s a fun fact: When it comes to home prices, it’s not that far off base. As of November 2025, the average purchase price of a single-family home was $414,300, according to the Federal Reserve Bank of St. Louis. A $500,000 home isn’t far-fetched if you need a larger house or live in a higher-cost-of-living area. If this sounds like your area, here’s how the math breaks down and how to plan for a mortgage on a $500,000 home. What is the ...