House Hunting in the Rust Belt

Maybe you've heard those tales of homes sold for $100. Such properties are apt to give entirely new meaning to the term fixer-upper—but for serious buyers, $100,000 can get you a jewel.

Credit: Getty Images

Credit: Getty Images

City: Cleveland

Median home price: $47,000

What $100,000 can get you: A magnificent six-bedroom, four-bath brick Colonial Revival pile with leaded-glass windows and marble floors in the University neighborhood, just north of the Cleveland Museum of Art.

City: Buffalo

Median home price: $62,000

What $100,000 can get you: A five-bedroom 1890 Queen Anne (converted to a duplex) in the historic waterfront district of Grant Ferry that's likely to gain value: Despite the housing crisis, local home prices appreciated more than 22 percent between 2006 and 2010.

City: Detroit

Median home price: $71,000

What $100,000 can get you: A six-bedroom, three-bath turn-of-the-century brick mansion in Indian Village, a historical neighborhood packed with architectural treasures.


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