What Can You Buy for $500,000 When Buying a Home in Calgary?

Calgary Homes for Sale: Discovering Your Options Under $500,000

Looking for a home in Calgary but not sure what you can get for your budget of $500,000?  In Calgary's real estate market, $500,000 can get you a range of housing options, from single-family homes to brand new builds, townhouses, and condos.

With $500,000, you may find a decent single-family home with two to three bedrooms, two to three bathrooms, a finished basement, and a garage. if you're looking for a brand new home, you can find newly constructed single-family homes in neighborhoods like Mahogany, Cranston, and Evanston. These homes come with modern finishes and features and may offer two to three bedrooms, two to three bathrooms, and a garage.

For those who prefer a low-maintenance lifestyle, townhouses with two to three bedrooms, two to three bathrooms, and a garage.  If you're looking for a more affordable option or a downtown location, a condo may be the way to go. For $500,000, you can find a two-bedroom, two-bathroom condo with underground parking in Calgary's downtown core. Some of these condos may offer stunning views of the city skyline or the Bow River.

Keep in mind that the location, size, and condition of the property can affect the price of the home. The examples we've provided are just a rough estimate of what you can expect in Calgary's real estate market for $500,000. 
When you notice anything that sparks your curiosity and you're ready for a deeper look, kindly email, text, or get in touch with me. You are welcome to schedule a private viewing at any time.
Make a call to Diane Richardson at 403.397.3706

Calgary Living: Affordable Housing Solutions Under $500,000

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209 1712 38 Street SE
Forest Lawn Calgary T2A 1H1

$138,000
Residential beds: 2 baths: 1.0 749 sq. ft. built: 1981

Main Photo: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
Photo 1: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
Photo 2: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
Photo 3: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
Photo 4: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2320342
Bedrooms:
2
Bathrooms:
1
Year Built:
1981
2 bedrooms, on second floor, open living room with patio door to balcony , locate block away from 17 Av SE.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Suite:
No
Num Legal Suites:
0
Num Illegal Suites:
0
Home Style:
Apartment-Single Level Unit
Total Living Area:
749 sq. ft.
Condo Fee:
$663.19
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Professional Management, Sewer, Snow Removal, Trash
Front Exposure:
West
Unit Exposure:
West
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
1981 (Age: 45)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
0012879
Heating:
Forced Air
New Constr.:
No
Construction Material:
Unknown
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
No
Parking:
Stall, Underground
Parking Places:
1
Parking Total/Covered:
1 / -
Laundry Features:
In Hall
Condo Fee Frequency:
Monthly
Southeast
Braebourne
Forest Lawn
Coin Laundry
Refrigerator, Stove(s)
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
23'11" × 10'10"
Main Floor
Bedroom
12'10" × 9'6"
Main Floor
Bedroom
10'6" × 7'3"
Main Floor
Kitchen
9'10" × 6'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
None
Interior Features:
Elevator
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C1
Listed Date:
Jun 11, 2026
  • Photo 1: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
    Photo 1 of 4
  • Photo 2: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
    Photo 2 of 4
  • Photo 3: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
    Photo 3 of 4
  • Photo 4: 209 1712 38 Street SE in Calgary: Forest Lawn Apartment for sale : MLS®# A2320342
    Photo 4 of 4
Listed by Grand Realty
Data was last updated September 20, 2026 at 04:05 PM (UTC)
Area Statistics
Listings on market:
27
Avg list price:
$549,000
Min list price:
$99,900
Max list price:
$835,000
Avg days on market:
60
Min days on market:
4
Max days on market:
135
Avg price per sq.ft.:
$513.24
These statistics are generated based on the current listing's property type and located in Forest Lawn. Average values are derived using median calculations. This data is not produced by the MLS® system.
DIANE RICHARDSON

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Contact information #130, 703 - 64th Ave. S.E., Calgary, AB, T2H 2C3 Cell: 403-397-3706diane@mypadcalgary.com

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.