Top five homes under $500,000.

Wanting to find a home under half a million? We’ve got you covered.

Date28.07.2026
Top five homes under $500,000. hero imageTop five homes under $500,000. hero image
What can you get for under $500,000 on REW right now? Quite a lot, depending on where you’re looking. Whether you’re a first-time buyer, downsizer, investor or just curious to see how far $500,000 can go, here are five homes worth a look currently posted on REW.
Sign up page for newsletter.Sign up page for newsletter.
A home in Lake Cowichan, BC.A home in Lake Cowichan, BC.
Top five homes under $500,000.

A home in Lake Cowichan, BC.

5. Lake Cowichan – Spacious townhome.

First, we have this bright two-bedroom, two-bathroom townhome in Lake Cowichan. It offers easy one-level living with an open-concept layout, an updated kitchen with granite countertops and a living room that has a large electric fireplace. You can access that partially-covered patio via sliding glass doors and head into the fully-fenced grassy backyard.

Just a short walk from town and Cowichan Lake and only about 20 minutes from central Duncan, this home is for anyone looking for low-maintenance living in a welcoming community. It’s yours for just under $500,000.

A home in Fairview, Vancouver.A home in Fairview, Vancouver.
Top five homes under $500,000.

A home in Fairview, Vancouver.

4. Fairview – Great starter in the city.

Next up, we have this charming one-bedroom, top-floor corner home in Fairview’s South Granville Place in Vancouver. The space features a cozy wood-burning fireplace, in-suite laundry, a walk-in closet and a private northwest-facing balcony with peekaboo views of the mountains and Downtown. You also get parking and an oversized storage locker.

Set in a well-maintained building with a proactive strata, this home is a great option for first-time buyers or investors. You’re just steps from the shops, cafés and restaurants along Granville St., with easy access to express transit and the future Broadway Subway. This great starter home could be yours for just under $500,000.

A home in Erin Woods, Calgary.A home in Erin Woods, Calgary.
Top five homes under $500,000.

A home in Erin Woods, Calgary.

3. Calgary – Beautifully updated.

Coming in third, we have this beautifully updated three-bedroom home in Calgary’s Erin Woods community. Inside, you’ll find a bright and functional layout with spacious living and dining areas. The kitchen features butcher-block countertops, modern cabinetry and heated tile floors. The home also comes with some important recent upgrades, including a newer roof and a brand-new hot water tank.

With parks, schools and major routes nearby, this move-in ready home is a great option for anyone looking for a well-kept property in an established Calgary neighbourhood. And it could be yours for just over $400,000.

A home in Downtown West, Vancouver.A home in Downtown West, Vancouver.
Top five homes under $500,000.

A home in Downtown West, Vancouver.

2. West End – Spacious one-bedroom in the heart of Downtown.

In second place, we have this bright corner one-bedroom home in Downtown Vancouver. The home features expansive windows that bring in plenty of natural light and have stunning city views, while the open-concept layout offers a comfortable space for both everyday living and entertaining. The home also includes a space-saving washer/dryer combo, one secure parking stall and a storage locker.

The home is steps from shopping, restaurants, cafés, nightlife and transit, with everything Downtown has to offer right outside the door. The building is also Airbnb-friendly, giving both homeowners and investors added flexibility. This home could be yours for $499,900.

A home in Ruxton Island, BC.A home in Ruxton Island, BC.
Top five homes under $500,000.

A home in Ruxton Island, BC.

1. Ruxton Island – The best deal for an ocean view.

At number one, we have this three-bedroom waterfront retreat on Ruxton Island. The home is filled with West Coast charm, featuring vaulted ceilings, skylights, bay windows and multiple decks designed to make the most of its stunning panoramic views of Stuart Channel. There’s even an outdoor patio shower for the full island-living experience.

Ruxton Island has a close-knit community, regular events and a newly-built community centre nearby. Whether you’re looking for a summer getaway or a year-round home, this is a rare chance to enjoy waterfront living in one of BC’s most peaceful island communities. It could be yours for $399,000.

From city living in Vancouver to a quiet Calgary cul-de-sac and a West Coast escape on Ruxton Island, these five homes show just how different a sub-$500,000 budget can look.

Loading...
Loading...