Talk about million-dollar homes comes hardly surprising in Vancouver.

In a place as expensive as this city, many properties typically exceed that price.

But what if one can only afford half?

How much house can $500,000 buy?

RBC’s online mortgage calculator shows what a 25-year mortgage of $500,000 with an interest rate of 2.29 percent means.

For a borrower, the monthly payment comes to $2,187.88.

In the last two weeks, a number of Vancouver condo units sold at or below $500,000, based on tracking by real-estate site fisherly.com.

One is 304- 989 Beatty Street in Yaletown, which was listed by Oakwyn Realty Downtown Ltd.

The 471-square-foot studio unit sold for exactly $500,000.

A buyer picked up the unit at the Nova condo development of Bosa Properties on August 28.

It was listed originally and eight days earlier for $529,000.

A West End-area condo unit at The Californian development sold for less than $500,000.

The 309-1080 Pacific Street property went for $488,700 on August 31.

The transaction came five days after Stilhavn Real Estate Services listed the property on August 26 for $448,000.

The condo unit measures 520 square feet.

On the East Side of Vancouver, a condo unit in the Collingwood neighbourhood sold for less than $500,000.

RE/MAX Select Properties listed 2703-5380 Oben Street on August 27 for $499,000.

The penthouse unit sold four days later on August 31 for $490,000.

The same property was previously listed in 2018 for $528,000.

The 556-square-feet condo is part of the Urba condo development by Bosa Properties.

Current rules provide that a purchase of $500,000 or less requires a five percent downpayment.

That's $25,000.

In addition to a monthly mortgage, a condo buyer needs to pay strata fees.