$500K is a defining price point for a Toronto condo that says a lot about the current real estate. For a half a million bucks, you'd expect to get roomy living space with some decent amenities, which you can - but only if you pick and choose your location wisely.

Here's what kind of a condo $500K buys you in Toronto.

$479,000 in Yorkville
If you have 500 grand to spend on a condo, that'll get you into the coveted Yorkville/Annex market, but without an abundance of space. This unit is a one bedroom plus den, but also has a balcony and a parking spot. The 550 square foot space is pretty but quite open (the bedroom has a glass wall). Maintenance fees are $377.57.

$499,000 on St. Clair West
This building is located right at St. Clair and Bathurst in the heart of a rapidly intensifying neighbourhood. Your $500K buys you two bedrooms, two bathrooms, a parking space, and two storage lockers. The space doesn't have a huge wow-factor, but it's functional and spacious. Maintenance fees are $592.66.

$478,000 near Queen West
If you want a condo in the heart of the Entertainment District, just under $500K will get you two small bedrooms at this building near Richmond and Peter. Amenities are nice here with a workout centre, rooftop cabanas, and a steam room. Monthly fees are pegged at $397.60, and there's one parking spot.

$505,000 at Jarvis and Charles
This gorgeous unit on Charles St. has received numerous upgrades to its appliances, cabinetry and flooring, which shows. The one bedroom plus den is smart-looking but probably not the best place for a young family based on the size and upscale design of the space. Maintenance fees are $415 a month.

$479,900 at Davenport and Lansdowne
Located near the highly successful Foundry Lofts, this modern two bedroom plus den townhouse is spread across two floors and features a small terrace. Bang for your buck is high here, as maintenance fees also come it at less than $300 a month. This is a neighbourhood on the rise, and the condo serves as a reminder than you can get some space at this price point.

$499,800 at Yonge and Sheppard
You'll get almost 700 square feet at Yonge and Sheppard divided between living space and a bedroom plus den scenario. There's also a 100 square foot balcony for personal outdoor space. This condo isn't particularly remarkable, though. Given its location at a transit nexus, this unit doesn't come cheap. Maintenance fees come in at $459.97, which include use of a party room.

Would you buy any of these units? Let us know in the comments.