Here’s how much housing prices have skyrocketed over the last 50 years

If you want to buy a house this year, you may well be paying around $199,200, the median price for a home in the U.S., according to Zillow. That number might be lower if you if live somewhere like Ohio or Michigan, but if you happen to reside in a large coastal city such as New York or San Francisco, that number will be a lot higher. In fact, it could cost you well over $1 million to purchase a home. Houses weren’t always this expensive. In 1940, the median home value in the U.S. was just $2,938. In 1980, it was $47,200, and by 2000, it had risen to $119,600. Even adjusted for inflation, the median home price in 1940 would only have been $30,600 in 2000 dollars, according to data from the U.S. Census.

Source: CNBC

READ MORE

Leave a Reply