A Comparison of the Change of the Cost of Housing within the United States of America

This information was obtained from the United States Census, read our other pages for meaningful comparison to other sectors of our economy.

Historical Housing prices

Home Values

Median home values adjusted for inflation nearly quadrupled over the 60-year period since the first housing census in 1940. The median value of single-family homes in the United States rose from $30,600 in 1940 to $119,600 in 2000, after adjusting for inflation (see graph). Median home value increased in each decade of this 60-year period, rising fastest (43 percent) in the 1970s and slowest (8.2 percent) in the 1980s. Both home values adjusted and unadjusted for inflation are presented. These values refer to owner-occupied single-family housing units on less than 10 acres without a business or medical office on the property.

Among states, the District of Columbia (treated as a state in these tabulations) had the highest median home value from 1940 to 1950. In 1960, Hawaii became the leader and has remained there through 2000 (Hawaii became a state in 1959). Over this 60-year period, the lowest median home values were generally found in southern states, such as Arkansas, Mississippi, and Oklahoma. However, these states were joined by a couple of western states in earlier decades and Midwestern states in later decades. For example: New Mexico, Arkansas, Mississippi, Oklahoma, and Arizona had the lowest median home values in 1940. In 2000, the southern states remained at the bottom, but were joined by North Dakota and South Dakota, in the Midwest. Home values for those western states had increased considerably. For example, Arizona's median home value increased from well below the national median in 1940 to above it by 1980 and remained above the national level in 2000.

Median Home Values, Adjusted to 2000 dollars

Adjusted: How many dollars does it take to buy a loaf of bread? What is the average number of dollars does an American earn per year? These are the factors considered. To see how the dollars change value, thus having some idea what you must do (ROI investments) to just maintain your value for inflationary effect see "Median Home Values: Unadjusted" chart below.

2022 2000 1990 1980 1970 1960 1950 1940
United States $119,600 $101,100 $93,400 $65,300 $58,600 $44,600 $30,600
Alabama $85,100 $68,600 $67,100 $46,900 $42,400 $27,100 $16,800
Alaska $144,200 $120,600 $151,000 $87,200 $44,800 $21,100 NA
Arizona $121,300 $102,300 $108,500 $62,600 $54,700 $36,000 $14,600
Arkansas $72,800 $59,200 $61,600 $40,300 $33,000 $24,800 $11,400
California $211,500 $249,800 $167,300 $88,700 $74,400 $57,900 $36,700
Colorado $166,600 $105,700 $126,900 $66,400 $60,600 $43,300 $21,800
Connecticut $166,900 $227,200 $129,900 $97,900 $82,300 $71,900 $48,000
Delaware $130,400 $127,900 $87,900 $65,700 $61,100 $55,000 $43,300
Dist. of Columbia $157,200 $158,300 $136,200 $81,800 $75,900 $87,800 $78,800
Florida $105,500 $98,500 $89,300 $57,600 $58,100 $40,100 $23,100
Georgia $111,200 $91,100 $73,000 $56,100 $46,800 $31,700 $20,400
Hawaii $272,700 $313,400 $233,800 $134,800 $103,000 $74,400 NA
Idaho $106,300 $74,400 $90,300 $54,200 $52,200 $35,500 $16,700
Illinois $130,800 $103,400 $104,500 $76,000 $72,400 $52,400 $34,100
Indiana $94,300 $68,900 $73,600 $53,000 $50,300 $37,700 $25,000
Iowa $82,500 $58,600 $80,400 $53,400 $48,800 $38,300 $23,400
Kansas $83,500 $66,700 $74,800 $46,500 $45,800 $33,100 $18,000
Kentucky $86,700 $64,500 $67,700 $48,400 $43,400 $32,000 $21,600
Louisiana $85,000 $74,700 $85,100 $56,100 $52,700 $31,100 $14,700
Maine $98,700 $111,700 $75,000 $49,200 $43,400 $29,400 $20,900
Maryland $146,000 $148,800 $115,400 $71,800 $58,600 $48,700 $31,500
Massachusetts $185,700 $208,000 $95,800 $79,100 $68,000 $55,400 $39,900
Michigan $115,600 $77,400 $77,200 $67,200 $59,100 $45,400 $29,800
Minnesota $122,400 $94,500 $105,100 $69,100 $63,100 $47,300 $31,500
Mississippi $71,400 $58,300 $62,200 $43,000 $38,900 $25,200 $12,400
Missouri $89,900 $76,400 $72,600 $55,300 $53,700 $38,800 $24,900
Montana $99,500 $72,300 $92,000 $53,800 $53,700 $35,100 $17,200
Nebraska $88,000 $64,400 $75,200 $47,600 $46,300 $35,900 $22,400
Nevada $142,000 $122,300 $136,000 $86,000 $74,900 $53,700 $20,700
New Hampshire $133,300 $165,300 $95,000 $63,000 $52,700 $37,600 $26,100
New Jersey $170,800 $207,400 $119,200 $89,900 $76,900 $63,100 $47,100
New Mexico $108,100 $89,600 $89,700 $49,900 $52,700 $34,500 $6,800
New York $148,700 $168,100 $90,300 $86,400 $75,400 $61,500 $45,700
North Carolina $108,300 $84,100 $71,300 $49,200 $39,400 $29,700 $18,800
North Dakota $74,400 $64,900 $86,900 $49,900 $48,300 $32,700 $16,900
Ohio $103,700 $81,100 $88,900 $67,600 $66,000 $50,300 $35,500
Oklahoma $70,700 $61,500 $70,500 $42,600 $38,900 $31,700 $13,500
Oregon $152,100 $85,700 $112,600 $59,100 $51,700 $41,500 $24,400
Pennsylvania $97,000 $89,100 $77,400 $52,200 $50,300 $42,400 $33,400
Rhode Island $133,000 $170,600 $92,600 $69,900 $60,600 $59,200 $40,000
South Carolina $94,900 $78,100 $69,500 $49,900 $37,000 $31,000 $22,300
South Dakota $79,600 $57,700 $72,400 $43,800 $43,400 $32,800 $16,800
Tennessee $93,000 $74,600 $70,500 $48,000 $40,900 $31,900 $19,000
Texas $82,500 $76,100 $77,400 $46,100 $43,400 $35,200 $17,600
Utah $146,100 $88,000 $113,400 $64,500 $62,100 $44,900 $24,100
Vermont $111,500 $122,000 $83,500 $63,000 $47,800 $38,000 $29,500
Virginia $125,400 $116,300 $95,000 $65,700 $53,200 $39,900 $27,400
Washington $168,300 $119,300 $118,600 $71,100 $57,700 $43,400 $24,500
West Virginia $72,800 $61,200 $76,200 $43,400 $37,400 $33,200 $24,500
Wisconsin $112,200 $79,900 $96,200 $66,400 $62,100 $48,000 $33,600
Wyoming $96,600 $78,700 $118,400 $58,800 $60,600 $41,300 $22,600
Note: To adjust for inflation,
the 1940 to 1990 median home values were adjusted to 2000
dollars using the appropriate CPI-U-RS adjustment factor.

Median Home Values: Unadjusted

Year: 1940 1950 1960 1970 1980 1990
Adjustment factor: 10.406639 6.057971 4.927308 3.840735 1.979479 1.277636 ***** *****
2000 1990 1980 1970 1960 1950 1940 2022
United States $119,600 $79,100 $47,200 $17,000 $11,900 $7,354 $2,938
Alabama $85,100 $53,700 $33,900 $12,200 $8,600 $4,473 $1,610 $204,965
Alaska $144,200 $94,400 $76,300 $22,700 $9,100 $3,477 NA $337,373
Arizona $121,300 $80,100 $54,800 $16,300 $11,100 $5,935 $1,400 $458,907
Arkansas $72,800 $46,300 $31,100 $10,500 $6,700 $4,087 $1,100 $177,710
California $211,500 $195,500 $84,500 $23,100 $15,100 $9,564 $3,527 $816,804
Colorado $166,600 $82,700 $64,100 $17,300 $12,300 $7,151 $2,091 $604,911
Connecticut $166,900 $177,800 $65,600 $25,500 $16,700 $11,862 $4,615 $383,222
Delaware $130,400 $100,100 $44,400 $17,100 $12,400 $9,079 $4,159 $355,181
Dist. of Columbia $157,200 $123,900 $68,800 $21,300 $15,400 $14,498 $7,568 $826,124
Florida $105,500 $77,100 $45,100 $15,000 $11,800 $6,612 $2,218 $415,762
Georgia $111,200 $71,300 $36,900 $14,600 $9,500 $5,235 $1,957 $318,273
Hawaii $272,700 $245,300 $118,100 $35,100 $20,900 $12,283 NA $1,038,544
Idaho $106,300 $58,200 $45,600 $14,100 $10,600 $5,852 $1,600 $476,198
Illinois $130,800 $80,900 $52,800 $19,800 $14,700 $8,646 $3,277 $269,575
Indiana $94,300 $53,900 $37,200 $13,800 $10,200 $6,226 $2,406 $221,437
Iowa $82,500 $45,900 $40,600 $13,900 $9,900 $6,320 $2,253 $192,568
Kansas $83,500 $52,200 $37,800 $12,100 $9,300 $5,462 $1,733 $206,176
Kentucky $86,700 $50,500 $34,200 $12,600 $8,800 $5,283 $2,074 $197,644
Louisiana $85,000 $58,500 $43,000 $14,600 $10,700 $5,141 $1,414 $214,522
Maine $98,700 $87,400 $37,900 $12,800 $8,800 $4,856 $2,008 $360,836
Maryland $146,000 $116,500 $58,300 $18,700 $11,900 $8,033 $3,031 $415,797
Massachusetts $185,700 $162,800 $48,400 $20,600 $13,800 $9,144 $3,837 $611,819
Michigan $115,600 $60,600 $39,000 $17,500 $12,000 $7,496 $2,863 $234,386
Minnesota $122,400 $74,000 $53,100 $18,000 $12,800 $7,806 $3,024 $340,122
Mississippi $71,400 $45,600 $31,400 $11,200 $7,900 $4,159 $1,189 $164,132
Missouri $89,900 $59,800 $36,700 $14,400 $10,900 $6,399 $2,392 $231,062
Montana $99,500 $56,600 $46,500 $14,000 $10,900 $5,797 $1,651 $449,723
Nebraska $88,000 $50,400 $38,000 $12,400 $9,400 $5,918 $2,156 $239,814
Nevada $142,000 $95,700 $68,700 $22,400 $15,200 $8,859 $1,987 $484,530
New Hampshire $133,300 $129,400 $48,000 $16,400 $10,700 $6,199 $2,505 $450,827
New Jersey $170,800 $162,300 $60,200 $23,400 $15,600 $10,408 $4,528 $348,300.
New Mexico $108,100 $70,100 $45,300 $13,000 $10,700 $5,697 $656 $296,395
New York $148,700 $131,600 $45,600 $22,500 $15,300 $10,152 $4,389 $375,719
North Carolina $108,300 $65,800 $36,000 $12,800 $8,000 $4,901 $1,802 $322,055
North Dakota $74,400 $50,800 $43,900 $13,000 $9,800 $5,396 $1,626 $282,461
Ohio $103,700 $63,500 $44,900 $17,600 $13,400 $8,304 $3,415 $213,360
Oklahoma $70,700 $48,100 $35,600 $11,100 $7,900 $5,228 $1,293 $181,574
Oregon $152,100 $67,100 $56,900 $15,400 $10,500 $6,846 $2,343 $534,956
Pennsylvania $97,000 $69,700 $39,100 $13,600 $10,200 $6,992 $3,205 $267,549
Rhode Island $133,000 $133,500 $46,800 $18,200 $12,300 $9,767 $3,848 $443,482
South Carolina $94,900 $61,100 $35,100 $13,000 $7,500 $5,112 $2,145 $293,445
South Dakota $79,600 $45,200 $36,600 $11,400 $8,800 $5,410 $1,618 $292,488
Tennessee $93,000 $58,400 $35,600 $12,500 $8,300 $5,268 $1,826 $297,943
Texas $82,500 $59,600 $39,100 $12,000 $8,800 $5,805 $1,693 $314,718
Utah $146,100 $68,900 $57,300 $16,800 $12,600 $7,409 $2,320 $588,862
Vermont $111,500 $95,500 $42,200 $16,400 $9,700 $6,277 $2,836 $358,862
Virginia $125,400 $91,000 $48,000 $17,100 $10,800 $6,581 $2,633 $379,206
Washington $168,300 $93,400 $59,900 $18,500 $11,700 $7,169 $2,359 $640,494
West Virginia $72,800 $47,900 $38,500 $11,300 $7,600 $5,473 $2,350 $137,286
Wisconsin $112,200 $62,500 $48,600 $17,300 $12,600 $7,927 $3,232 $266,750
Wyoming $96,600 $61,600 $59,800 $15,300 $12,300 $6,811 $2,174 $320,939

In the state of New Jersey the median property (home) is valued at $348,300.00.
tax upon such a home is $6,579.00 (avg.) per year.

NA: Not Available

Source: U.S. Census Bureau

>
  • The cost of living in 1940
  • Car: $800
  • Gasoline: 18 cents/gal
  • House: $6,550
  • Bread: 8 cents/loaf
  • Milk: 34 cents/gal
  • Postage Stamp: 3 cents
  • Stock Market: 131
  • Average Annual Salary: $1,900
  • Minimum Wage: 30 cents per hour
  • Population United States: 131,669,275
  • population New Jersey : 4,160,165
  • The cost of living in 1949
  • Car: $1,650
  • Gasoline: 26 cents/gal
  • House: $14,500
  • Bread: 14 cents/loaf
  • Milk: 84 cents/gal
  • Postage Stamp: 3 cents
  • Stock Market: 200
  • Average Annual Salary: $3,600
  • Minimum Wage: 40 cents per hour
  • Population United States:150,697,361
  • population New Jersey : 4,835,329
  • 1050s
  • Minimum wage: $0.75/hour
  • Gas: $0.27 or 22m
  • Movie ticket: $0.48 or 38m
  • Rent: $42 or 56hrs
  • Population United States:150,697,361
  • population New Jersey : 4,835,329
  • 1960s
  • Minimum wage: $1/hour
  • Gas: $0.31 or 19m
  • Movie ticket: $0.69 or 41m
  • Rent: $71 or 71hrs
  • Population United States:179,323,175
  • population New Jersey : 6,066,782
  • 1970s
  • Minimum wage: $1.60/hour
  • Gas: $0.36 or 14m
  • Movie ticket: $1.55 or 58m
  • Rent: $108 or 67.5hrs
  • Population United States:203,211,926
  • population New Jersey : 7,168,164
  • The 1980s
  • Minimum wage: $3.10/hour
  • Gas: $1.25 or 24m
  • Movie ticket: $2.60 or 50m
  • Rent: $243 or 78hrs
  • Population United States:226,545,805
  • population New Jersey : 7,364,823
map of the USA
Sussex County Passaic County Sussex County New Jersey Warren County, New Jersey Morris County, New Jersey Essex County, New Jersey Hudson County, New Jersey Bergen County, New Jersey Hunterdon County, New Jersey Somerset County, New Jersey Union County, New Jersey Mercer County, New Jersey Middlesex County, New Jersey Monmouth County, New Jersey Ocean County, New Jersey Burlington County, New Jersey Atlantic County, New Jersey Camden County, New Jersey Gloucester County, New Jersey Cape May County, New Jersey Cumberland County, New Jersey Salem County, New Jersey
Finding Your Castle

My Direct Line ...Phone: 856. 974.1981

David Cohen
Sales associate with
Weichert Realtors,
5070 Route 42,
Turnersville, New Jersey 08012
United States of America
Earth

Office 856.227.1950

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