Over the years, there has been a significant increase in median household income and median home prices in America. In 1960, the median household income was $5,600, and the median home price was $12,700, resulting in a ratio of 2.25x. By 2023, the median household income had risen to $75,000, and the median home price had increased to $495,000, resulting in a ratio of 6.6x. Similarly, in 2024, the median home price in America was $421,000, with a corresponding median household income of $75,000, resulting in a ratio of 5.6x. Additionally, new home prices tripled in the 70s, doubled again in the 80s, took 16 years to double post-Berlin Wall, and only increased by about 60% post-GFC from the prior peak in '06. U.S. home prices have seen significant gains over the past 40 years, with the biggest increases in Washington, Oregon, Rhode Island, Massachusetts, and California. In the same period, overall inflation rose by 203%, while median U.S. household incomes increased by 233%.
During that 40-year span, overall inflation rose +203%, while median U.S. household incomes rose +233% https://t.co/HVJIz0tHdJ
Over the past 40 years, U.S. home prices have soared a staggering +494% Biggest home price gains between March 1984 and March 2024: +828% in Washington +699% in Oregon +668% in Rhode Island +664% in Massachusetts +664% in California https://t.co/4sEkH3tS5X https://t.co/cCzViLv9sO
https://t.co/lmd4x2o8Yt Median new prices 3x’d in the 70s, then doubled again in the 80s. Post Berlin Wall, it took 16yrs for new home prices to 2x & post-GFC, median price is only up ~60% from prior peak in ‘06. https://t.co/PUU6FZ5Sbs
1960 America Median household income: $5,600 Median home price: $12,700 2.25x 2024 America Median household income: $75,000 Median home price: $421,000 5.6x
1960 America Median household income: $5,600 Median home price: $12,700 2.25x 😀 2023 America Median household income: $75,000 Median home price: $495,000 6.6x 😟
1960 Median household income: $5,600 Median home price: $12,700 2.25x 😀 2023- Median household income: $75,000 Median home price: $495,000 6.6x 😟