"The Average Cost of an American Home by Decade"
The average cost of American homes has fluctuated significantly over the past 80 years, with prices increasing due to inflation. In 1940, the average cost of a home was $2,938, equivalent to $64,372.84 in 2024 dollars. By 1988, the average cost had surged to $151,200, which would be $374,032.22 in 2024. The housing market has experienced major ups and downs, and part two of the series will explore the 21st century's developments.