The Federal Reserve Economic Data (FRED) has meticulously tracked the ups and downs of the American housing market.
FOX Business previously revealed the average price of homes in the decade in which you were born, from the 1940s to the 1980s, in part one of this two-part series.
In 1940, the average cost of a home in the United States was $2,938. Nearly forty years later, in 1980, the average cost of a home was $73,600.
Over the course of that ten-year period, the average cost of a house increased to $151,200.
In the decade you were born, this was the average cost of an American home.
Continue reading to learn how housing costs rose during the 1990s and how Americans experienced the biggest surge in this period.
1990
Without accounting for inflation, the average cost of a home hit $151,200 by the second quarter of 1990, according FRED.
$354,858 would be the price in 2024 USD adjusted for inflation.
The market fluctuated over the next five years, eventually rising above the average price mentioned before in 1994.
THE ‘OLD AMERICAN DREAM DIED,’ REALTOR DISCUSSES AFFORDABLE SALARY REQUIRED FOR A HOME BUYING AND MIDDLE-CLASS LIVING IN 2024.
According to FRED, the housing market peaked in 1999 at $204,800, not accounting for inflation.
After accounting for inflation, the 2024 price would be roughly $377,080, representing an 84.12% increase in value.
