Detroit, Michigan prices: $30,000 in 1979 $115,804.08 in 2024

Inflation in Michigan

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Prices in Detroit, 1979-2024 ($30,000)

According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 286.01% higher in 2024 versus 1979 (a $85,804.08 difference in value).

Between 1979 and 2024: Detroit experienced an average inflation rate of 3.05% per year. This rate of change indicates significant inflation. In other words, $30,000 in Detroit in the year 1979 would cost $115,804.08 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.27% during this same period, inflation in Detroit was lower.

In the year 1979: Pricing changed by 12.71%, which is significantly above the average yearly change in Detroit during the 1979-2024 time period. Compared to inflation for all items in 1979 (11.26%), inflation in Detroit was higher.

Price Inflation in Detroit, Michigan since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1920 (21.92%), 1918 (21.89%), and 1919 (21.46%).

View price changes for other categories
Bananas · Milk · Financial services · Rent of primary residence · More

Buying power of $30,000.00 since 1979

Below are calculations of equivalent buying power in Detroit, over time, for $30,000 beginning in 1979. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1979$30,000.0012.71%
1980$34,769.0215.90%
1981$37,995.929.28%
1982$39,534.654.05%
1983$40,662.362.85%
1984$42,085.603.50%
1985$43,549.593.48%
1986$44,157.611.40%
1987$45,495.923.03%
1988$47,224.863.80%
1989$49,731.665.31%
1990$52,289.405.14%
1991$54,198.373.65%
1992$55,336.282.10%
1993$56,830.842.70%
1994$58,624.323.16%
1995$60,475.543.16%
1996$62,112.772.71%
1997$63,648.102.47%
1998$65,057.742.21%
1999$66,752.722.61%
2000$69,099.863.52%
2001$71,059.782.84%
2002$72,832.882.50%
2003$74,375.002.12%
2004$75,516.301.53%
2005$77,673.232.86%
2006$80,054.353.07%
2007$81,510.361.82%
2008$83,496.602.44%
2009$82,847.18-0.78%
2010$83,552.110.85%
2011$86,195.013.16%
2012$88,025.342.12%
2013$89,434.921.60%
2014$90,403.941.08%
2015$89,212.33-1.32%
2016$90,514.981.46%
2017$92,355.372.03%
2018$94,624.492.46%
2019$95,876.971.32%
2020$96,853.291.02%
2021$100,858.934.14%
2022$109,136.858.21%
2023$115,076.155.44%
2024$115,804.080.63%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Detroit, Michigan:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI9.7009.73310.23311.91714.52517.64221.50819.51717.44217.95818.05018.15818.46718.15817.52517.50817.21715.18313.25011.91712.59213.26713.82514.60814.53314.03314.11715.00016.65817.56717.80018.27519.86722.64224.46724.15024.55026.47527.14227.62527.72527.67528.19229.01729.41729.40829.65029.81729.90830.20030.45031.15032.53333.62535.07537.20839.50840.95042.46745.23350.13353.86756.79260.69265.30073.60085.30093.21796.99299.758103.250106.842108.333111.617115.858122.008128.283132.967135.758139.425143.825148.367152.383156.150159.608163.767169.525174.333178.683182.467185.267190.558196.400199.972204.845203.252204.981211.465215.956219.414221.791218.868222.063226.578232.145235.218237.613247.441267.749282.320284.106

Adjust Detroit prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1979 * 1979 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Detroit, Michigan was 73.600 in the year 1979 and 284.106 in 2024:

284.106 / 73.600 * $30,000 = $115,804.08

Therefore, according to U.S. Bureau of Labor Statistics, $30,000 in 1979 has the same "purchasing power" as $115,804.08 in 2024 (in the CPI category of Detroit, Michigan).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Detroit, Michigan in 1914. In addition to Detroit, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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