According to the U.S. Bureau of Labor Statistics, prices for housing are 971.07% higher in 2024 versus 1967 (a $5,709,883.07 difference in value).
Between 1967 and 2024: Housing experienced an average inflation rate of 4.25% per year. This rate of change indicates significant inflation. In other words, housing costing $588,000 in the year 1967 would cost $6,297,883.07 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% during this same period, inflation for housing was higher.
Below are calculations of equivalent buying power for Housing, over time, for $588,000 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1967 | $588,000.00 | - |
1968 | $611,802.10 | 4.05% |
1969 | $649,415.29 | 6.15% |
1970 | $695,256.37 | 7.06% |
1971 | $725,523.24 | 4.35% |
1972 | $753,880.06 | 3.91% |
1973 | $786,203.90 | 4.29% |
1974 | $874,947.53 | 11.29% |
1975 | $967,217.39 | 10.55% |
1976 | $1,026,869.57 | 6.17% |
1977 | $1,096,806.60 | 6.81% |
1978 | $1,193,043.48 | 8.77% |
1979 | $1,338,206.90 | 12.17% |
1980 | $1,548,311.84 | 15.70% |
1981 | $1,726,092.95 | 11.48% |
1982 | $1,850,686.66 | 7.22% |
1983 | $1,900,200.90 | 2.68% |
1984 | $1,979,100.45 | 4.15% |
1985 | $2,057,706.15 | 3.97% |
1986 | $2,118,533.73 | 2.96% |
1987 | $2,181,565.22 | 2.98% |
1988 | $2,263,256.37 | 3.74% |
1989 | $2,349,502.25 | 3.81% |
1990 | $2,454,995.50 | 4.49% |
1991 | $2,551,967.02 | 3.95% |
1992 | $2,626,458.77 | 2.92% |
1993 | $2,697,277.36 | 2.70% |
1994 | $2,765,304.35 | 2.52% |
1995 | $2,835,535.23 | 2.54% |
1996 | $2,918,254.87 | 2.92% |
1997 | $2,994,509.75 | 2.61% |
1998 | $3,062,977.51 | 2.29% |
1999 | $3,130,269.87 | 2.20% |
2000 | $3,238,554.72 | 3.46% |
2001 | $3,368,584.71 | 4.02% |
2002 | $3,443,223.39 | 2.22% |
2003 | $3,529,469.27 | 2.50% |
2004 | $3,620,122.94 | 2.57% |
2005 | $3,738,398.80 | 3.27% |
2006 | $3,880,476.76 | 3.80% |
2007 | $4,003,189.81 | 3.16% |
2008 | $4,130,733.79 | 3.19% |
2009 | $4,145,884.86 | 0.37% |
2010 | $4,130,586.87 | -0.37% |
2011 | $4,184,939.40 | 1.32% |
2012 | $4,253,961.08 | 1.65% |
2013 | $4,342,509.30 | 2.08% |
2014 | $4,454,517.27 | 2.58% |
2015 | $4,547,058.95 | 2.08% |
2016 | $4,659,985.22 | 2.48% |
2017 | $4,798,586.90 | 2.97% |
2018 | $4,937,049.00 | 2.89% |
2019 | $5,079,794.00 | 2.89% |
2020 | $5,190,985.07 | 2.19% |
2021 | $5,361,879.73 | 3.29% |
2022 | $5,745,477.00 | 7.15% |
2023 | $6,115,423.33 | 6.44% |
2024 | $6,297,883.07 | 2.98%* |
* 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 Housing:
Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 30.785 | 32.031 | 34.000 | 36.400 | 37.985 | 39.469 | 41.162 | 45.808 | 50.638 | 53.762 | 57.423 | 62.462 | 70.062 | 81.062 | 90.369 | 96.892 | 99.485 | 103.615 | 107.731 | 110.915 | 114.215 | 118.492 | 123.008 | 128.531 | 133.608 | 137.508 | 141.215 | 144.777 | 148.454 | 152.785 | 156.777 | 160.362 | 163.885 | 169.554 | 176.362 | 180.269 | 184.785 | 189.531 | 195.723 | 203.162 | 209.586 | 216.264 | 217.057 | 216.256 | 219.102 | 222.715 | 227.351 | 233.215 | 238.060 | 243.973 | 251.229 | 258.478 | 265.952 | 271.773 | 280.720 | 300.803 | 320.172 | 329.724 |