According to the U.S. Bureau of Labor Statistics, prices for housing are 805.84% higher in 2024 versus 1970 (a $967,003.30 difference in value).
Between 1970 and 2024: Housing experienced an average inflation rate of 4.17% per year. This rate of change indicates significant inflation. In other words, housing costing $120,000 in the year 1970 would cost $1,087,003.30 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.92% during this same period, inflation for housing was higher.
In the year 1970: Pricing changed by 7.06%, which is above the average yearly change for housing during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for housing was higher.
Below are calculations of equivalent buying power for Housing, over time, for $120,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1970 | $120,000.00 | 7.06% |
1971 | $125,224.01 | 4.35% |
1972 | $130,118.34 | 3.91% |
1973 | $135,697.38 | 4.29% |
1974 | $151,014.37 | 11.29% |
1975 | $166,939.98 | 10.55% |
1976 | $177,235.84 | 6.17% |
1977 | $189,306.85 | 6.81% |
1978 | $205,917.16 | 8.77% |
1979 | $230,972.10 | 12.17% |
1980 | $267,235.84 | 15.70% |
1981 | $297,920.54 | 11.48% |
1982 | $319,425.19 | 7.22% |
1983 | $327,971.26 | 2.68% |
1984 | $341,589.18 | 4.15% |
1985 | $355,156.38 | 3.97% |
1986 | $365,655.11 | 2.96% |
1987 | $376,534.23 | 2.98% |
1988 | $390,633.98 | 3.74% |
1989 | $405,519.86 | 3.81% |
1990 | $423,727.81 | 4.49% |
1991 | $440,464.92 | 3.95% |
1992 | $453,322.06 | 2.92% |
1993 | $465,545.22 | 2.70% |
1994 | $477,286.56 | 2.52% |
1995 | $489,408.28 | 2.54% |
1996 | $503,685.55 | 2.92% |
1997 | $516,847.00 | 2.61% |
1998 | $528,664.41 | 2.29% |
1999 | $540,278.95 | 2.20% |
2000 | $558,968.72 | 3.46% |
2001 | $581,411.67 | 4.02% |
2002 | $594,294.17 | 2.22% |
2003 | $609,180.05 | 2.50% |
2004 | $624,826.71 | 2.57% |
2005 | $645,240.91 | 3.27% |
2006 | $669,763.31 | 3.80% |
2007 | $690,943.36 | 3.16% |
2008 | $712,957.23 | 3.19% |
2009 | $715,572.27 | 0.37% |
2010 | $712,931.87 | -0.37% |
2011 | $722,313.02 | 1.32% |
2012 | $734,226.04 | 1.65% |
2013 | $749,509.30 | 2.08% |
2014 | $768,841.67 | 2.58% |
2015 | $784,814.20 | 2.08% |
2016 | $804,305.07 | 2.48% |
2017 | $828,227.47 | 2.97% |
2018 | $852,125.78 | 2.89% |
2019 | $876,763.31 | 2.89% |
2020 | $895,954.69 | 2.19% |
2021 | $925,450.80 | 3.29% |
2022 | $991,659.00 | 7.15% |
2023 | $1,055,511.07 | 6.44% |
2024 | $1,087,003.30 | 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 |