According to the U.S. Bureau of Labor Statistics, prices for housing are 807.18% higher in 2024 versus 1970 (a $2,905,865.11 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 $360,000 in the year 1970 would cost $3,265,865.11 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.93% 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 $360,000 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 | $360,000.00 | 7.06% |
1971 | $375,672.02 | 4.35% |
1972 | $390,355.03 | 3.91% |
1973 | $407,092.14 | 4.29% |
1974 | $453,043.11 | 11.29% |
1975 | $500,819.95 | 10.55% |
1976 | $531,707.52 | 6.17% |
1977 | $567,920.54 | 6.81% |
1978 | $617,751.48 | 8.77% |
1979 | $692,916.31 | 12.17% |
1980 | $801,707.52 | 15.70% |
1981 | $893,761.62 | 11.48% |
1982 | $958,275.57 | 7.22% |
1983 | $983,913.78 | 2.68% |
1984 | $1,024,767.54 | 4.15% |
1985 | $1,065,469.15 | 3.97% |
1986 | $1,096,965.34 | 2.96% |
1987 | $1,129,602.70 | 2.98% |
1988 | $1,171,901.94 | 3.74% |
1989 | $1,216,559.59 | 3.81% |
1990 | $1,271,183.43 | 4.49% |
1991 | $1,321,394.76 | 3.95% |
1992 | $1,359,966.19 | 2.92% |
1993 | $1,396,635.67 | 2.70% |
1994 | $1,431,859.68 | 2.52% |
1995 | $1,468,224.85 | 2.54% |
1996 | $1,511,056.64 | 2.92% |
1997 | $1,550,541.00 | 2.61% |
1998 | $1,585,993.24 | 2.29% |
1999 | $1,620,836.86 | 2.20% |
2000 | $1,676,906.17 | 3.46% |
2001 | $1,744,235.00 | 4.02% |
2002 | $1,782,882.50 | 2.22% |
2003 | $1,827,540.15 | 2.50% |
2004 | $1,874,480.14 | 2.57% |
2005 | $1,935,722.74 | 3.27% |
2006 | $2,009,289.94 | 3.80% |
2007 | $2,072,830.09 | 3.16% |
2008 | $2,138,871.68 | 3.19% |
2009 | $2,146,716.82 | 0.37% |
2010 | $2,138,795.60 | -0.37% |
2011 | $2,166,939.05 | 1.32% |
2012 | $2,202,678.11 | 1.65% |
2013 | $2,248,527.90 | 2.08% |
2014 | $2,306,525.02 | 2.58% |
2015 | $2,354,442.60 | 2.08% |
2016 | $2,412,915.22 | 2.48% |
2017 | $2,484,682.42 | 2.97% |
2018 | $2,556,377.35 | 2.89% |
2019 | $2,630,289.94 | 2.89% |
2020 | $2,687,864.07 | 2.19% |
2021 | $2,776,352.41 | 3.29% |
2022 | $2,974,977.01 | 7.15% |
2023 | $3,166,533.22 | 6.44% |
2024 | $3,265,865.11 | 3.14%* |
* 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 | 330.215 |