What the Average Home Price Today Could Buy the Year You Were Born

The fact that the cost of an average home has skyrocketed over the years is hardly news to anyone, particularly if you're old enough to have actually purchased a home in previous decades. However, what's sometimes not as clear is just how much of that change is due to the natural creep of inflation — everything costs more now than it did in years past, after all — and how much is a sign of home prices increasing relative to everything else. With the shifting value of currency, the dynamic behavior of the housing market and the constant changes in the size and style of houses, the real causes of why it costs so much more to buy a home nowadays can be hard to suss out.

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Discover: The Cost To Own a 3-Bedroom Home in Every State

To offer more perspective, GOBankingRates conducted a study that focused on the size of the home you could buy in the past — dating as far back as 1963 — with the median home price of today, or about $324,300. The study pulled the median price of a home for each given year from the U.S. Census Bureau and combined it with U.S. Housing and Urban Development data to estimate the price per square foot in past housing markets.

Keep reading to discover what you could have purchased in the year you were born -- especially as compared to the exorbitant prices of today.

Last updated: July 5, 2021

1963

• Median home price: $18,000
• Median square footage: 1,365
• Price per square foot: $13.19
• Square footage you could buy for the price of a 2020 home: 24,587

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1964

• Median home price: $18,900
• Median square footage: 1,415
• Price per square foot: $13.36
• Square footage you could buy for the price of a 2020 home: 24,274

Read: Homes Won’t Be Affordable in These Cities Within 10 Years

1965

• Median home price: $20,000
• Median square footage: 1,495
• Price per square foot: $13.38
• Square footage you could buy for the price of a 2020 home: 24,238

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1966

• Median home price: $21,400
• Median square footage: 1,525
• Price per square foot: $14.03
• Square footage you could buy for the price of a 2020 home: 23,115

1967

• Median home price: $22,700
• Median square footage: 1,570
• Price per square foot: $14.46
• Square footage you could buy for the price of a 2020 home: 22,365

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1968

• Median home price: $24,700
• Median square footage: 1,605
• Price per square foot: $15.39
• Square footage you could buy for the price of a 2020 home: 21,072

1969

• Median home price: $25,600
• Median square footage: 1,585
• Price per square foot: $16.15
• Square footage you could buy for the price of a 2020 home: 20,080

1970

• Median home price: $23,400
• Median square footage: 1,385
• Price per square foot: $16.90
• Square footage you could buy for the price of a 2020 home: 19,189

1971

• Median home price: $25,200
• Median square footage: 1,375
• Price per square foot: $18.33
• Square footage you could buy for the price of a 2020 home: 17,692

1972

• Median home price: $27,600
• Median square footage: 1,405
• Price per square foot: $19.64
• Square footage you could buy for the price of a 2020 home: 16,512

1973

• Median home price: $32,500
• Median square footage: 1,525
• Price per square foot: $21.31
• Square footage you could buy for the price of a 2020 home: 15,218

1974

• Median home price: $35,900
• Median square footage: 1,560
• Price per square foot: $23.01
• Square footage you could buy for the price of a 2020 home: 14,093

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1975

• Median home price: $39,300
• Median square footage: 1,535
• Price per square foot: $25.60
• Square footage you could buy for the price of a 2020 home: 12,668

1976

• Median home price: $44,200
• Median square footage: 1,590
• Price per square foot: $27.80
• Square footage you could buy for the price of a 2020 home: 11,665

1977

• Median home price: $48,800
• Median square footage: 1,610
• Price per square foot: $30.31
• Square footage you could buy for the price of a 2020 home: 10,699

1978

• Median home price: $55,700
• Median square footage: 1,655
• Price per square foot: $33.66
• Square footage you could buy for the price of a 2020 home: 9,635

1979

• Median home price: $62,900
• Median square footage: 1,645
• Price per square foot: $38.24
• Square footage you could buy for the price of a 2020 home: 8,481

1980

• Median home price: $64,600
• Median square footage: 1,595
• Price per square foot: $40.50
• Square footage you could buy for the price of a 2020 home: 8,007

1981

• Median home price: $68,900
• Median square footage: 1,550
• Price per square foot: $44.45
• Square footage you could buy for the price of a 2020 home: 7,296

1982

• Median home price: $69,300
• Median square footage: 1,520
• Price per square foot: $45.59
• Square footage you could buy for the price of a 2020 home: 7,113

1983

• Median home price: $75,300
• Median square footage: 1,565
• Price per square foot: $48.12
• Square footage you could buy for the price of a 2020 home: 6,739

1984

• Median home price: $79,900
• Median square footage: 1,605
• Price per square foot: $49.78
• Square footage you could buy for the price of a 2020 home: 6,515

1985

• Median home price: $84,300
• Median square footage: 1,605
• Price per square foot: $52.52
• Square footage you could buy for the price of a 2020 home: 6,175

Check Out: 50 Places Where Home Prices Are Rising Faster Than Rent

1986

• Median home price: $92,000
• Median square footage: 1,660
• Price per square foot: $55.42
• Square footage you could buy for the price of a 2020 home: 5,852

1987

• Median home price: $104,500
• Median square footage: 1,755
• Price per square foot: $59.54
• Square footage you could buy for the price of a 2020 home: 5,447

1988

• Median home price: $112,500
• Median square footage: 1,810
• Price per square foot: $62.15
• Square footage you could buy for the price of a 2020 home: 5,218

1989

• Median home price: $120,000
• Median square footage: 1,850
• Price per square foot: $64.86
• Square footage you could buy for the price of a 2020 home: 5,000

1990

• Median home price: $122,900
• Median square footage: 1,905
• Price per square foot: $64.51
• Square footage you could buy for the price of a 2020 home: 5,027

1991

• Median home price: $120,000
• Median square footage: 1,890
• Price per square foot: $63.49
• Square footage you could buy for the price of a 2020 home: 5,108

1992

• Median home price: $121,500
• Median square footage: 1,920
• Price per square foot: $63.28
• Square footage you could buy for the price of a 2020 home: 5,125

1993

• Median home price: $126,500
• Median square footage: 1,945
• Price per square foot: $65.04
• Square footage you could buy for the price of a 2020 home: 4,986

1994

• Median home price: $130,000
• Median square footage: 1,940
• Price per square foot: $67.01
• Square footage you could buy for the price of a 2020 home: 4,840

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1995

• Median home price: $133,900
• Median square footage: 1,920
• Price per square foot: $69.74
• Square footage you could buy for the price of a 2020 home: 4,650

1996

• Median home price: $140,000
• Median square footage: 1,950
• Price per square foot: $71.79
• Square footage you could buy for the price of a 2020 home: 4,517

1997

• Median home price: $146,000
• Median square footage: 1,975
• Price per square foot: $73.92
• Square footage you could buy for the price of a 2020 home: 4,387

1998

• Median home price: $152,500
• Median square footage: 2,000
• Price per square foot: $76.25
• Square footage you could buy for the price of a 2020 home: 4,253

1999

• Median home price: $161,000
• Median square footage: 2,028
• Price per square foot: $79.39
• Square footage you could buy for the price of a 2020 home: 4,085

2000

• Median home price: $169,000
• Median square footage: 2,057
• Price per square foot: $82.16
• Square footage you could buy for the price of a 2020 home: 3,947

2001

• Median home price: $175,200
• Median square footage: 2,103
• Price per square foot: $83.31
• Square footage you could buy for the price of a 2020 home: 3,893

2002

• Median home price: $187,600
• Median square footage: 2,114
• Price per square foot: $88.74
• Square footage you could buy for the price of a 2020 home: 3,654

2003

• Median home price: $195,000
• Median square footage: 2,137
• Price per square foot: $91.25
• Square footage you could buy for the price of a 2020 home: 3,554

2004

• Median home price: $221,000
• Median square footage: 2,140
• Price per square foot: $103.27
• Square footage you could buy for the price of a 2020 home: 3,140

Take a Look: 10 Effects of Inflation — and How To Protect Your Money Now

2005

• Median home price: $240,900
• Median square footage: 2,227
• Price per square foot: $108.17
• Square footage you could buy for the price of a 2020 home: 2,998

2006

• Median home price: $246,500
• Median square footage: 2,248
• Price per square foot: $109.65
• Square footage you could buy for the price of a 2020 home: 2,958

2007

• Median home price: $247,900
• Median square footage: 2,277
• Price per square foot: $108.87
• Square footage you could buy for the price of a 2020 home: 2,979

2008

• Median home price: $232,100
• Median square footage: 2,215
• Price per square foot: $104.79
• Square footage you could buy for the price of a 2020 home: 3,095

2009

• Median home price: $216,700
• Median square footage: 2,135
• Price per square foot: $101.50
• Square footage you could buy for the price of a 2020 home: 3,195

2010

• Median home price: $221,800
• Median square footage: 2,169
• Price per square foot: $102.26
• Square footage you could buy for the price of a 2020 home: 3,171

2011

• Median home price: $227,200
• Median square footage: 2,233
• Price per square foot: $101.75
• Square footage you could buy for the price of a 2020 home: 3,187

2012

• Median home price: $245,200
• Median square footage: 2,306
• Price per square foot: $106.33
• Square footage you could buy for the price of a 2020 home: 3,050

Read: The Most and Least Affordable States for Millennials To Buy Homes in

2013

• Median home price: $268,900
• Median square footage: 2,384
• Price per square foot: $112.79
• Square footage you could buy for the price of a 2020 home: 2,875

2014

• Median home price: $288,500
• Median square footage: 2,453
• Price per square foot: $117.61
• Square footage you could buy for the price of a 2020 home: 2,757

2015

• Median home price: $294,200
• Median square footage: 2,467
• Price per square foot: $119.25
• Square footage you could buy for the price of a 2020 home: 2,719

2016

• Median home price: $307,800
• Median square footage: 2,422
• Price per square foot: $127.09
• Square footage you could buy for the price of a 2020 home: 2,552

2017

• Median home price: $323,100
• Median square footage: 2,426
• Price per square foot: $133.18
• Square footage you could buy for the price of a 2020 home: 2,435

2018

• Median home price: $326,400
• Median square footage: 2,386
• Price per square foot: $136.80
• Square footage you could buy for the price of a 2020 home: 2,371

2019

• Median home price: $321,500
• Median square footage: 2,322
• Price per square foot: $138.46
• Square footage you could buy for the price of a 2020 home: 2,342

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Erica Corbin contributed to the reporting of this article.

Methodology: GOBankingRates determined what today's average home price could buy you, dating back to 1963, using in the following data points: (1) the average median home price per year from 1963-2020, found by taking the average of the monthly median prices of the year, sourced from the United States Census Bureau's new residential sales historical data (data only went as far back as January 1963); (2) median square footage of new residential homes, sourced from the United States Census Bureau's characteristics of new housing data from 1970 onward and the United States Housing and Urban Development's characteristics of new one-family homes for 1969 and before. These two factors were divided to get each year's (3) price per square foot, which was then divided by the 2020 median home sale price as sourced from the United States Census Bureau's new residential sales historical data, which in turn gave (4) the amount of square footage a 2020 home price could buy you for that year. All data was collected and up to date as of Oct. 7, 2020.

About the Author

Joel Anderson

Joel Anderson is a business and finance writer with over a decade of experience writing about the wide world of finance. Based in Los Angeles, he specializes in writing about the financial markets, stocks, macroeconomic concepts and focuses on helping make complex financial concepts digestible for the retail investor.

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