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.
Learn:Â Discover:Â
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.
Last updated: Oct. 16, 2021
1963
- Median home price:Â $18,000
- Median square footage:Â 1,365
- Price per square foot:Â $13.19
- Square footage you could buy for the price of a 2020 home:Â 24,587
Find Out:Â
1964
- Median home price:Â $18,900
- Median square footage:Â 1,415
- Price per square foot:Â $13.36
- Square footage you could buy for the price of a 2020 home:Â 24,274
Read:Â
1965
- Median home price:Â $20,000
- Median square footage:Â 1,495
- Price per square foot:Â $13.38
- Square footage you could buy for the price of a 2020 home:Â 24,238
Don’t Miss:Â
1966
- Median home price:Â $21,400
- Median square footage:Â 1,525
- Price per square foot:Â $14.03
- Square footage you could buy for the price of a 2020 home:Â 23,115
1967
- Median home price:Â $22,700
- Median square footage:Â 1,570
- Price per square foot:Â $14.46
- Square footage you could buy for the price of a 2020 home:Â 22,365
1968
- Median home price:Â $24,700
- Median square footage:Â 1,605
- Price per square foot:Â $15.39
- Square footage you could buy for the price of a 2020 home:Â 21,072
1969
- Median home price:Â $25,600
- Median square footage:Â 1,585
- Price per square foot:Â $16.15
- Square footage you could buy for the price of a 2020 home:Â 20,080
1970
- Median home price:Â $23,400
- Median square footage:Â 1,385
- Price per square foot:Â $16.90
- Square footage you could buy for the price of a 2020 home:Â 19,189
1971
- Median home price:Â $25,200
- Median square footage:Â 1,375
- Price per square foot:Â $18.33
- Square footage you could buy for the price of a 2020 home:Â 17,692
1972
- Median home price:Â $27,600
- Median square footage:Â 1,405
- Price per square foot:Â $19.64
- Square footage you could buy for the price of a 2020 home:Â 16,512
1973
- Median home price:Â $32,500
- Median square footage:Â 1,525
- Price per square foot:Â $21.31
- Square footage you could buy for the price of a 2020 home:Â 15,218
1974
- Median home price:Â $35,900
- Median square footage:Â 1,560
- Price per square foot:Â $23.01
- Square footage you could buy for the price of a 2020 home:Â 14,093
Steals:Â
1975
- Median home price:Â $39,300
- Median square footage:Â 1,535
- Price per square foot:Â $25.60
- Square footage you could buy for the price of a 2020 home:Â 12,668
1976
- Median home price:Â $44,200
- Median square footage:Â 1,590
- Price per square foot:Â $27.80
- Square footage you could buy for the price of a 2020 home:Â 11,665
1977
- Median home price:Â $48,800
- Median square footage:Â 1,610
- Price per square foot:Â $30.31
- Square footage you could buy for the price of a 2020 home:Â 10,699
1978
- Median home price:Â $55,700
- Median square footage:Â 1,655
- Price per square foot:Â $33.66
- Square footage you could buy for the price of a 2020 home:Â 9,635
1979
- Median home price:Â $62,900
- Median square footage:Â 1,645
- Price per square foot:Â $38.24
- Square footage you could buy for the price of a 2020 home:Â 8,481
1980
- Median home price:Â $64,600
- Median square footage:Â 1,595
- Price per square foot:Â $40.50
- Square footage you could buy for the price of a 2020 home:Â 8,007
1981
- Median home price:Â $68,900
- Median square footage:Â 1,550
- Price per square foot:Â $44.45
- Square footage you could buy for the price of a 2020 home:Â 7,296
1982
- Median home price:Â $69,300
- Median square footage:Â 1,520
- Price per square foot:Â $45.59
- Square footage you could buy for the price of a 2020 home:Â 7,113
1983
- Median home price:Â $75,300
- Median square footage:Â 1,565
- Price per square foot:Â $48.12
- Square footage you could buy for the price of a 2020 home:Â 6,739
1984
- Median home price:Â $79,900
- Median square footage:Â 1,605
- Price per square foot:Â $49.78
- Square footage you could buy for the price of a 2020 home:Â 6,515
1985
- Median home price:Â $84,300
- Median square footage:Â 1,605
- Price per square foot:Â $52.52
- Square footage you could buy for the price of a 2020 home:Â 6,175
1986
- Median home price:Â $92,000
- Median square footage:Â 1,660
- Price per square foot:Â $55.42
- Square footage you could buy for the price of a 2020 home:Â 5,852
1987
- Median home price:Â $104,500
- Median square footage:Â 1,755
- Price per square foot:Â $59.54
- Square footage you could buy for the price of a 2020 home:Â 5,447
1988
- Median home price:Â $112,500
- Median square footage:Â 1,810
- Price per square foot:Â $62.15
- Square footage you could buy for the price of a 2020 home:Â 5,218
1989
- Median home price:Â $120,000
- Median square footage:Â 1,850
- Price per square foot:Â $64.86
- Square footage you could buy for the price of a 2020 home:Â 5,000
1990
- Median home price:Â $122,900
- Median square footage:Â 1,905
- Price per square foot:Â $64.51
- Square footage you could buy for the price of a 2020 home:Â 5,027
1991
- Median home price:Â $120,000
- Median square footage:Â 1,890
- Price per square foot:Â $63.49
- Square footage you could buy for the price of a 2020 home:Â 5,108
1992
- Median home price:Â $121,500
- Median square footage:Â 1,920
- Price per square foot:Â $63.28
- Square footage you could buy for the price of a 2020 home:Â 5,125
1993
- Median home price:Â $126,500
- Median square footage:Â 1,945
- Price per square foot:Â $65.04
- Square footage you could buy for the price of a 2020 home:Â 4,986
1994
- Median home price:Â $130,000
- Median square footage:Â 1,940
- Price per square foot:Â $67.01
- Square footage you could buy for the price of a 2020 home:Â 4,840
1995
- Median home price:Â $133,900
- Median square footage:Â 1,920
- Price per square foot:Â $69.74
- Square footage you could buy for the price of a 2020 home:Â 4,650
1996
- Median home price:Â $140,000
- Median square footage:Â 1,950
- Price per square foot:Â $71.79
- Square footage you could buy for the price of a 2020 home:Â 4,517
1997
- Median home price:Â $146,000
- Median square footage:Â 1,975
- Price per square foot:Â $73.92
- Square footage you could buy for the price of a 2020 home:Â 4,387
1998
- Median home price:Â $152,500
- Median square footage:Â 2,000
- Price per square foot:Â $76.25
- Square footage you could buy for the price of a 2020 home:Â 4,253
1999
- Median home price:Â $161,000
- Median square footage:Â 2,028
- Price per square foot:Â $79.39
- Square footage you could buy for the price of a 2020 home:Â 4,085
2000
- Median home price:Â $169,000
- Median square footage:Â 2,057
- Price per square foot:Â $82.16
- Square footage you could buy for the price of a 2020 home:Â 3,947
2001
- Median home price:Â $175,200
- Median square footage:Â 2,103
- Price per square foot:Â $83.31
- Square footage you could buy for the price of a 2020 home:Â 3,893
2002
- Median home price:Â $187,600
- Median square footage:Â 2,114
- Price per square foot:Â $88.74
- Square footage you could buy for the price of a 2020 home:Â 3,654
2003
- Median home price:Â $195,000
- Median square footage:Â 2,137
- Price per square foot:Â $91.25
- Square footage you could buy for the price of a 2020 home:Â 3,554
2004
- Median home price:Â $221,000
- Median square footage:Â 2,140
- Price per square foot:Â $103.27
- Square footage you could buy for the price of a 2020 home:Â 3,140
2005
- Median home price:Â $240,900
- Median square footage:Â 2,227
- Price per square foot:Â $108.17
- Square footage you could buy for the price of a 2020 home:Â 2,998
2006
- Median home price:Â $246,500
- Median square footage:Â 2,248
- Price per square foot:Â $109.65
- Square footage you could buy for the price of a 2020 home:Â 2,958
2007
- Median home price:Â $247,900
- Median square footage:Â 2,277
- Price per square foot:Â $108.87
- Square footage you could buy for the price of a 2020 home:Â 2,979
2008
- Median home price:Â $232,100
- Median square footage:Â 2,215
- Price per square foot:Â $104.79
- Square footage you could buy for the price of a 2020 home:Â 3,095
2009
- Median home price:Â $216,700
- Median square footage:Â 2,135
- Price per square foot:Â $101.50
- Square footage you could buy for the price of a 2020 home:Â 3,195
2010
- Median home price:Â $221,800
- Median square footage:Â 2,169
- Price per square foot:Â $102.26
- Square footage you could buy for the price of a 2020 home:Â 3,171
2011
- Median home price:Â $227,200
- Median square footage:Â 2,233
- Price per square foot:Â $101.75
- Square footage you could buy for the price of a 2020 home:Â 3,187
2012
- Median home price:Â $245,200
- Median square footage:Â 2,306
- Price per square foot:Â $106.33
- Square footage you could buy for the price of a 2020 home:Â 3,050
2013
- Median home price:Â $268,900
- Median square footage:Â 2,384
- Price per square foot:Â $112.79
- Square footage you could buy for the price of a 2020 home:Â 2,875
2014
- Median home price:Â $288,500
- Median square footage:Â 2,453
- Price per square foot:Â $117.61
- Square footage you could buy for the price of a 2020 home:Â 2,757
2015
- Median home price:Â $294,200
- Median square footage:Â 2,467
- Price per square foot:Â $119.25
- Square footage you could buy for the price of a 2020 home:Â 2,719
2016
- Median home price:Â $307,800
- Median square footage:Â 2,422
- Price per square foot:Â $127.09
- Square footage you could buy for the price of a 2020 home:Â 2,552
2017
- Median home price:Â $323,100
- Median square footage:Â 2,426
- Price per square foot:Â $133.18
- Square footage you could buy for the price of a 2020 home:Â 2,435
2018
- Median home price:Â $326,400
- Median square footage:Â 2,386
- Price per square foot:Â $136.80
- Square footage you could buy for the price of a 2020 home:Â 2,371
2019
- Median home price: $321,500
- Median square footage:Â 2,322
- Price per square foot:Â $138.46
- Square footage you could buy for the price of a 2020 home:Â 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.
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