The price of a house the year you turned 25
Homeownership lets you build equity, put down roots, and make a place your own. But in recent years, achieving this part of the American dream has become much more difficult.
Adjusting for inflation, the cost of a newly constructed single-family home in 2022 was over 2.5 times more expensive than in the 1960s. So for young adults in their mid-20s—an age when many people think they should buy a home—the goal might seem out of reach. The actual average age of a first-time home buyer in 2023 was 35, according to the National Association of Realtors. Additionally, buying a median-priced home in the U.S. in 2024 requires a household income of $114,000, almost $30,000 more than the national average.
To illustrate how home prices have grown, Stacker ran the numbers on the cost of a new, single-family home for the last 60 years. Using Census Bureau data, we analyzed the median sales price for a newly constructed home from 1963 to 2023 and the Consumer Price Index to calculate each year's absolute and inflation-adjusted prices.
The basis of the Census Bureau data is new constructions, which are often more expensive than existing homes. The list price includes both the house and the land. This story does not include houses built for rent, those built by the owner, or ones by a general contractor on the owner's land.
It's true that location plays a role in home prices. For example, homes in the Northeast and West have always generally been higher than the rest of the country. But the data still shows that average prices have grown substantially over time.
Check out the cost of buying a home the year you turned 25.
Homes continue to get more expensive
Adjusted for inflation, the cost of a newly constructed family home is more than twice as expensive in the early 2020s as it was in 1960. With some fluctuation over the years, costs have grown steadily, reaching a median of more than $450,000 by 2022—with regions like the Northeast showing even higher prices.
1963
- Median sales price: $18,000
- Inflation-adjusted price: $179,041
- Median sales price by region:
-- Northeast: $20,300 ($201,918 in today's dollars)
-- Midwest: $17,900 ($178,046 in today's dollars)
-- South: $16,100 ($160,142 in today's dollars)
-- West: $18,800 ($186,998 in today's dollars)
1964
- Median sales price: $18,900
- Inflation-adjusted price: $185,540
- Median sales price by region:
-- Northeast: $20,300 ($199,284 in today's dollars)
-- Midwest: $19,400 ($190,448 in today's dollars)
-- South: $16,700 ($163,943 in today's dollars)
-- West: $20,400 ($200,265 in today's dollars)
1965
- Median sales price: $20,000
- Inflation-adjusted price: $193,287
- Median sales price by region:
-- Northeast: $21,500 ($207,784 in today's dollars)
-- Midwest: $21,600 ($208,750 in today's dollars)
-- South: $17,500 ($169,126 in today's dollars)
-- West: $21,600 ($208,750 in today's dollars)
1966
- Median sales price: $21,400
- Inflation-adjusted price: $200,814
- Median sales price by region:
-- Northeast: $23,500 ($220,520 in today's dollars)
-- Midwest: $23,200 ($217,705 in today's dollars)
-- South: $18,200 ($170,786 in today's dollars)
-- West: $23,200 ($217,705 in today's dollars)
1967
- Median sales price: $22,700
- Inflation-adjusted price: $207,242
- Median sales price by region:
-- Northeast: $25,400 ($231,892 in today's dollars)
-- Midwest: $25,100 ($229,153 in today's dollars)
-- South: $19,400 ($177,115 in today's dollars)
-- West: $24,100 ($220,024 in today's dollars)
1968
- Median sales price: $24,700
- Inflation-adjusted price: $216,319
- Median sales price by region:
-- Northeast: $27,700 ($242,593 in today's dollars)
-- Midwest: $27,400 ($239,966 in today's dollars)
-- South: $21,500 ($188,294 in today's dollars)
-- West: $25,100 ($219,823 in today's dollars)
1969
- Median sales price: $25,600
- Inflation-adjusted price: $212,640
- Median sales price by region:
-- Northeast: $31,600 ($262,478 in today's dollars)
-- Midwest: $27,600 ($229,253 in today's dollars)
-- South: $22,800 ($189,383 in today's dollars)
-- West: $25,300 ($210,148 in today's dollars)
1970
- Median sales price: $23,400
- Inflation-adjusted price: $183,566
- Median sales price by region:
-- Northeast: $30,300 ($237,694 in today's dollars)
-- Midwest: $24,400 ($191,411 in today's dollars)
-- South: $20,300 ($159,247 in today's dollars)
-- West: $24,000 ($188,273 in today's dollars)
1971
- Median sales price: $25,200
- Inflation-adjusted price: $189,670
- Median sales price by region:
-- Northeast: $30,600 ($230,313 in today's dollars)
-- Midwest: $27,200 ($204,723 in today's dollars)
-- South: $22,500 ($169,348 in today's dollars)
-- West: $25,500 ($191,928 in today's dollars)
1972
- Median sales price: $27,600
- Inflation-adjusted price: $201,150
- Median sales price by region:
-- Northeast: $31,400 ($228,845 in today's dollars)
-- Midwest: $29,300 ($213,540 in today's dollars)
-- South: $25,800 ($188,032 in today's dollars)
-- West: $27,500 ($200,421 in today's dollars)
1973
- Median sales price: $32,500
- Inflation-adjusted price: $222,910
- Median sales price by region:
-- Northeast: $37,100 ($254,460 in today's dollars)
-- Midwest: $32,900 ($225,654 in today's dollars)
-- South: $30,900 ($211,936 in today's dollars)
-- West: $32,400 ($222,224 in today's dollars)
1974
- Median sales price: $35,900
- Inflation-adjusted price: $221,807
- Median sales price by region:
-- Northeast: $40,100 ($247,756 in today's dollars)
-- Midwest: $36,100 ($223,042 in today's dollars)
-- South: $34,500 ($213,157 in today's dollars)
-- West: $35,800 ($221,189 in today's dollars)
1975
- Median sales price: $39,300
- Inflation-adjusted price: $222,476
- Median sales price by region:
-- Northeast: $44,000 ($249,082 in today's dollars)
-- Midwest: $39,600 ($224,174 in today's dollars)
-- South: $37,300 ($211,154 in today's dollars)
-- West: $40,600 ($229,835 in today's dollars)
1976
- Median sales price: $44,200
- Inflation-adjusted price: $236,554
- Median sales price by region:
-- Northeast: $47,300 ($253,144 in today's dollars)
-- Midwest: $44,800 ($239,765 in today's dollars)
-- South: $40,500 ($216,752 in today's dollars)
-- West: $47,200 ($252,609 in today's dollars)
1977
- Median sales price: $48,800
- Inflation-adjusted price: $245,302
- Median sales price by region:
-- Northeast: $51,600 ($259,377 in today's dollars)
-- Midwest: $51,500 ($258,874 in today's dollars)
-- South: $44,100 ($221,677 in today's dollars)
-- West: $53,500 ($268,928 in today's dollars)
1978
- Median sales price: $55,700
- Inflation-adjusted price: $260,138
- Median sales price by region:
-- Northeast: $58,100 ($271,347 in today's dollars)
-- Midwest: $59,200 ($276,484 in today's dollars)
-- South: $50,300 ($234,918 in today's dollars)
-- West: $61,300 ($286,292 in today's dollars)
1979
- Median sales price: $62,900
- Inflation-adjusted price: $264,051
- Median sales price by region:
-- Northeast: $65,500 ($274,966 in today's dollars)
-- Midwest: $63,900 ($268,249 in today's dollars)
-- South: $57,300 ($240,542 in today's dollars)
-- West: $69,600 ($292,177 in today's dollars)
1980
- Median sales price: $64,600
- Inflation-adjusted price: $238,928
- Median sales price by region:
-- Northeast: $69,500 ($257,051 in today's dollars)
-- Midwest: $63,400 ($234,490 in today's dollars)
-- South: $59,600 ($220,435 in today's dollars)
-- West: $72,300 ($267,407 in today's dollars)
1981
- Median sales price: $68,900
- Inflation-adjusted price: $230,871
- Median sales price by region:
-- Northeast: $76,000 ($254,662 in today's dollars)
-- Midwest: $65,900 ($220,819 in today's dollars)
-- South: $64,400 ($215,793 in today's dollars)
-- West: $77,800 ($260,694 in today's dollars)
1982
- Median sales price: $69,300
- Inflation-adjusted price: $218,741
- Median sales price by region:
-- Northeast: $78,200 ($246,833 in today's dollars)
-- Midwest: $68,900 ($217,478 in today's dollars)
-- South: $66,100 ($208,640 in today's dollars)
-- West: $75,000 ($236,732 in today's dollars)
1983
- Median sales price: $75,300
- Inflation-adjusted price: $230,400
- Median sales price by region:
-- Northeast: $82,200 ($251,512 in today's dollars)
-- Midwest: $79,500 ($243,251 in today's dollars)
-- South: $70,900 ($216,937 in today's dollars)
-- West: $80,100 ($245,087 in today's dollars)
1984
- Median sales price: $79,900
- Inflation-adjusted price: $234,243
- Median sales price by region:
-- Northeast: $88,600 ($259,748 in today's dollars)
-- Midwest: $85,400 ($250,367 in today's dollars)
-- South: $72,000 ($211,082 in today's dollars)
-- West: $87,300 ($255,937 in today's dollars)
1985
- Median sales price: $84,300
- Inflation-adjusted price: $238,720
- Median sales price by region:
-- Northeast: $103,300 ($292,524 in today's dollars)
-- Midwest: $80,300 ($227,393 in today's dollars)
-- South: $75,000 ($212,385 in today's dollars)
-- West: $92,600 ($262,224 in today's dollars)
1986
- Median sales price: $92,000
- Inflation-adjusted price: $255,557
- Median sales price by region:
-- Northeast: $125,000 ($347,224 in today's dollars)
-- Midwest: $88,300 ($245,279 in today's dollars)
-- South: $80,200 ($222,779 in today's dollars)
-- West: $95,700 ($265,835 in today's dollars)
1987
- Median sales price: $104,500
- Inflation-adjusted price: $280,252
- Median sales price by region:
-- Northeast: $140,000 ($375,457 in today's dollars)
-- Midwest: $95,000 ($254,774 in today's dollars)
-- South: $88,000 ($236,001 in today's dollars)
-- West: $111,000 ($297,684 in today's dollars)
1988
- Median sales price: $112,500
- Inflation-adjusted price: $289,823
- Median sales price by region:
-- Northeast: $149,000 ($383,855 in today's dollars)
-- Midwest: $101,600 ($261,743 in today's dollars)
-- South: $92,000 ($237,011 in today's dollars)
-- West: $126,500 ($325,890 in today's dollars)
1989
- Median sales price: $120,000
- Inflation-adjusted price: $295,011
- Median sales price by region:
-- Northeast: $159,600 ($392,364 in today's dollars)
-- Midwest: $108,800 ($267,476 in today's dollars)
-- South: $96,400 ($236,992 in today's dollars)
-- West: $139,000 ($341,721 in today's dollars)
1990
- Median sales price: $122,900
- Inflation-adjusted price: $286,608
- Median sales price by region:
-- Northeast: $159,000 ($370,795 in today's dollars)
-- Midwest: $107,900 ($251,628 in today's dollars)
-- South: $99,000 ($230,872 in today's dollars)
-- West: $147,500 ($343,977 in today's dollars)
1991
- Median sales price: $120,000
- Inflation-adjusted price: $268,525
- Median sales price by region:
-- Northeast: $155,900 ($348,858 in today's dollars)
-- Midwest: $110,000 ($246,148 in today's dollars)
-- South: $100,000 ($223,771 in today's dollars)
-- West: $141,100 ($315,740 in today's dollars)
1992
- Median sales price: $121,500
- Inflation-adjusted price: $263,856
- Median sales price by region:
-- Northeast: $169,000 ($367,009 in today's dollars)
-- Midwest: $115,600 ($251,043 in today's dollars)
-- South: $105,500 ($229,109 in today's dollars)
-- West: $130,400 ($283,184 in today's dollars)
1993
- Median sales price: $126,500
- Inflation-adjusted price: $266,791
- Median sales price by region:
-- Northeast: $162,600 ($342,927 in today's dollars)
-- Midwest: $125,000 ($263,628 in today's dollars)
-- South: $115,000 ($242,538 in today's dollars)
-- West: $135,000 ($284,718 in today's dollars)
1994
- Median sales price: $130,000
- Inflation-adjusted price: $267,236
- Median sales price by region:
-- Northeast: $169,000 ($347,407 in today's dollars)
-- Midwest: $132,900 ($273,198 in today's dollars)
-- South: $116,900 ($240,307 in today's dollars)
-- West: $140,400 ($288,615 in today's dollars)
1995
- Median sales price: $133,900
- Inflation-adjusted price: $267,742
- Median sales price by region:
-- Northeast: $180,000 ($359,922 in today's dollars)
-- Midwest: $134,000 ($267,942 in today's dollars)
-- South: $124,500 ($248,946 in today's dollars)
-- West: $141,000 ($281,939 in today's dollars)
1996
- Median sales price: $140,000
- Inflation-adjusted price: $271,953
- Median sales price by region:
-- Northeast: $186,900 ($363,058 in today's dollars)
-- Midwest: $137,500 ($267,097 in today's dollars)
-- South: $125,000 ($242,815 in today's dollars)
-- West: $153,900 ($298,954 in today's dollars)
1997
- Median sales price: $146,000
- Inflation-adjusted price: $277,130
- Median sales price by region:
-- Northeast: $190,000 ($360,649 in today's dollars)
-- Midwest: $149,900 ($284,533 in today's dollars)
-- South: $129,600 ($246,001 in today's dollars)
-- West: $160,000 ($303,704 in today's dollars)
1998
- Median sales price: $152,500
- Inflation-adjusted price: $285,058
- Median sales price by region:
-- Northeast: $200,000 ($373,847 in today's dollars)
-- Midwest: $157,500 ($294,405 in today's dollars)
-- South: $135,800 ($253,842 in today's dollars)
-- West: $163,500 ($305,620 in today's dollars)
1999
- Median sales price: $161,000
- Inflation-adjusted price: $294,488
- Median sales price by region:
-- Northeast: $210,500 ($385,030 in today's dollars)
-- Midwest: $164,000 ($299,976 in today's dollars)
-- South: $145,900 ($266,869 in today's dollars)
-- West: $173,700 ($317,718 in today's dollars)
2000
- Median sales price: $169,000
- Inflation-adjusted price: $299,053
- Median sales price by region:
-- Northeast: $227,400 ($402,395 in today's dollars)
-- Midwest: $169,700 ($300,292 in today's dollars)
-- South: $148,000 ($261,893 in today's dollars)
-- West: $196,400 ($347,539 in today's dollars)
2001
- Median sales price: $175,200
- Inflation-adjusted price: $301,531
- Median sales price by region:
-- Northeast: $246,400 ($424,072 in today's dollars)
-- Midwest: $172,600 ($297,057 in today's dollars)
-- South: $155,400 ($267,454 in today's dollars)
-- West: $213,600 ($367,620 in today's dollars)
2002
- Median sales price: $187,600
- Inflation-adjusted price: $317,802
- Median sales price by region:
-- Northeast: $264,300 ($447,734 in today's dollars)
-- Midwest: $178,000 ($301,539 in today's dollars)
-- South: $163,400 ($276,806 in today's dollars)
-- West: $238,500 ($404,028 in today's dollars)
2003
- Median sales price: $195,000
- Inflation-adjusted price: $322,917
- Median sales price by region:
-- Northeast: $264,500 ($438,008 in today's dollars)
-- Midwest: $184,300 ($305,198 in today's dollars)
-- South: $168,100 ($278,371 in today's dollars)
-- West: $260,900 ($432,046 in today's dollars)
2004
- Median sales price: $221,000
- Inflation-adjusted price: $356,463
- Median sales price by region:
-- Northeast: $315,800 ($509,372 in today's dollars)
-- Midwest: $205,000 ($330,656 in today's dollars)
-- South: $181,100 ($292,106 in today's dollars)
-- West: $283,100 ($456,628 in today's dollars)
2005
- Median sales price: $240,900
- Inflation-adjusted price: $375,909
- Median sales price by region:
-- Northeast: $343,800 ($536,478 in today's dollars)
-- Midwest: $216,900 ($338,458 in today's dollars)
-- South: $197,300 ($307,874 in today's dollars)
-- West: $332,600 ($519,001 in today's dollars)
2006
- Median sales price: $246,500
- Inflation-adjusted price: $372,640
- Median sales price by region:
-- Northeast: $346,000 ($523,057 in today's dollars)
-- Midwest: $213,500 ($322,754 in today's dollars)
-- South: $208,200 ($314,741 in today's dollars)
-- West: $337,700 ($510,510 in today's dollars)
2007
- Median sales price: $247,900
- Inflation-adjusted price: $364,300
- Median sales price by region:
-- Northeast: $320,200 ($470,547 in today's dollars)
-- Midwest: $208,600 ($306,547 in today's dollars)
-- South: $217,700 ($319,919 in today's dollars)
-- West: $330,900 ($486,272 in today's dollars)
2008
- Median sales price: $232,100
- Inflation-adjusted price: $328,547
- Median sales price by region:
-- Northeast: $343,600 ($486,380 in today's dollars)
-- Midwest: $198,900 ($281,551 in today's dollars)
-- South: $203,700 ($288,345 in today's dollars)
-- West: $294,800 ($417,301 in today's dollars)
2009
- Median sales price: $216,700
- Inflation-adjusted price: $307,733
- Median sales price by region:
-- Northeast: $302,500 ($429,577 in today's dollars)
-- Midwest: $189,200 ($268,681 in today's dollars)
-- South: $194,800 ($276,633 in today's dollars)
-- West: $263,700 ($374,478 in today's dollars)
2010
- Median sales price: $221,800
- Inflation-adjusted price: $309,904
- Median sales price by region:
-- Northeast: $329,900 ($460,944 in today's dollars)
-- Midwest: $197,700 ($276,231 in today's dollars)
-- South: $196,800 ($274,973 in today's dollars)
-- West: $259,300 ($362,300 in today's dollars)
2011
- Median sales price: $227,200
- Inflation-adjusted price: $307,786
- Median sales price by region:
-- Northeast: $322,800 ($437,294 in today's dollars)
-- Midwest: $203,300 ($275,409 in today's dollars)
-- South: $211,400 ($286,382 in today's dollars)
-- West: $256,000 ($346,801 in today's dollars)
2012
- Median sales price: $245,200
- Inflation-adjusted price: $325,423
- Median sales price by region:
-- Northeast: $368,800 ($489,462 in today's dollars)
-- Midwest: $230,600 ($306,047 in today's dollars)
-- South: $227,000 ($301,269 in today's dollars)
-- West: $270,000 ($358,337 in today's dollars)
2013
- Median sales price: $268,900
- Inflation-adjusted price: $351,721
- Median sales price by region:
-- Northeast: $371,200 ($485,530 in today's dollars)
-- Midwest: $255,300 ($333,933 in today's dollars)
-- South: $246,600 ($322,553 in today's dollars)
-- West: $310,500 ($406,134 in today's dollars)
2014
- Median sales price: $288,500
- Inflation-adjusted price: $371,359
- Median sales price by region:
-- Northeast: $398,000 ($512,308 in today's dollars)
-- Midwest: $273,800 ($352,437 in today's dollars)
-- South: $264,000 ($339,822 in today's dollars)
-- West: $339,000 ($436,363 in today's dollars)
2015
- Median sales price: $294,200
- Inflation-adjusted price: $378,238
- Median sales price by region:
-- Northeast: $442,800 ($569,285 in today's dollars)
-- Midwest: $276,700 ($355,739 in today's dollars)
-- South: $271,500 ($349,054 in today's dollars)
-- West: $348,500 ($448,049 in today's dollars)
2016
- Median sales price: $307,800
- Inflation-adjusted price: $390,770
- Median sales price by region:
-- Northeast: $428,300 ($543,752 in today's dollars)
-- Midwest: $277,100 ($351,795 in today's dollars)
-- South: $281,400 ($357,254 in today's dollars)
-- West: $367,700 ($466,817 in today's dollars)
2017
- Median sales price: $323,100
- Inflation-adjusted price: $401,634
- Median sales price by region:
-- Northeast: $490,400 ($609,598 in today's dollars)
-- Midwest: $284,400 ($353,527 in today's dollars)
-- South: $291,200 ($361,980 in today's dollars)
-- West: $390,000 ($484,795 in today's dollars)
2018
- Median sales price: $326,400
- Inflation-adjusted price: $396,076
- Median sales price by region:
-- Northeast: $484,600 ($588,046 in today's dollars)
-- Midwest: $290,900 ($352,998 in today's dollars)
-- South: $294,600 ($357,487 in today's dollars)
-- West: $410,600 ($498,250 in today's dollars)
2019
- Median sales price: $321,500
- Inflation-adjusted price: $383,183
- Median sales price by region:
-- Northeast: $482,500 ($575,072 in today's dollars)
-- Midwest: $289,200 ($344,686 in today's dollars)
-- South: $289,000 ($344,448 in today's dollars)
-- West: $408,000 ($486,279 in today's dollars)
2020
- Median sales price: $336,900
- Inflation-adjusted price: $396,575
- Median sales price by region:
-- Northeast: $470,700 ($554,075 in today's dollars)
-- Midwest: $298,100 ($350,903 in today's dollars)
-- South: $299,000 ($351,962 in today's dollars)
-- West: $412,600 ($485,684 in today's dollars)
2021
- Median sales price: $397,100
- Inflation-adjusted price: $446,530
- Median sales price by region:
-- Northeast: $560,900 ($630,719 in today's dollars)
-- Midwest: $339,900 ($382,210 in today's dollars)
-- South: $355,900 ($400,201 in today's dollars)
-- West: $510,400 ($573,933 in today's dollars)
2022
- Median sales price: $457,800
- Inflation-adjusted price: $476,713
- Median sales price by region:
-- Northeast: $640,200 ($666,648 in today's dollars)
-- Midwest: $405,000 ($421,731 in today's dollars)
-- South: $412,700 ($429,750 in today's dollars)
-- West: $578,800 ($602,712 in today's dollars)
2023
- Median sales price: $428,600
- Inflation-adjusted price: $428,600
- Median sales price by region:
-- Northeast: $760,700 ($760,700 in today's dollars)
-- Midwest: $396,300 ($396,300 in today's dollars)
-- South: $388,800 ($388,800 in today's dollars)
-- West: $536,200 ($536,200 in today's dollars)
