The average cost of a new home in the US has increased
3772% from 1930 to 2019. The median monthly mortgage payment for US homeowners was $1492,
including costs from taxes and insurance.
US
Average Cost of New Homes by Year
1930 $3,845
1940
$2,920
1950
$8,450
1960
$12,700
1970
$23,450
1980
$68,700
1990
$123,000
2008
$238,880
2013
$289,500
2019
$379,600
The US
average home mortgage payment is $1,492 and the average monthly rent is $1,350.
34% of homeowners have paid off their mortgages and have no payments other than
their annual property tax.
Single
family homes have appreciated in value over the years. Great Grandma and
Grandpa have money because the house they bought in 1930 for $3,845 is now
worth $379,600 and they paid it off in 1960.
Norb Leahy, Dunwoody
GA Tea Party Leader
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