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What Kind Of Home You Could Afford To Buy With $75,000 Or Less Throughout The 20th Century
Although the real estate market has its ups and downs, home prices have generally increased significantly over the past century in the United States. In the early 1900s, you could buy a home out of a Sears catalog. In the 21st century, though, many millennials struggle to own property because of the exorbitant cost.
Although older houses may store some pretty shocking secrets, it's fun to look back and see what kind of home you could have purchased if you were born during an earlier stage of American capitalism.
In The Early 1900s, You Could Buy A Farm Home In New York For $25,000
According to New York state farm listings from 1909, you could purchase a farm home, a barn, and land for anywhere from $600 ($15,000 adjusted for inflation) to $5,000 ($120,000 adjusted for inflation).
A mid-range, modest farm would cost you around $1,000 ($25,000 adjusted for inflation).
In 1916, You Could Buy A Two-Story Home For $20,000
In a book of building plans for modern homes, the "economy" option is a two-story house, which you could build for $851.41 ($20,000 adjusted for inflation).
With three bedrooms, a dining room, attic, porch, and parlor room, it's a pretty sweet deal.
In 1920, You Could Buy A Modest Home In A Large City For $50,000
In a study exploring the cost of living in major cities during 1920, $4,000 ($50,000 adjusted for inflation) could buy you a small home in or near a major city such as New York, Boston, or Baltimore.
A family with an income of $2,228 would likely be able to pay off the home in 20 installments.
In 1918, You Could Buy A Home From A Sears Roebuck Catalog For $21,000
In the late 1910s, the Somerset house model cost around $1,294 ($21,500 adjusted for inflation), and you could buy everything you needed to build it from a Sears Roebuck catalog.
In 1918, the average household made $1,518 ($25,000 adjusted for inflation).
In 1930, You Could Buy A Home On Farmland In Massachusetts For $36,000
In Massachusetts around 1930, you could buy a mid-range home for $2,405 ($36,000 adjusted for inflation).
This bungalow from Arlington Heights is a two-floor Colonial built in 1928.
In 1940, You Could Buy A Colonial Revival In Maine For $36,000
Around 1940, the median home price in Maine was $2,008 ($36,000 adjusted for inflation).
Although this home likely costs more than that, the state was a relatively inexpensive area for real estate.
