Prices for Housing, 1967-2023 ($100,000)
According to the U.S. Bureau of Labor Statistics, prices for housing are 938.42% higher in 2023 versus 1967 (a $938,423.06 difference in value).
Between 1967 and 2023: Housing experienced an average inflation rate of 4.27% per year. This rate of change indicates significant inflation. In other words, housing costing $100,000 in the year 1967 would cost $1,038,423.06 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 4.03% during this same period, inflation for housing was higher.
Price Inflation for Housing since 1967
Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (15.70%), 1979 (12.17%), and 1981 (11.48%).
View price changes for other categories
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Buying power of $100,000.00 since 1967
Below are calculations of equivalent buying power for Housing, over time, for $100,000 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1967 | $100,000.00 | - |
| 1968 | $104,047.98 | 4.05% |
| 1969 | $110,444.78 | 6.15% |
| 1970 | $118,240.88 | 7.06% |
| 1971 | $123,388.31 | 4.35% |
| 1972 | $128,210.89 | 3.91% |
| 1973 | $133,708.15 | 4.29% |
| 1974 | $148,800.60 | 11.29% |
| 1975 | $164,492.75 | 10.55% |
| 1976 | $174,637.68 | 6.17% |
| 1977 | $186,531.73 | 6.81% |
| 1978 | $202,898.55 | 8.77% |
| 1979 | $227,586.21 | 12.17% |
| 1980 | $263,318.34 | 15.70% |
| 1981 | $293,553.22 | 11.48% |
| 1982 | $314,742.63 | 7.22% |
| 1983 | $323,163.42 | 2.68% |
| 1984 | $336,581.71 | 4.15% |
| 1985 | $349,950.02 | 3.97% |
| 1986 | $360,294.85 | 2.96% |
| 1987 | $371,014.49 | 2.98% |
| 1988 | $384,907.55 | 3.74% |
| 1989 | $399,575.21 | 3.81% |
| 1990 | $417,516.24 | 4.49% |
| 1991 | $434,008.00 | 3.95% |
| 1992 | $446,676.66 | 2.92% |
| 1993 | $458,720.64 | 2.70% |
| 1994 | $470,289.86 | 2.52% |
| 1995 | $482,233.88 | 2.54% |
| 1996 | $496,301.85 | 2.92% |
| 1997 | $509,270.36 | 2.61% |
| 1998 | $520,914.54 | 2.29% |
| 1999 | $532,358.82 | 2.20% |
| 2000 | $550,774.61 | 3.46% |
| 2001 | $572,888.56 | 4.02% |
| 2002 | $585,582.21 | 2.22% |
| 2003 | $600,249.88 | 2.50% |
| 2004 | $615,667.17 | 2.57% |
| 2005 | $635,782.11 | 3.27% |
| 2006 | $659,945.03 | 3.80% |
| 2007 | $680,814.59 | 3.16% |
| 2008 | $702,505.75 | 3.19% |
| 2009 | $705,082.46 | 0.37% |
| 2010 | $702,480.76 | -0.37% |
| 2011 | $711,724.39 | 1.32% |
| 2012 | $723,462.77 | 1.65% |
| 2013 | $738,521.99 | 2.08% |
| 2014 | $757,570.96 | 2.58% |
| 2015 | $773,309.35 | 2.08% |
| 2016 | $792,514.49 | 2.48% |
| 2017 | $816,086.21 | 2.97% |
| 2018 | $839,634.18 | 2.89% |
| 2019 | $863,910.54 | 2.89% |
| 2020 | $882,820.59 | 2.19% |
| 2021 | $911,884.31 | 3.29% |
| 2022 | $977,121.94 | 7.15% |
| 2023 | $1,038,423.06 | 6.27%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Housing:
| Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| CPI | 30.785 | 32.031 | 34.000 | 36.400 | 37.985 | 39.469 | 41.162 | 45.808 | 50.638 | 53.762 | 57.423 | 62.462 | 70.062 | 81.062 | 90.369 | 96.892 | 99.485 | 103.615 | 107.731 | 110.915 | 114.215 | 118.492 | 123.008 | 128.531 | 133.608 | 137.508 | 141.215 | 144.777 | 148.454 | 152.785 | 156.777 | 160.362 | 163.885 | 169.554 | 176.362 | 180.269 | 184.785 | 189.531 | 195.723 | 203.162 | 209.586 | 216.264 | 217.057 | 216.256 | 219.102 | 222.715 | 227.351 | 233.215 | 238.060 | 243.973 | 251.229 | 258.478 | 265.952 | 271.773 | 280.720 | 300.803 | 319.675 |
Adjust housing prices for inflation
Start with the inflation rate formula:
CPI in 2023 / CPI in 1967 * 1967 USD value = 2023 USD value
Then plug in historical CPI values from above. The CPI for Housing was 30.785 in the year 1967 and 319.675 in 2023:
319.675 / 30.785 * $100,000 = $1,038,423.06
Therefore, according to U.S. Bureau of Labor Statistics, $100,000 in 1967 has the same "purchasing power" as $1,038,423.06 in 2023 (in the CPI category of Housing).
Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Housing in 1967. In addition to housing, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.
As a seasoned expert in economic trends and data analysis, I find it imperative to delve into the compelling insights provided by the U.S. Bureau of Labor Statistics regarding housing prices from 1967 to 2023. The meticulous examination of the evidence unveils a profound understanding of the subject matter and enables us to draw insightful conclusions about the dynamics of housing costs over the years.
The data reveals that housing prices have surged by a staggering 938.42% between 1967 and 2023, reflecting a substantial difference in value amounting to $938,423.06. This stark increase underscores the significant impact of inflation on the housing market over the past six decades. The average inflation rate of 4.27% per year during this period is a testament to the persistent upward trend in housing costs, outpacing the overall inflation rate of 4.03%.
The breakdown of the inflation rates for specific years further illuminates the volatility of housing prices. The years 1980, 1979, and 1981 stand out with inflation rates of 15.70%, 12.17%, and 11.48%, respectively. These years experienced the most substantial changes in housing prices, indicating periods of pronounced economic shifts.
To contextualize the impact on purchasing power, a meticulous analysis of the equivalent buying power for $100,000 since 1967 has been conducted. The detailed calculations showcase the gradual erosion of purchasing power over time. For instance, a home that cost $100,000 in 1967 would require an expenditure of $1,038,423.06 in 2023 to maintain an equivalent standard of living.
The Consumer Price Index (CPI) data, meticulously documented by the U.S. Bureau of Labor Statistics, serves as the foundation for these calculations. The CPI for Housing, starting at 30.785 in 1967 and reaching 319.675 in 2023, provides a comprehensive overview of the inflationary pressures on housing costs.
The methodology employed to adjust housing prices for inflation, using the formula CPI in 2023 / CPI in 1967 * 1967 USD value, yields a conclusive result. The calculation demonstrates that $100,000 in 1967 possesses the same "purchasing power" as $1,038,423.06 in 2023 within the CPI category of Housing.
In conclusion, this meticulous analysis, rooted in the extensive data provided by the U.S. Bureau of Labor Statistics, underscores the multifaceted nature of housing price dynamics. It not only highlights the substantial increase in housing costs over the years but also provides a nuanced understanding of the inflationary forces shaping the real estate market. This knowledge is invaluable for individuals, policymakers, and investors seeking to navigate the complexities of the housing landscape.
Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Housing in 1967. In addition to housing, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.
