In 1937, the median American household income was $723, the average, according to the Social Security Administration, was $890. That's with, usually, only the husband working. The inflation factor to convert that to 2025 dollars is 22.28.
In the first quarter of 2025, the median household income was $80,610, the average $82,373. That's with, almost always, both husband and wife working.
The houses pictured here, from a 1937 issue of Life, cost between $3,000 (upper left) and $6,000 (the two next to the bottom; the bottom house is $4,000), so between $66,840 and $133,680 in inflated dollars. In the first quarter of 2025, the average house price was $503,800.
So in 1937, if we take the average house price to be around $4,500, a house cost something like five or six times a typical family's annual income. And in 2025, a house costs roughly six times a typical family's annual income.
What kind of amenities did houses in 1937 have? Take a look:
Of course, a lot has changed in the country since 1937, much of it, maybe most of it, not for the better. For example, in 1937, the average house price in the Richmond district of San Francisco was around $3,500. Today it is over $1.8 million. So back then an ordinary working stiff could buy a home in a lovely part of the country, ride a trolley bus downtown or to the wharves to a job that paid him enough to own that house and support his family. His wife could shop at the local corner store and volunteer with the PTA and the library. His kids could walk to safe, disciplined schools that actually taught math and science, history and literature. On his days off he could take his family to Golden Gate Park or other safe and enjoyable parts of the city. Without owning a car. Today? He couldn't afford a house within two hours of San Francisco, and that would be with his wife working. The schools he can afford for his kids are pointless, violent child warehouses. He needs a car, and so does his wife, not only to get to work, but also just to get groceries. And crime....
Now you may say that there are still plenty of affordable housing areas in the country, and no doubt there are. But are they in delightful areas by the ocean or a lake with lovely mountain views? Are they crime free with excellent schools? Are they close to cultural amenities like world-class museums, concert halls, theaters? Are there plentiful, well-paying jobs within a short bus-ride (a safe, clean bus ride)? Are there corner stores and shops within walking distance of home the wife can visit daily for fresh foods for her family?
Are they? Are there?