Median home values adjusted for inflation nearly quadrupled over the 60-year period since the first housing census in 1940. The median value of single-family homes in the United States rose from $30,600 in 1940 to $119,600 in 2000, after adjusting for inflation (see graph). Median home value increased in each decade of this 60-year period, rising fastest (43 percent) in the 1970s and slowest (8.2 percent) in the 1980s. Both home values adjusted and unadjusted for inflation are presented. These values refer to owner-occupied single-family housing units on less than 10 acres without a business or medical office on the property.
Among states, the District of Columbia (treated as a state in these tabulations) had the highest median home value from 1940 to 1950. In 1960, Hawaii became the leader and has remained there through 2000 (Hawaii became a state in 1959). Over this 60-year period, the lowest median home values were generally found in southern states, such as Arkansas, Mississippi, and Oklahoma. However, these states were joined by a couple of western states in earlier decades and Midwestern states in later decades. For example: New Mexico, Arkansas, Mississippi, Oklahoma, and Arizona had the lowest median home values in 1940. In 2000, the southern states remained at the bottom, but were joined by North Dakota and South Dakota, in the Midwest. Home values for those western states had increased considerably. For example, Arizona’s median home value increased from well below the national median in 1940 to above it by 1980 and remained above the national level in 2000.
Median Home Values:
2000 1990 1980 1970 1960 1950 1940
Adjusted to 2000 dollars
United States $119,600 $101,100 $93,400 $65,300 $58,600 $44,600 $30,600
Alabama $85,100 $68,600 $67,100 $46,900 $42,400 $27,100 $16,800
Alaska $144,200 $120,600 $151,000 $87,200 $44,800 $21,100 NA
Arizona $121,300 $102,300 $108,500 $62,600 $54,700 $36,000 $14,600
Arkansas $72,800 $59,200 $61,600 $40,300 $33,000 $24,800 $11,400
California $211,500 $249,800 $167,300 $88,700 $74,400 $57,900 $36,700
Colorado $166,600 $105,700 $126,900 $66,400 $60,600 $43,300 $21,800
Connecticut $166,900 $227,200 $129,900 $97,900 $82,300 $71,900 $48,000
Delaware $130,400 $127,900 $87,900 $65,700 $61,100 $55,000 $43,300
Dist. of Columbia $157,200 $158,300 $136,200 $81,800 $75,900 $87,800 $78,800
Florida $105,500 $98,500 $89,300 $57,600 $58,100 $40,100 $23,100
Georgia $111,200 $91,100 $73,000 $56,100 $46,800 $31,700 $20,400
Hawaii $272,700 $313,400 $233,800 $134,800 $103,000 $74,400 NA
Idaho $106,300 $74,400 $90,300 $54,200 $52,200 $35,500 $16,700
Illinois $130,800 $103,400 $104,500 $76,000 $72,400 $52,400 $34,100
Indiana $94,300 $68,900 $73,600 $53,000 $50,300 $37,700 $25,000
Iowa $82,500 $58,600 $80,400 $53,400 $48,800 $38,300 $23,400
Kansas $83,500 $66,700 $74,800 $46,500 $45,800 $33,100 $18,000
Kentucky $86,700 $64,500 $67,700 $48,400 $43,400 $32,000 $21,600
Louisiana $85,000 $74,700 $85,100 $56,100 $52,700 $31,100 $14,700
Maine $98,700 $111,700 $75,000 $49,200 $43,400 $29,400 $20,900
Maryland $146,000 $148,800 $115,400 $71,800 $58,600 $48,700 $31,500
Massachusetts $185,700 $208,000 $95,800 $79,100 $68,000 $55,400 $39,900
Michigan $115,600 $77,400 $77,200 $67,200 $59,100 $45,400 $29,800
Minnesota $122,400 $94,500 $105,100 $69,100 $63,100 $47,300 $31,500
Mississippi $71,400 $58,300 $62,200 $43,000 $38,900 $25,200 $12,400
Missouri $89,900 $76,400 $72,600 $55,300 $53,700 $38,800 $24,900
Montana $99,500 $72,300 $92,000 $53,800 $53,700 $35,100 $17,200
Nebraska $88,000 $64,400 $75,200 $47,600 $46,300 $35,900 $22,400
Nevada $142,000 $122,300 $136,000 $86,000 $74,900 $53,700 $20,700
New Hampshire $133,300 $165,300 $95,000 $63,000 $52,700 $37,600 $26,100
New Jersey $170,800 $207,400 $119,200 $89,900 $76,900 $63,100 $47,100
New Mexico $108,100 $89,600 $89,700 $49,900 $52,700 $34,500 $6,800
New York $148,700 $168,100 $90,300 $86,400 $75,400 $61,500 $45,700
North Carolina $108,300 $84,100 $71,300 $49,200 $39,400 $29,700 $18,800
North Dakota $74,400 $64,900 $86,900 $49,900 $48,300 $32,700 $16,900
Ohio $103,700 $81,100 $88,900 $67,600 $66,000 $50,300 $35,500
Oklahoma $70,700 $61,500 $70,500 $42,600 $38,900 $31,700 $13,500
Oregon $152,100 $85,700 $112,600 $59,100 $51,700 $41,500 $24,400
Pennsylvania $97,000 $89,100 $77,400 $52,200 $50,300 $42,400 $33,400
Rhode Island $133,000 $170,600 $92,600 $69,900 $60,600 $59,200 $40,000
South Carolina $94,900 $78,100 $69,500 $49,900 $37,000 $31,000 $22,300
South Dakota $79,600 $57,700 $72,400 $43,800 $43,400 $32,800 $16,800
Tennessee $93,000 $74,600 $70,500 $48,000 $40,900 $31,900 $19,000
Texas $82,500 $76,100 $77,400 $46,100 $43,400 $35,200 $17,600
Utah $146,100 $88,000 $113,400 $64,500 $62,100 $44,900 $24,100
Vermont $111,500 $122,000 $83,500 $63,000 $47,800 $38,000 $29,500
Virginia $125,400 $116,300 $95,000 $65,700 $53,200 $39,900 $27,400
Washington $168,300 $119,300 $118,600 $71,100 $57,700 $43,400 $24,500
West Virginia $72,800 $61,200 $76,200 $43,400 $37,400 $33,200 $24,500
Wisconsin $112,200 $79,900 $96,200 $66,400 $62,100 $48,000 $33,600
Wyoming $96,600 $78,700 $118,400 $58,800 $60,600 $41,300 $22,600
Note: To adjust for inflation, the 1940 to 1990 median home values were adjusted to 2000
dollars using the appropriate CPI-U-RS adjustment factor.
Year: 1940 1950 1960 1970 1980 1990
Adjustment factor: 10.406639 6.057971 4.927308 3.840735 1.979479 1.277636
2000 1990 1980 1970 1960 1950 1940
United States $119,600 $79,100 $47,200 $17,000 $11,900 $7,354 $2,938
Alabama $85,100 $53,700 $33,900 $12,200 $8,600 $4,473 $1,610
Alaska $144,200 $94,400 $76,300 $22,700 $9,100 $3,477 NA
Arizona $121,300 $80,100 $54,800 $16,300 $11,100 $5,935 $1,400
Arkansas $72,800 $46,300 $31,100 $10,500 $6,700 $4,087 $1,100
California $211,500 $195,500 $84,500 $23,100 $15,100 $9,564 $3,527
Colorado $166,600 $82,700 $64,100 $17,300 $12,300 $7,151 $2,091
Connecticut $166,900 $177,800 $65,600 $25,500 $16,700 $11,862 $4,615
Delaware $130,400 $100,100 $44,400 $17,100 $12,400 $9,079 $4,159
Dist. of Columbia $157,200 $123,900 $68,800 $21,300 $15,400 $14,498 $7,568
Florida $105,500 $77,100 $45,100 $15,000 $11,800 $6,612 $2,218
Georgia $111,200 $71,300 $36,900 $14,600 $9,500 $5,235 $1,957
Hawaii $272,700 $245,300 $118,100 $35,100 $20,900 $12,283 NA
Idaho $106,300 $58,200 $45,600 $14,100 $10,600 $5,852 $1,600
Illinois $130,800 $80,900 $52,800 $19,800 $14,700 $8,646 $3,277
Indiana $94,300 $53,900 $37,200 $13,800 $10,200 $6,226 $2,406
Iowa $82,500 $45,900 $40,600 $13,900 $9,900 $6,320 $2,253
Kansas $83,500 $52,200 $37,800 $12,100 $9,300 $5,462 $1,733
Kentucky $86,700 $50,500 $34,200 $12,600 $8,800 $5,283 $2,074
Louisiana $85,000 $58,500 $43,000 $14,600 $10,700 $5,141 $1,414
Maine $98,700 $87,400 $37,900 $12,800 $8,800 $4,856 $2,008
Maryland $146,000 $116,500 $58,300 $18,700 $11,900 $8,033 $3,031
Massachusetts $185,700 $162,800 $48,400 $20,600 $13,800 $9,144 $3,837
Michigan $115,600 $60,600 $39,000 $17,500 $12,000 $7,496 $2,863
Minnesota $122,400 $74,000 $53,100 $18,000 $12,800 $7,806 $3,024
Mississippi $71,400 $45,600 $31,400 $11,200 $7,900 $4,159 $1,189
Missouri $89,900 $59,800 $36,700 $14,400 $10,900 $6,399 $2,392
Montana $99,500 $56,600 $46,500 $14,000 $10,900 $5,797 $1,651
Nebraska $88,000 $50,400 $38,000 $12,400 $9,400 $5,918 $2,156
Nevada $142,000 $95,700 $68,700 $22,400 $15,200 $8,859 $1,987
New Hampshire $133,300 $129,400 $48,000 $16,400 $10,700 $6,199 $2,505
New Jersey $170,800 $162,300 $60,200 $23,400 $15,600 $10,408 $4,528
New Mexico $108,100 $70,100 $45,300 $13,000 $10,700 $5,697 $656
New York $148,700 $131,600 $45,600 $22,500 $15,300 $10,152 $4,389
North Carolina $108,300 $65,800 $36,000 $12,800 $8,000 $4,901 $1,802
North Dakota $74,400 $50,800 $43,900 $13,000 $9,800 $5,396 $1,626
Ohio $103,700 $63,500 $44,900 $17,600 $13,400 $8,304 $3,415
Oklahoma $70,700 $48,100 $35,600 $11,100 $7,900 $5,228 $1,293
Oregon $152,100 $67,100 $56,900 $15,400 $10,500 $6,846 $2,343
Pennsylvania $97,000 $69,700 $39,100 $13,600 $10,200 $6,992 $3,205
Rhode Island $133,000 $133,500 $46,800 $18,200 $12,300 $9,767 $3,848
South Carolina $94,900 $61,100 $35,100 $13,000 $7,500 $5,112 $2,145
South Dakota $79,600 $45,200 $36,600 $11,400 $8,800 $5,410 $1,618
Tennessee $93,000 $58,400 $35,600 $12,500 $8,300 $5,268 $1,826
Texas $82,500 $59,600 $39,100 $12,000 $8,800 $5,805 $1,693
Utah $146,100 $68,900 $57,300 $16,800 $12,600 $7,409 $2,320
Vermont $111,500 $95,500 $42,200 $16,400 $9,700 $6,277 $2,836
Virginia $125,400 $91,000 $48,000 $17,100 $10,800 $6,581 $2,633
Washington $168,300 $93,400 $59,900 $18,500 $11,700 $7,169 $2,359
West Virginia $72,800 $47,900 $38,500 $11,300 $7,600 $5,473 $2,350
Wisconsin $112,200 $62,500 $48,600 $17,300 $12,600 $7,927 $3,232
Wyoming $96,600 $61,600 $59,800 $15,300 $12,300 $6,811 $2,174
NA: Not Available
Source: U.S. Census Bureau