Was Rental Housing More Affordable in 1950 than in 2000?
January 25, 2008 – 6:05 pmThe census bureau releases their data to the public every 10 years. The last census report released was in 2000. I cannot wait to get the update census data in 2010.
Question: Was Rental Housing More Affordable in 1950 than in 2000?
As the graph below shows, it seems that rental housing in 1950 was much more affordable than it was in 2000 in terms of gross rent as it relates to income.
This may be a little misleading because in 1950 - 1970, the census calculated gross income as the income from the primary individuals and families. During this time period, there was usually just one bread winner for the family and the census designated one “householder’s” income as the gross income for the family.
From 1980 - 2000, the census calculated gross income by household income. This means that the gross income for the family could be 1 or more individuals of the household.
So what is the answer to the question, “Was Rental Housing More Affordable in 1950 than in 2000?”
2 Responses to “Was Rental Housing More Affordable in 1950 than in 2000?”
Yes the housing was a lot more affordable in 1950 than now. On my $50.00 per week income I bought my first new house, a two bedroom one bath frame, 1100 sq. ft. in a new subdivision for $ 5500.00 and payments of $54.00 per month. I was 19 years old at the time and had to go to court to be approved as an adult. Even on this income I saved enough to build my second home a two story five bedroom brick for $ 13,000.00. The good old days.
Don Eichler
By Don Eichler on Jan 26, 2008
Yes it was. Incomes were alot lower, but so was the price of houseing and gas and a gallon of milk.
By Chuck Christensen on Jan 26, 2008