1952 mortgage of $45 a month equals $520 today - a far cry from current SF home prices
-
A 1952 mortgage statement from Pennsylvania showed the monthly payment was just $45.29. Adjusted for inflation, that equals about $520 today.
-
The median home price today in San Francisco is $1.5 million. The annual income needed to afford that mortgage is over $400,000.
-
In the 1950s, the average family income was around $3,300 per year, much lower than today.
-
Despite the lower mortgage payments in the 1950s, incomes were also much lower at that time compared to today.
-
The extremely low 1952 mortgage payment has sparked discussion on Reddit, with some lamenting home ownership is now unattainable for many.