We spent many hours researching cost of living information for each year and I created this page after being asked a number of times about why I did not include current prices alongside our cost of living information for each year and thought this was the easiest way to make the information available. includes Average Cost Of New Home, Average Wages, New Car cost, Gallon Of Gas and a 1lb Hamburger Meat, 1920 to 2021
We have struggled to find reliable, unbiased figures on the cost of healthcare over the past few years so we do not include that in what we have provided but thought it was important to address the subject with a few observations. Over the past few years, healthcare costs for the average person have seemed to increase significantly, taking up a larger portion of a person's wages than before. What many figures and reports tell us, and what many working people already know, is that employers have been shifting the cost of healthcare to employees by reducing the number of fuller coverage options available for insurance and encouraging employees to use high-deductible plans which end up costing more out of pocket for the individual or family. These changes can significantly contribute to the reasons that wage stagnation has felt particularly hard on the American consumer's wallet in the past few years. There have also been prescription drug price increases as well as decreases with more generic options available, these can also effect the overall cost of healthcare.
The cost of college tuition in most public institutions has also increased dramatically over the past few years, with out-of-state prices increasing a little more than in-state, in general. This has contributed to the fact that more students are leaving college with larger student loans than before. Having large student loans can impact the amount of extra income that many new entrants into the working world have at their disposal as those loans have to be paid back and often have higher interest rates than the current Federal rate. This can make it more difficult for the younger generations to save money, buy homes, and contribute to the economy through spending on higher ticket items like cars and other investment options.