I remember going to the movies for $5.00 while I was in college. Today, a movie ticket costs a minimum of $8.50 and that’s without popcorn. So, if movies cost 75% more than they did during my college days, how much does everything else cost?

Student Loan Hero, an Austin-based platform that helps people manage, refinance, pay off student loan debt, recently released a new study about how much prices have increased. Take a look.

One Gallon of Unleaded Gas

1975 – $0.60

1996 – $1.16

2016 – $1.96

One Pint of Beer

1975 – $1.12

1996 – $2.11

2016 – $3.99

Rent

1960 – $509

1980 – $740

2000 – $857 – +857% since 1960 or +750% when inflation

adjusted

Home

1960 – $90,681

1980 – $143,663

2000 – $170,319 – +905% since 1960 or +73% when inflation

adjusted

Cost of Private College

1987-88 – $15,160

2017-18 – $34,740 – +400% or +129% when inflation adjusted

Cost of Public College

1987-88 – $3,190

2017-18 – $9,970 – +571% or +213% when inflation adjusted

In 1960, the median home value was $11,900, equivalent to $98,000 in today’s dollars, according to Zillow.

In April 2018, the median home value is $210,200, according to Zillow. Adjusting for inflation, this is an increase of 114% in median home value since 1960.

Armed with this data, it makes total sense that young millennials, or anyone else for that matter, have such a tough time saving their dollars for a down payment on a home.

 

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