For example, in 1940, the average family income was around $3,200. This means that the median-priced home was worth about 1.6 times the average family income. In comparison, the median price for a new single-family home today is around $400,000, while the average family income is around $65,000. This means that the median-priced home today is worth about 6 times the average family income.
In addition, the cost of construction was also much lower in the 1940s than it is today. This is due to a number of factors, including lower labor costs, cheaper materials, and more efficient building techniques. As a result, homes could be built for much less in the 1940s than they can today.
All of these factors contributed to make homes much more affordable in the 1940s than they are today. As such, it was much easier for people to buy a home in the 1940s than it is today.