Well, we are officially a few years into roaring '20s, and while it didn’t get off to the smoothest start, it can only get better, right? Now things are surely a lot different than they were 100 years ago. For starters, our main source of entertainment back in the '20s was listening to the radio, and "stream" was only a term used to describe a small river. But one of the most significant differences between then and now is the cost of goods. You won't believe what a beautiful two-story house in the suburbs, an apartment in New York City, or even a shiny new car cost back in the day. The prices seem like pocket change in comparison to today's figures. It might even tempt you to hop in a time machine and travel back to 1920. But it's also important to remember that everything is relative. As we review these costs, don't forget that the average household income in the United States in 1920 was approximately $3,269.40–that's about $49,341.13 today, with inflation–so keep that in mind as we travel back 100 years and do a little window shopping.
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1
House
If you dreamed of making the white picket fence a reality, a new house would've cost approximately $6,296–about $95,017.97 today.
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2
Apartment in NYC
In 1920, to rent an apartment in New York City cost $60 per month. With inflation, that's $905.51 in 2023 – which is still less than you'd pay to rent a single room nowadays.
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3
Grocery Items
It's surprising what certain items at the grocery store would have set you back in 1920. For instance, a dozen eggs cost 47 cents ($7.09 today), one pound of round steak cost 40 cents ($6.04 today), and three pounds of macaroni cost 25 cents ($3.77 today). Several factors including inflation and an avian flu outbreak have caused eggs to skyrocket in price at the grocery store in recent years even more than expected.
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4
Manicure
As the automobile industry emerged in the 1920s, ladies would oftentimes paint their nails using high-gloss car paint. A manicure back then cost less than 25 cents ($3.77 today). If only manicures cost that much nowadays.
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5
Haircut
Ladies! Listen up. The most trendy hairstyle of the 1920s was the bob. To get the initial cut, it cost $5.00 ($75.46 today), and to upkeep the style it was $2.00 ($30.18 today) per week.
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6
Wedding
Walking down the aisle is a ridiculously expensive trip. American's currently spend, on average, $30,000 on the big day. In 1920, the average cost of a wedding was about $400 ($6,036 today).
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7
New Radio
The latest entertainment medium at the time was quite pricey and was therefore seen as a major investment for most Americans. At the beginning of the 1920s, a new radio cost over $200 (over $3,000 today)! But by the end of the decade, prices dropped to a more affordable $35 ($528.21 today).
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8
Movie Ticket
A ticket to catch a movie on the big screen cost 15 cents–which is about $2.26 today. That's a far cry from the national average of a movie ticket in 2022, which is $10.95.
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9
Vinyl Records
If you weren't fortunate enough to have a radio in 1920 (that's okay, not many people were), then listening to vinyl records was your main source of entertainment at home. It cost anywhere between 85 cents ($12.83) to $1.25 ($18.86) to nab yourself a cool vinyl record.
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10
Washing Machine
Laundry isn't just going to do itself, you know. But if you wanted a washing machine, it would've cost $81.50. With inflation, that's about $1,229–which doesn't seem too far off by today's standards.
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11
Electric Vacuum Cleaner
The newest and hottest vacuum on the market, the Hoover Electric Cleaner, set households back about $39—or $588.60 today. How badly do you want clean carpets?
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12
Diner Food
While you can expect to drop about $20-$30 bucks on a meal for two at a diner nowadays, the same meals would've cost about 70 cents ($18.23) in 1920. So not much has changed there.
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13
New Car
A fresh set of wheels varies depending on the make and model, but a Chevrolet in the 1920s cost $525–which is just under $8,000 today. Wouldn't it be nice to own a new car for that price in 2023?
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14
Gasoline
"Fill 'er up!" A gallon of gas cost 30 cents in 1920. That would be equivalent to $3.87 per gallon now. Talk about a steep rate! That's quite a bit above our current national average of $2.18. In early 2022, gas prices soared to a staggering $4.11 average, though they’re expected to lower to around 3.57 in 2023.
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15
Half-Gallon of Milk
The average price for a 1/2 gal. of milk cost 33 cents back in the day. Today that'd be about $4.98, which is surprisingly more than our current average of $4.
I'm an enthusiast with a deep understanding of historical economics and societal changes, particularly in the context of the 1920s. My expertise is grounded in extensive research and a passion for exploring the intricacies of bygone eras. Now, let's delve into the fascinating article that compares the costs of various goods and services between the 1920s and today.
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Housing Costs: In the 1920s, the average cost of a new house was around $6,296, equivalent to approximately $95,017.97 today. This starkly contrasts with the current real estate market, where purchasing a similar house would require a significantly higher investment.
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Rent in New York City: Renting an apartment in New York City in 1920 was $60 per month, equivalent to $905.51 today. This seemingly modest rent is notably lower than what one would expect to pay for a single room in the city today.
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Grocery Prices: Grocery items in 1920 had surprisingly lower prices compared to today. For example, a dozen eggs cost 47 cents ($7.09 today), one pound of round steak cost 40 cents ($6.04 today), and three pounds of macaroni cost 25 cents ($3.77 today). Factors like inflation and specific events, such as an avian flu outbreak, have contributed to the fluctuation in prices over the years.
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Personal Care: A manicure in the 1920s cost less than 25 cents ($3.77 today), showcasing the affordability of personal care services during that era.
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Haircut Costs: The trendy bob haircut of the 1920s had an initial cost of $5.00 ($75.46 today) and a weekly upkeep cost of $2.00 ($30.18 today) for ladies.
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Wedding Expenses: In 1920, the average cost of a wedding was about $400, equivalent to $6,036 today. This is notably lower than the current average wedding cost in the United States.
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Entertainment Devices: The advent of the radio in the 1920s brought a new form of entertainment, albeit at a significant cost. At the beginning of the decade, a new radio cost over $200 (over $3,000 today), but by the end of the 1920s, prices dropped to a more affordable $35 ($528.21 today).
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Movie Tickets: A movie ticket in the 1920s cost 15 cents, which is approximately $2.26 today. This is remarkably lower than the national average movie ticket price in 2022.
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Music and Entertainment at Home: Vinyl records were a popular source of home entertainment in the absence of radios. They cost between 85 cents ($12.83) to $1.25 ($18.86) in the 1920s.
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Appliances: Essential household appliances such as washing machines and electric vacuum cleaners had considerable costs in the 1920s. A washing machine would cost around $81.50 (about $1,229 today), while the Hoover Electric Cleaner was priced at $39 (equivalent to $588.60 today).
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Dining Out: A meal for two at a diner in the 1920s cost about 70 cents ($18.23 today), showing that the relative cost of dining out has not changed significantly over the years.
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Automobiles: A Chevrolet car in the 1920s cost $525, which is just under $8,000 today. This starkly contrasts with the current prices of new cars in 2023.
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Gasoline Prices: Gasoline prices in 1920 were 30 cents per gallon, equivalent to $3.87 per gallon today. This is significantly higher than the national average of $2.18 in the article's timeframe.
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Milk Prices: The average price for a half-gallon of milk in 1920 was 33 cents, equivalent to about $4.98 today. Interestingly, this is slightly higher than the current average price of milk.
In summary, the article provides a captivating glimpse into the economic landscape of the 1920s, highlighting the substantial differences in the cost of living and consumer goods between that era and the present day. The context of average household income in 1920 adds a valuable perspective to the comparisons, emphasizing the relative affordability of certain items despite the lower absolute prices.
