The United States experienced a period of relative stability in terms of prices and the cost of living in the 50s. This was a time when many American families were enjoying the post-World War II economic boom.
If you’re wondering how much did things cost in the 1950s, I listed below the cost of different items during that era, including milk, bread, cars, and homes. This will help give you a better picture of the cost of living in 50s.
Housing affordability in the late 1950s was notably different from today. A two-bedroom home was available for under $7,500, which is considerably less than current real estate prices. This affordability had a significant impact on families in the 50s and their ability to become home owners during that period.
The impact of inflation becomes apparent when we compare the value of a dollar. For instance, $1 in 1950 is equivalent to about $12.68 today, illustrating the decline in purchasing power over time.
Additionally, the prices of cultural and historical items from that era, such as vinyl records and classic toys, provide insights into the consumer preferences and popular culture of the time.
I hope you find this a valuable historical perspective on economic conditions, housing affordability, and the impact of inflation in the United States, shedding light on how economic circumstances have evolved over the decades.
Prices in 1950
$1 in 1950 is worth $12.68 today if you factor in inflation.
- House: $7,150
- Average income: $3,216
- Ford car: $1339-$2262
- Philco model 1403 TV: $199
- Admiral “home entertainment” TV system: $549.50
- 12″ records: $4.85
- 10″ records: $2.85
- Milk: $.82
- Gas: $.20
- Bread $.14
- Postage stamp: $.03
- Pumpkins : $.02 cents a lb
- Campbell’s Pork & Beans – (2) 1 lb. cans: $.25
- Sirloin steak: $.77 lb
- Kraft Mayonnaise – quart jar: $.62.
Prices in 1951
$1 in 1951 is worth $11.76 today if you factor in inflation.
- House: $7,300
- Average income: $3,515
- Ford car: $1424-$2253
- 8.3 cu. ft. General Electric refrigerator: $330
- Milk: $.92
- Gas: $.20
- Bread $.16
- Postage stamp: $.03
- 1 lb. of buttered peanut brittle: $.25
- 14 oz. can of Hershey’s Syrup: $.17
- Sliced Bacon: $.63 per lb
- Coca Cola, 6 bottles: $.37
- Canada Dry Ginger Ale, (2) 28 oz btls: $.39
- Post Sugar Crisp, 6 oz pkg: $.15
- Jerry Mahoney Ventriloquist dummy: $14.95
Prices in 1952
$1 in 1952 is worth $11.54 today if you factor in inflation.
- House: $7,750
- Average income: $3,515
- Ford car: $1,526-$2,384
- Milk: $.96
- Gas: $.20
- Bread $.16
- Postage stamp: $.03
- Hen Turkeys: $ .53 lb
- Pkg of 6 Bran muffins $.21
- 1 lb pkg of M&M’s candies: $.59
- Gillette Blue Blades, pkg of 10: $ .49
- Ladies Corduroy Jackets: $4.99
- Cotton knit blouses: $1.98
- Men’s Rayon Sport Shirts: $3.66
- Men’s cotton flannel shirt: $1.79
- Red “Radio Flyer” wagon: $8.75
- Westinghouse Open-Handle steam iron: $19.95
- Men’s T-shirts and briefs – – –
- T-shirts, 2 for $.59
- Briefs, each $.59
Prices in 1953
$1 in 1953 is worth $11.45 today if you factor in inflation.
- House: $8,200
- Average income: $4,011
- Ford car: $1537-$2403
- Milk: $.94
- Gas: $.22
- Bread $.16
- Postage stamp: $.03
- 10- lb bag C&H sugar: $ .89
- 12 oz. jar of Libby’s pickles $.25
- 16 oz. jar Kraft Cheese Whiz : $.57
- Romaine Lettuce: $ .10 lb
Prices in 1954
$1 in 1954 is worth $11.36 today if you factor in inflation.
- House: $8,650
- Average income: $3,960
- Ford car: $1548-$2415
- Milk: $.92
- Gas: $.21
- Bread $.17
- Postage stamp: $.03
- Swiss Cheese: $ .69 lb.
- American Cheese: $.55 lb.
- T-Bone steak : $.95 lb.
- Del Monte Catsup (2) 14.oz bottles: $.25
- Post Grape Nuts cereal – 10 .oz pkg: $.19
- Clorox Bleach – 1/2 gal: $.19
- 20 gallon gas water heater $75.
- Semi-automatic Kenmore washer: $154.95
Prices in 1955
$1 in 1955 is worth $11.41 today if you factor in inflation.
- House: $9,100
- Average income: $4,137
- Ford car: $1606-$2944
- Milk: $.92
- Gas: $.23
- Bread $.18
- Postage stamp: $.03
- Sirloin chops: $ .69 lb.
- Pot Roast: $0.43 lb.
- Eggs, doz.: $0.61
- Coffee: $0.93 lb.
- Milk, ½ gal. $0.43
- Potatoes, 10 lb. bag: $0.53
- Starkist Tuna, 6 ½ oz. can: $0.25 lb.
- Oreo cookies, 11¾ .oz pkg: $0.39
- Potato Salad, pint: $0.29
- Cracker Jack, 24 pac: $1.49
- Apple cider,½ gal.: $0.49
- Gum Drops, 1½ lb. pkg: $0.29
- Ivory Soap, 2 bars: $0.29
- Mickey Mouse lunchbox: $0.88
- Slinky: $0.88
- Nylons, pair: $1.00
- Home permanent: $1.50
- Baseball Glove: $9.95
Prices in 1956
$1 in 1956 is worth $11.24 today if you factor in inflation.
- House: $9,550
- Average income: $4,454
- Ford car: $1748-$3151
- Milk: $.97
- Gas: $.23
- Bread $.18
- Postage stamp: $.03
- Chuck Pot Roast: $ .33 lb.
- Spareribs: $.39 lb.
- Cabbage: $.04 lb.
- Eggs, doz.: $.45
- Coffee: $.69 lb.
- Carnation Instant Chocolate Drink, 10oz.: $.33
- Rheingold Beer, 6, 12 .oz cans: $1.20
Prices in 1957
$1 in 1957 is worth $10.88 today if you factor in inflation.
- House: $10,000
- Average income: $4,494
- Ford car: $1879-$3408
- Milk: $1.00
- Gas: $.24
- Bread $.19
- Postage stamp: $.03
- Can of Libby’s peaches, 17 oz.: $ .25
- Swanson TV dinner: $.75
- Vermont Maid Syrup, 12 oz bottle: $.33
Prices in 1958
$1 in 1958 is worth $10.58 today if you factor in inflation.
- House: $10,450
- Average income: $4,650
- Ford car: $1967-$3929
- Milk: $1.01
- Gas: $.24
- Bread $.19
- Postage stamp: $.04
- Chef Boy-Ar-Dee spaghetti, 15 1/2 .oz can.: $ .19
- Corned Beef: $.59 lb.
- Swiss Steak: $.75 lb.
- Libby Tomato Juice, 5 (46 .oz) cans: $1.00
- Kraft Carmels, 1 lb pkg: $.37
- Milk: $.42 half gal.
- Uncle Ben’s Rice, 14 oz box – $.19
- Sunkist Oranges, 5 lbs.: $.49
- Cantaloupe: $.05 lb.
- Celery: $.04 lb.
- Tuition at Harvard: $1,250 yr.
- Nathan’s Hot Dog: $.25
- Roundtrip airfare London to New York: $453
Prices in 1959
$1 in 1959 is worth $10.50 today if you factor in inflation.
- House: $19,000
- Average income: $5,016
- Ford car: $2,132-$3,979
- Milk: $1.01
- Gas: $.25
- Bread $.20
- Postage stamp: $.04
- Brook Trout: $ .59
- T-Bone steak: $1.09 lb.
- Sirloin Tip Steaks: $.89 lb.
- Nestles Quick 1 lb can: $.39
- Tiny Tears doll: $9.88
- Steve Canyon Jet Helmet: $2.88
First a quick piece of trivia. I was usre that house in the ad had to be in Florida, so I did a newspaper search in the online archives and found it to be an ad for houses in southwest Miami in the summer of 1955, specifically an area called Westwood Lake. I can spot a South Florida home, or landscape in an instant. LOL
Now on to the price of living statistics. The US department of Labor estimates the average annual income of a salaried worker in 2023 to be from $53,500 to $59,500, so I’ll use the average of $56,500.
According to this site, the average income in 1955 (middle of the decade) was $4,137. Today’s income is 13.66 what it was in 1955. To simplify, I am going to use 13.7.
In 1951 a gallon of gas cost $0.23 which would be $3.14 today. In reality, I was paying just under $3,00 a gallon in 2020 when Donald Trump was President, until Joe Biden wrought his disastrous polices on the US. (ahh, the good old days of economic prosperity and world peace).
In 1951 bread was $0.18 which would make it $2.46 today. Bread runs about $2.70 to $3.00 depending on the brand and store.
In 1951 a dozen eggs cost $0.61, making todays price $8.33. Publix Supermarkets sells Publix brand extra-large eggs for $6.61.
In 1951 1/2 gal of milk was $0.43 or $5.87 today. Regular milk sells for $5.61 a GALLON (McArthur Milk, a Florida dairy with the slogan, “We all grew up on McArthur.”)
Potatoes were $0.53 for a 10-pound bag which would be $7.24 today. The actual price in Publix is $3.70 for 5 pounds which is $7.40 for 10-pounds.
What I am getting at is the BS spewed about everything being so much cheaper in the good old days (“I remember when a bottle of Coke was only five cents.”) when in reality prices are about equivalent. I’m sick of hearing it, and this website is just as bad. Even more striking is when we remember these are prices AFTER Joe Biden destroyed our economy and gave us sky high inflation, just imagine (or check it out with research) how much cheaper everything was in 2019 under President Trump.
President have nothing to do with prices raising. Companies raise prices and of Set them everyone.Car dealer prices 70,000 80,000 .same with gas Exxon – Valero. Has nothing to do with president. Am in my late sixties.
oh, but Brandon’s policies haven’t helped us at all. If you really look at the FACTS, instead of wanting student loans paid off, free abortions or “gender care” for all, you will see it.
What facts are you referring to exactly?
IF, you had 3 silver dimes in 1964. you could buy one gallon of gas . Those same three silver dimes, dated 1964. You could today, but one gallon of gas and have 1.63 cents left over. That is what the Federal Gov has done to your buying power.
1964 silver was taken out of your currency. All down hill from there. Silver and gold is wealth preservation.
In July 1957 I was 13 years old and made $45 a week for 12 hour day 6 days week hoeing weeds out of cotton fields. In some ways I enjoyed then much more than I do to day 2024 at 80
Yes, I did the same thing, and I know what you mean.
If you look at the price of homes in the 50’s, average cost was double your yearly income. Average income in my area is 35,000. Homes are over 250,000. That is how people need to look at things in my opinion. Income is not going up, but everything we need to survive is.
The basis of our economy is no longer silver or gold or the value we place on tangible objects. Our economy is based on the hours of our lives and the value we place on those minutes and hours. We still work 20 minutes for a gallon of fuel, a loaf of bread a candy bar for 8 minutes. We are now Wage slaves. As such we tend to depend on our employers to pay for our medical/health costs, our 401K and if we are blessed enough a decent pension. All of the benefits you are looking for from the Government are not in the control of the executive. Look to your congress and senate. The prices we pay are solely due to corporate wim. Get real and stop buying from greedy corporations.