12 Ways Owning a Home Has Changed Since the 1950s

It’s the 1950s, and World War II has just ended. Nothing represented the American dream like owning a car, a business, and a single-family home surrounded by white picket fences.

The American dream still lives on, but a lot has changed since then.

Over the last seven decades, several factors have redefined home ownership. With higher interest on mortgage rates and inflation, owning a home has become more challenging, especially for young adults. But even the older generation will tell you that owning a home differs from the good old days.

By analyzing decades of housing market data and interviewing real estate veterans who’ve witnessed this evolution firsthand, I found that changes go far beyond rising prices. Federal housing records and economic reports show a striking shift in how we use our living spaces.

Here are 12 changes that have affected homeownership since the 1950s.

Smart Homes

If you owned a home in the 1950s, you wouldn't be worried about Alexa eavesdropping on your conversations. But today's homeowners are willing to make that trade-off for the convenience of smart homes.

Home automation began to take off in the late 1990s and early 2000s, and since then, there has been no looking back. With smart kitchens, voice-activated controls, and security systems integrated into modern homes, owning a home now is very different from what it used to be.

More Expensive Houses

Houses used to be more affordable in the 1950s. According to Fox Business, the average home cost around $7,354 in the 50s. When adjusted for inflation, that sums up to $93,602. But finding a reasonably priced house today is like finding a needle in a haystack.

Now, you'd have to cough up around $430,000 to own an average home in the US.

A number of factors account for the skyrocketing house prices. One is that as the population increased, the demand for houses increased. Also, the cost of materials, labor, and inflation have contributed to rising house prices.

Dual Income

In the 1950s, traditional homes comprised one partner working outside the home while the other tended to the kids and house chores. Nowadays, dual-income households are the norm.

Families have more purchasing power with two incomes, making it easier to afford a home. The extra income can also go toward the mortgage and home maintenance expenses.

Delayed Home Ownership

The economy was strong after World War II, and mortgage interest rates were low. During this period, many citizens owned homes straight out of school or after getting married. Government policies also helped veterans buy homes.

Compared to today's reality, it's more common for young people to rent for longer periods or get married later.

Student loan debt plays a huge role in this trend, swallowing many young people's earnings. Plus, the high cost of living means saving for a down payment takes way longer.

Homes are Now Investments

The motive for owning a home has changed a lot since the 50s. Back then, owning a house was about stability, settling down, and raising a family. These days, people approach buying a home like a business decision.

You've probably heard people talking about buying houses and how it could generate money. Also, people buy properties these days with the sole aim of renting or leasing them out.

Increased Mobility

People in the 1950s were less likely to relocate after buying a home. With more stable jobs and fewer opportunities to relocate, a house was a long-term commitment that required serious thought.

Things have changed since then. Jobs aren't as rigid as before, companies move around frequently, and remote work is an option. These changes mean people can relocate when better opportunities come knocking.

They also mean prospective homeowners are less likely to splurge money on a mansion in the suburbs. And with services like Airbnb, your home can generate income when you're away, which wasn't an option in the 50s.

Smaller Family Sizes

A typical family house in the 1950s had plenty of kids running around a spacious backyard. With several children, the homes were bigger to accommodate everyone.

Smaller families are now common as there are more family planning alternatives and single-parent households. There's also the case of couples who choose not to have kids.

The property market reflects this trend with smaller apartments and townhouses. While large houses are still in high demand, more people are tilting toward open floor plans and flexible spaces.

Diverse Neighborhoods

Neighborhoods in the 1950s were more segregated, with people of a similar race, social status, or culture living in one area.

Nowadays, homogenous communities are less common. People of different age groups, races, sexualities, religions, and social statuses live in the same area. Due to immigration and changing demographics, homeowners can experience other cultures, languages, and perspectives.

Environmental Concerns

In the 1950s, homeowners mainly focused on cost and style rather than sustainability. That has changed dramatically in the last 70 years. These days, people consider environmental impact when buying or building a home.

Thanks to increased carbon footprint awareness, many modern citizens prefer the installation of energy-efficient home appliances and devices. Moreover, the construction industry is now paying greater attention to sustainable building methods and materials than ever.

Online Resources

You don't have to be a computer wizard to research properties you're interested in. Instead of solely relying on newspapers and local real estate agents, you can find listings from anywhere with just a few clicks.

As long as you have access to the internet, you can compare prices, see mortgage rates, and even partake in virtual tours of any property.

What's more? Many aspects of the home-buying process do not require your physical presence. You can sign all the paperwork you need without ever leaving your home. Homeowners in the 50s didn't have these luxuries.

DIY Culture

Previously, people relied on a professional if something needed fixing in their home. But the internet brought tutorials and the DIY culture. Now you can fix almost anything at home with the right tools and knowledge.

With DIY, you save money and feel a sense of accomplishment. You can also add personal touches to your home without relying on a third party. Of course, you can only DIY your way out of some things, and certain projects are best left to the experts.

Home Owners Association

Although Home Owners Associations (HOAs) existed in the 1950s, they were merely neighborhood associations and less formal. Today, these associations handle anything from architectural designs to even the color of your house.

HOAs do not just maintain local amenities; they also have legal backing to enforce regulations and fines.

Like them or not, homeowners associations are no longer basic organizations; they've evolved into powerful bodies with significant influence over the homes in their area.