1974: $35,900 Despite the economic slowdown, home prices proved surprisingly resilient, jumping to a median of $35,900 ($177,891.04 with inflation). Perhaps the most notable moment of this year came when Richard Nixon resigned from the presidency.
In 1974, a gallon of whole milk cost $1.39, bacon was 99 cents for a one-pound package, and eggs were 58 cents a dozen. Americans paid an average of $4,441 for a new car, up $389 from the previous year. Annual tuition for a public college averaged $512. At a private college, the average tuition was $2,130.