Another entertainment was going to the movie theatre. The cost was 15 cents, some special movies might cost 25 cents. Tickets today run about $10 each. Playing music on vinyl records was popular in the 1920s.
A ticket for a double feature and a live show cost 25 cents. For a quarter, Americans could escape from their problems and lose themselves in another era or world. People of all ages attended the movies with far more regularity than today, often going more than once per week.
According to the IRS, the average income in 1920 reported $3,269.40 per year. As of 2023, this amount translates to $49.341. 13. Most of the tax returns were filed by men who were employed by various employers, rather than self-employed.
Rent prices for a single person's apartment in the 1920s averaged at about $60 per month. Yes… just $60 per month! According to the US Inflation Calculator, however, that amount of money would be equivalent to about $776 today, which is on the lower end of apartment rental prices nowadays.
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What would $1 buy in 1920?
A dollar in 1920 could buy around three dozen eggs, or, just under three pounds of butter. That's right, butter back then was 36 cents — $8.72 in today's dollars, or around double what it costs in most places in the US.
$100 in 1920 is worth $1,504.20 today. $100 in 1920 has the same purchasing power as $1,504.20 today. Over the 103 years this is a change of $1,404.20. The average inflation rate of the dollar between 1920 and 2023 was 1.76% per year.
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).
In the Roaring '20s, milk was 35¢ or so per gallon. But when the Great Depression hit in 1929, fewer people could afford milk and dairy farmers still had a lot of milk to sell. The price dropped from 35¢ per gallon to 26¢ per gallon. It doesn't sound like much, but 9¢ in 1930 is about $1.09 in today's dollars.
The Ford Model T, which cost around $300 in 1923, was still one of the most popular cars that year, a testament to the fact that Henry Ford's production methods had made automobiles affordable to a large portion of Americans.
Going out for dinner, a meal could cost about 50 to 70 cents each. Having an automobile was desired in a family. Depending on the make and model, a Chevrolet in the 1920s would cost about $525. Gasoline was 30 cents a gallon with service provided at the pump.
I don't have access to sources breaking up income by population percentage, but I believe it would be safe to say that anyone making $5,000 or more in the 1920s would be reasonably well off, and anyone making $10,000 or more per year would be doing quite well.
According to https://www.in2013dollars.com, these are the cost of each century of dresses. 1920s-$15.49, 1930s-$20, 1940s-$20.36, 1950s-$30.01, 1960s-$34, 1970s-$52.75, 1980s-$66.87, 1990s-$87.27, 2000s-$68.03, 2010s-$76.25, 2020s-$68.31.
The explosion of automobile sales of the 1920s, and the rapid growth of gas stations increased fuel demand and prices. Throughout the 1920s, gas prices averaged 21 to 30 cents per gallon.
Try finger foods like devilled eggs, tea sandwiches, salted nuts, prawn cocktail and canapés. Cakes were also very popular in the 1920s with red velvets, pound cakes and devil cakes popular.
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Bee's knees – saying that something is terrific; such as, “Liberty Science Center is the bee's knees” Big Cheese – somebody important. Bird – a general term used to describe a man or woman; might be used along the lines of “she's a funny old bird” Bootlegger – someone who makes or sells alcohol illegally.
$50,000 in 1920 has the same purchasing power as $752,100.00 today. Over the 103 years this is a change of $702,100.00. The average inflation rate of the dollar between 1920 and 2023 was 1.76% per year. The cumulative price increase of the dollar over this time was 1,404.20%.
1920. A $100 bill in 1920 has the same buying power as $1,258.23 today, enough pay at the pump for 540 gallons of gas at its recent average of $2.33 per gallon. That $100 would have gone a long way toward keeping consumers rolling in 1920, too.
$1 in 1960 has the same purchasing power as $10.16 today. Over the 63 years this is a change of $9.16. The average inflation rate of the dollar between 1960 and 2023 was 1.95% per year. The cumulative price increase of the dollar over this time was 916.35%.
