The average annual salary in the United States in 1950 was $3,210. The average cost of a gallon of gas in 1950 was 18 cents, while the cost of a new car was $1,510 and a house would cost roughly $8,450. During that year, the unemployment rate was falling steadily.
The year 1950 was a time of great change for Americans. The war was over, and people across the country were trying to rebuild and get back on their feet, even with the looming fear of nuclear mishap. At that time, the population of the United States was roughly 50,697,361.