How Much Did Things Cost in 1952?
While costs in 1952 would have varied depending on location, the average cost of a home was $9,050, a gallon of gas was 20 cents, the average price of a new car was $1,700, the average rent per month was $80 and a pound of hamburger cost about 53 cents. The People History offers these average costs for these mainstream items in USD.
The People History states that the average wage in 1952 was $3,400. By 1952, about three in five houses owned a car, two in three owned a telephone and one in three owned a television. Multpl.com notes that the Gross Domestic Product for the United States in December 1952 was $2.53 trillion compared to $15.99 trillion in June 2014.
There were a few major inventions during the year 1952, including the microwave oven. According to Baby Boomers, the first microwave oven was about the size of a refrigerator and cost over $1,200.00. Other inventions included the polio vaccine and the first contraceptive pill. The People History records the development of the world’s first passenger jet, The Comet, as well as the first hydrogen bomb, code named “Mike”. A smaller invention in 1952 was the installation of the first “Don’t Walk” sign in New York City.