In the 1970s, the average price of a house was surprisingly low compared to today's standards. Depending on where you lived in the United States, the average price of a house in the 1970s ranged anywhere from $22,000 to $60,000. This is minuscule compared to what an average house costs today.

As expected, the cost of living was significantly lower in the 1970s than it is today as well. This is due in part to the fact that wages did not increase at the same rate as the cost of goods. Additionally, the stock market (which had a huge bull run in the late 1970s) had yet to completely take off.

There were several positive benefits to the low cost of housing in the 1970s. One major benefit was that people had a much easier time saving for a down payment and becoming first-time home buyers. A 20% down payment on a house costing $30,000 in the 1970s was only $6,000. This is drastically lower than a 20% down payment on an average priced house today. However, even this small down payment was still attainable for many families with careful budgeting and dedication to saving.

Additionally, mortgages were much more affordable in the 1970s. With a 10-15 year fixed rate mortgage, the monthly payments ranged from $200 - $300 depending on the size of the loan. This was much easier to afford with stable incomes and held quite a bit of purchasing power.

Finally, because the cost of housing was so low, people were able to buy larger homes for the same price of a much smaller home today. This allowed for bigger families and more out-of-town visitors. It also meant that renovations and repairs cost less and a well-maintained home could hold its value much better due to increased demand.

Overall, the average price of a house in the 1970s had several positive benefits that many people today do not enjoy. Due to the low cost of housing, people were able to buy bigger homes, save more for a down payment, and have much more affordable mortgage payments. People in the 1970s also had a much easier time maintaining and repairing their homes due to the low cost.