In 1988, the average U.S. salary was $19,334 a year, a gallon of regular gas cost $0.90 and median rent was about $405 a month. A dollar from 1988 buys what $2.85 buys today.
| Item | 1988 | 1988 in today’s dollars | Oct 2026 |
|---|---|---|---|
| SalaryAverage yearly wage | $19,334 | $55,119 | $74,499 |
| Payroll taxSocial Security and Medicare, employee share, yearly, on the average wage | $1,452 | $4,139 | $5,699 |
| A dozen eggsGrade A large, grocery store | ≈$0.97 | ≈$2.75 | $3.80 |
| A gallon of milkWhole milk, grocery store | ≈$2.03 | ≈$5.78 | $4.03 |
| Thanksgiving dinner for 10The Farm Bureau’s basket: turkey, sides and pie | ≈$28.79 | ≈$82.09 | $55.94 |
| Big MacSandwich only; sold nationally since 1968 | ≈$1.88 | ≈$5.35 | $6.06 |
| Ham & cheese sandwich groceries1 lb white bread, 1 lb sliced ham, 1 lb American cheese | ≈$5.98 | ≈$17.05 | $13.67 |
| Tank of gas15 gallons of regular unleaded | $13.50 | $38.49 | $66.06 |
| Car insuranceAverage yearly premium | ≈$485 | ≈$1,382 | $1,736 |
| Monthly rentMedian rent including utilities | ≈$405 | ≈$1,156 | $1,565 |
| Monthly mortgage paymentMedian home, 20% down, 30-yr fixed, with taxes and insurance | $745 | $2,125 | $2,787 |
| Property taxAverage yearly bill on a single-family home | ≈$1,120 | ≈$3,193 | $4,406 |
| A movie ticketAverage admission, all showtimes | ≈$3.86 | ≈$11.02 | $11.60 |
| A pack of cigarettesPremium brand, including state taxes | ≈$1.41 | ≈$4.03 | $8.72 |
| A night in a hotelMid-range room, average nightly rate | ≈$56.65 | ≈$161 | $163 |
| Cable TV billMonthly expanded basic package | ≈$13.49 | ≈$38.47 | $108 |
| MLB game ticketAverage non-premium seat | ≈$7.41 | ≈$21.11 | $42.50 |
| Daycare for one toddlerFull-time, licensed center, monthly | ≈$311 | ≈$886 | $1,382 |
| A year of public universityIn-state tuition and fees, four-year public | ≈$1,632 | ≈$4,654 | $11,993 |
| Having a baby in hospitalUncomplicated delivery, billed charges | ≈$3,288 | ≈$9,372 | $15,800 |
| A weddingCeremony and reception, not counting the ring | ≈$11,428 | ≈$32,581 | $34,802 |
| Cross-country flightRound trip coach, New York to Los Angeles | ≈$438 | ≈$1,248 | $444 |
| A first-class stampOne ounce, the price posted by the USPS | $0.25 | $0.71 | $0.78 |
U.S. prices at midyear 1988. ≈ marks estimates between data points; each item’s page lists its sources. Today’s dollars use the Consumer Price Index (CPI-U).