We can see this by adjusting for household size and improvements like air conditioning, garages, and extra bathrooms. Household Size: Average household size declined from 3.06 persons in 1972 to 2.51 in 2023, an 18 percent decrease. In terms of affordability, one percent of household income bought 23.95 square feet of housing in 1972, compared to 41.66 square feet in 2023. After adjusting for increased square footage and smaller household size, the share of household income spent on housing falls to 14.3 percent. In effect, we’re now spending less than half as much of our household income on basic housing compared to the early 1970s.