You Won’t Believe What Iconic Holiday Movie Homes Cost Today
Christmas movies are perennial must-sees. From “Home Alone” to “Miracle on 34th Street,” these films showcase now-iconic homes where characters celebrate the season’s joys. We may dream of living in these houses, but could today’s average American afford to buy one of these homes?
Home Alone (1990)
Address: 671 Lincoln Avenue, Winnetka, IL
“Home Alone” follows the misadventures of 8-year-old Kevin McCallister, whose family accidentally left him behind after heading to Paris to visit family. Initially reveling in his newfound freedom, Kevin soon faces a pair of bumbling burglars and devises elaborate traps to protect his home. Filled with comedy, heartwarming moments, and Kevin’s ingenious schemes, the holiday classic showcases the power of resourcefulness and the importance of family.
All parts of the movie, including the famous airport scene, were filmed in Illinois, and the Georgian home on a half-acre lot has an estimated price of $5.25 million. Although Winnetka is home to a few billionaires and has a median income of $250,100, the estimated monthly payments of $32,708 are unaffordable for the average American. The home was listed for sale this year and is currently pending under contract.
The Family Stone (2005)
Address: 144 Riverside Ave, Riverside, CT
“The Family Stone” portrays the Stone family’s eventful holiday reunion. The eldest son, Everett, brings his girlfriend, Meredith, home to meet his eccentric, tight-knit family. However, Meredith’s attempt to fit in with the Stones causes numerous challenges, leading to humorous and touching moments as family dynamics unravel.
The Connecticut home currently has an estimated value of $4.1 million — close to its 2008 price — while the median household income in Riverside is $250,000. In the movie, however, Everett Stone works on Wall Street. Meredith is a successful businessperson. Between their dual incomes, they could afford to buy this lavish home.
A Christmas Story (1983)
Address: 3159 W. 11th Street, Cleveland, OH
“A Christmas Story” is the nostalgic and humorous tale of young Ralphie Parker’s quest for the ultimate Christmas gift — a Red Ryder BB gun — despite warnings about its potential danger.
Set in 1940s Indiana, the film follows Ralphie as he navigates school, family dynamics, and his persistent campaign to secure the coveted present. With a blend of humor and heartwarming moments, the movie captures the essence of childhood dreams and the joys and challenges of the holiday season.
Although the movie takes place in Indiana, the iconic home is in Cleveland, Ohio, where the median income is $37,351. Although the home is off the market, its current estimated price of $164,673 is unaffordable for most residents in the county.
It’s a Wonderful Life (1946)
Address: 4587 Viro Rd, La Cañada Flintridge, CA
“It’s a Wonderful Life” tells the story of George Bailey, a compassionate, dedicated banker who manages Bailey Building and Loan in the small town of Bedford Falls. On Christmas Eve, facing financial ruin and disillusionment, George contemplates taking his life. However, a guardian angel intervenes, revealing George’s profound impact on his community. Through a heartfelt journey of self-discovery and redemption, the film celebrates the significance of kindness, love, and the effect of one’s life on others.
Although Flintridge, California, has a higher household income of $210,625 per the United States Census Bureau data, the home featured in the movie has an estimated value of $2.29 million, making it unaffordable.
Miracle on 34th Street (1947)
Address: 24 Derby Road, Port Washington, Long Island, NY
“Miracle on 34th Street” tells the heartwarming story of Susan Walker, a skeptical young girl who encounters Kriss Kringle, a man claiming to be Santa Claus, at Macy’s department store during Christmas. As Susan’s disbelief in Santa Claus is challenged, her wish for a house and a father figure becomes entwined with Kringle’s mission to restore her belief in the holiday spirit.
Homes like those on Susan’s wish list are barely affordable for Long Island residents, listed at around $1.1 million.
National Lampoon’s Christmas Vacation (1989)
Address: 727 West Kenneth Road, Glendale, CA
“National Lampoon’s Christmas Vacation” chronicles the misadventures of the Griswold family as they eagerly prepare for an extravagant Christmas celebration. Patriarch Clark Griswold anxiously anticipates his holiday bonus from his boss, Frank Shirley, hoping to install a swimming pool for his family. However, chaos ensues when Frank unexpectedly suspends bonuses, thwarting Clark’s perfect holiday plans and leading to a series of hilarious and chaotic mishaps.
Although most of the movie was filmed at the Warner Bros. Studio set, Frank’s home is in Glendale, California. Based on the current estimated purchase price of $4 million, its owners would pay $13,678 monthly. Although the movie does not mention specific details of Frank’s high-level executive position, the home would be unaffordable today based on the average income.
Economic Realities Limit Housing Access
In examining the affordability of iconic Christmas movie homes, it’s evident that the dream of owning these nostalgic residences remains elusive for many middle-class Americans today.
Several modern challenges hamper housing affordability, and residences depicted in classic Christmas movies are no exception. One primary contributing factor is the significant increase in real estate prices relative to household incomes.
Over the years, surging housing costs have outpaced the growth of incomes for many families. Simultaneously, high interest rates on home mortgages present a notable obstacle. Although homes are not considered liquid assets, they make up a large part of the average American’s net worth.
Soaring home prices, compounded by high mortgage interest rates, are formidable barriers as household incomes struggle to keep pace with the rapid rise in property costs.
This financial reality leaves only a select few of these cinematic dwellings within reach, highlighting the widening gap between the charming celluloid representations and the challenging economic landscape faced by families striving to achieve such holiday magic in their homes.
Like Financial Freedom Countdown content? Be sure to follow us!
The 10 States Taxing Social Security in 2024 and the 2 That Just Stopped
While many bask in the belief that their golden years will be tax-friendly, residents in nine specific states are facing a reality check as their Social Security benefits come under the taxman’s purview. Conversely, a wave of relief is set to wash over two states, marking an end to their era of taxing these benefits. This shift paints a complex portrait of retirement planning across the U.S., underscoring the importance of staying informed of the ever changing tax laws. Are you residing in one of these states? It’s time to uncover the impact of these tax changes on your retirement strategy and possibly reconsider your locale choice for those serene post-work years. Here are the states taxing social security benefits.
The States Taxing Social Security in 2024 and the 2 That Just Stopped
Retire Abroad and Still Collect Social Security? Avoid These 9 Countries Where It’s Not Possible
Dreaming of retiring to a sun-drenched beach or a quaint village? Many Americans envision spending their golden years abroad, savoring the delights of new cultures and landscapes. However, an essential part of this dream hinges on the financial stability provided by Social Security benefits. Before packing your bags and bidding farewell, it’s crucial to know that not all countries play by the same rules when it comes to collecting these benefits overseas. Here are the nine countries where your dream of retiring abroad could hit a snag, as Social Security benefits don’t cross every border. Avoid living in these countries so your retirement plans don’t get lost in translation.
Retire Abroad and Still Collect Social Security? Avoid These 9 Countries Where It’s Not Possible
What SECURE Act 2.0 Means for Your Future Retirement Plan
Three years on from the groundbreaking SECURE Act, which revolutionized America’s retirement landscape for the first time in a decade, the SECURE Act 2.0 sequel legislation aims to widen the gateway to retirement plans and benefits, introducing pivotal changes like automatic enrollment in select workplace pensions, increased catch-up contributions for the seasoned workforce, and extended retirement saving opportunities for part-time employees. Moreover, it promises to bolster individuals’ ability to set aside emergency funds, ensuring swift access in times of need, marking another significant stride toward securing a more financially stable future for all. Here are some of the key provisions.
What SECURE Act 2.0 Means for Your Future Retirement Plan
IRS Scrambles to Distribute $1,400 Stimulus Payments to 1 Million Taxpayers. Are You Eligible?
The IRS is preparing to deliver long-overdue stimulus payments to about 1 million Americans who m…
IRS Scrambles to Distribute $1,400 Stimulus Payments to 1 Million Taxpayers. Are You Eligible?
Did you find this article helpful? We’d love to hear your thoughts! Leave a comment with the box on the left-hand side of the screen and share your thoughts.
Also, do you want to stay up-to-date on our latest content?
1. Follow us by clicking the [+ Follow] button above,
2. Give the article a Thumbs Up on the top-left side of the screen.
3. And lastly, if you think this information would benefit your friends and family, don’t hesitate to share it with them!
John Dealbreuin came from a third world country to the US with only $1,000 not knowing anyone; guided by an immigrant dream. In 12 years, he achieved his retirement number.
He started Financial Freedom Countdown to help everyone think differently about their financial challenges and live their best lives. John resides in the San Francisco Bay Area enjoying nature trails and weight training.
Here are his recommended tools
Personal Capital: This is a free tool John uses to track his net worth on a regular basis and as a retirement planner. It also alerts him wrt hidden fees and has a budget tracker included.
Platforms like Yieldstreet provide investment options in art, legal, real estate, structured notes, venture capital, etc. They also have fixed-income portfolios spread across multiple asset classes with a single investment with low minimums of $10,000.
