What's changed in LA since Dodgers' last World Series trip in 1988?
For the first time since 1988, the Los Angeles Dodgers have made it to the World Series. Quite a bit has changed in Los Angeles since the team’s last trip to the Fall Classic. How much is different? We take a look at some of the bigger shifts over the past 30 years:
Home Prices
The S&P CoreLogic Case-Shiller Home Price Index for Los Angeles was 85.82 back in October 1988. Today, that number is all the way up over 263. The index uses a variety of factors to calculate home values on a monthly basis from 1987 to now. Primarily, it looks at the increase in single-family home prices for a given market from one sale to the next.
Though median home sale price data is not readily available for 1988, we know today’s is a rather high $575.130 for Los Angeles County. California Association of Realtors data reveals a median sale price of a little over $215,000 for January 1990 (the furthest back their public data goes).
Inflation
The home price gulf is pretty large, even when accounting for inflation. The average inflation rate from 1988 to 2017 was 2.56 percent, equaling 107.91 percent for the entire time frame. If you had $100 in 1988, it would be worth $208 today. Median sales prices far outpaced that rate.
Ticket prices have also climbed at a rate far exceeding inflation. World Series tickets were $40 back in 1988. Prior to the start of the postseason, the Dodgers announced the cheapest prices would be $231 for a single game.
Population
Los Angeles County’s total resident count has climbed considerably since 1988, from 8.7 million then to 10.2 million now, according to the U.S. Census Bureau. The city of Los Angeles itself has been a big part of that increase. Today’s population is close to four million people, while in 1988, that number was closer to 3.4 million.