Value of a dollar · 1994
Value of a Dollar in 1994
$1 in 1994 had the same buying power as $2.12 in 2024. Prices rose 112% over those 30 years, an average of 2.53% a year.
- $100 from 1994 $212 in 2024 dollars
- Prices since +112% 2.12× the 1994 level
- Average inflation 2.53% a year, 1994–2024
- $100 in 2024 $47.25 in 1994 dollars
1994 dollars in 2024 money
| In 1994 | Worth in 2024 |
|---|---|
| $1 | $2.12 |
| $10 | $21.16 |
| $100 | $212 |
| $1,000 | $2,116 |
| $10,000 | $21,162 |
For a specific amount or a different pair of years, use the inflation calculator.
How $100 from 1994 kept pace
The amount needed in each later year to buy what $100 bought in 1994:
Prices had doubled by 2023, 29 years after 1994. The steepest single year along the way was 2022, when inflation reached 8.00%. Read what happened in 2022.
The federal minimum wage in 1994
The federal minimum wage was $4.25 an hour in 1994. In 2024 dollars that is about $8.99, compared with the actual $7.25 in 2024. Adjusted for inflation, the federal floor bought about 19% less in 2024 than it did in 1994. See today’s rates on minimum wage by state.
Borrowing in 1994
A 30-year fixed mortgage averaged 8.38% in 1994, against 6.76% this week. See every year on historical mortgage rates.
Value of a dollar in 1994 — FAQ
How much is $1 from 1994 worth today?
$1 in 1994 buys about as much as $2.12 did in 2024, the latest full year of Consumer Price Index data. $100 from 1994 equals about $212.
How much have prices gone up since 1994?
Consumer prices rose about 112% from 1994 to 2024, so things cost about 2.12 times as much. That works out to an average of 2.53% a year.
What would $100 in 2024 have been worth in 1994?
$100 in 2024 had the buying power of about $47.25 in 1994.
When did prices double after 1994?
By 2023, 29 years later, the price level was more than twice what it was in 1994, so a dollar saved in 1994 bought less than half as much.
Based on annual average Consumer Price Index levels. 2024 is the latest full year in the data, so “today” on this page means 2024 dollars.
Data: World Bank, World Development Indicators, via APIVerve. Our tables, charts and text are licensed CC BY-NC 4.0: share and adapt them for non-commercial use as long as you credit us. For commercial use or bulk data, use the APIVerve API. See the data terms. Cite as: Digest Your Finances, “Value of a Dollar by Year”, https://digestyourfinances.com/studies/value-of-a-dollar/1994/ — based on World Bank, World Development Indicators. CC BY-NC 4.0.
