The Wealth of the McCallister Family in 'Home Alone'
An investigation into the financial status of the famous movie family in 'Home Alone'
The McCallister Family's Home and Trip to Paris
In the 1990 film 'Home Alone,' the McCallister family, consisting of Peter and Kate McCallister and their five children, including Kevin, lived in a large home and were preparing to go on a trip to Paris.
This raised the question of how wealthy the McCallister family actually was, and The New York Times decided to investigate.
They collaborated with three economists from the Federal Reserve Bank of Chicago to analyze data related to household incomes, property values, mortgage rates, taxes, and insurance.
The Affordable Price of the McCallister Home
Using data from household incomes in the Chicago area in the 1990s and considering the property value of the McCallister home, the economists determined that a household with an income of $305,000 in 1990 (equivalent to about $665,000 in 2022) would have been able to afford the home.
However, this would only be feasible if the family did not spend more than 30 percent of their income on housing expenses.
Based on this analysis, the home would only be affordable for those in the top 1 percent of Chicago-area incomes.
Estimating the Current Value of the Home
Zillow, a popular real estate website, estimated that the Home Alone house would cost around $2.4 million in 2022.
Additionally, Realtor.com listed the home as being located in one of the most expensive neighborhoods in the United States.
These figures further emphasize the luxury and exclusivity of the McCallister family's residence.
