Real estate prices (both rents and purchase price) will vary in the direction of OTHER people's income. If your individual retirement income is fixed relative to inflation, and the rest of the area's income rises after inflation, prices will go up - giving you an advantage if you own, a disadvantage if you rent.
That long term analysis is subject to big variations, though. Some cities get real estate bubbles while others collapse (Seattle vs Detroit). And eras vary, not every year fits the pattern.
I think I remember reading in Thoreau or something (1830s) that the average man spent a third of his income on housing. Seems pretty similar to now except that incomes are higher and property ownership not limited to men...