According to the U.S. Bureau of Labor Statistics, prices for housing are 107.55% higher in 2024 versus 1998 (a $25.77 difference in value).
Between 1998 and 2024: Housing experienced an average inflation rate of 2.85% per year. This rate of change indicates significant inflation. In other words, housing costing $23.96 in the year 1998 would cost $49.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for housing was higher.
In the year 1998: Pricing changed by 2.29%, which is below the average yearly change for housing during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for housing was higher.
Below are calculations of equivalent buying power for Housing, over time, for $23.96 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1998 | $23.96 | 2.29% |
1999 | $24.49 | 2.20% |
2000 | $25.33 | 3.46% |
2001 | $26.35 | 4.02% |
2002 | $26.93 | 2.22% |
2003 | $27.61 | 2.50% |
2004 | $28.32 | 2.57% |
2005 | $29.24 | 3.27% |
2006 | $30.35 | 3.80% |
2007 | $31.31 | 3.16% |
2008 | $32.31 | 3.19% |
2009 | $32.43 | 0.37% |
2010 | $32.31 | -0.37% |
2011 | $32.74 | 1.32% |
2012 | $33.28 | 1.65% |
2013 | $33.97 | 2.08% |
2014 | $34.85 | 2.58% |
2015 | $35.57 | 2.08% |
2016 | $36.45 | 2.48% |
2017 | $37.54 | 2.97% |
2018 | $38.62 | 2.89% |
2019 | $39.74 | 2.89% |
2020 | $40.61 | 2.19% |
2021 | $41.94 | 3.29% |
2022 | $44.94 | 7.15% |
2023 | $47.84 | 6.44% |
2024 | $49.73 | 3.95%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Housing:
Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 30.785 | 32.031 | 34.000 | 36.400 | 37.985 | 39.469 | 41.162 | 45.808 | 50.638 | 53.762 | 57.423 | 62.462 | 70.062 | 81.062 | 90.369 | 96.892 | 99.485 | 103.615 | 107.731 | 110.915 | 114.215 | 118.492 | 123.008 | 128.531 | 133.608 | 137.508 | 141.215 | 144.777 | 148.454 | 152.785 | 156.777 | 160.362 | 163.885 | 169.554 | 176.362 | 180.269 | 184.785 | 189.531 | 195.723 | 203.162 | 209.586 | 216.264 | 217.057 | 216.256 | 219.102 | 222.715 | 227.351 | 233.215 | 238.060 | 243.973 | 251.229 | 258.478 | 265.952 | 271.773 | 280.720 | 300.803 | 320.172 | 332.832 |