According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of primary residence were 6% higher in 2019 versus 2017 (a $1.20 difference in value).
Between 2017 and 2019: Owners' equivalent rent of primary residence experienced an average inflation rate of 2.96% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of primary residence costing $20 in the year 2017 would cost $21.20 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 1.94% during this same period, inflation for owners' equivalent rent of primary residence was higher.
In the year 2017: Pricing changed by 3.31%, which is above the average yearly change for owners' equivalent rent of primary residence during the 2017-2019 time period. Compared to inflation for all items in 2017 (2.13%), inflation for owners' equivalent rent of primary residence was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of primary residence:
Below are calculations of equivalent buying power for Owners' equivalent rent of primary residence, over time, for $20 beginning in 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|