According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 56.83% lower in 1988 versus 2017.
Between 1988 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.94% per year. In other words, owners' equivalent rent of residences costing $20 in the year 1988 would cost $46.33 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, owners' equivalent rent of residences inflation was similar.
In the year 1988: Pricing changed by 4.80%, above the average yearly change for owners' equivalent rent of residences during the 1988-2017 time period. Compared to overall inflation for all items in 1988 (3.92%), price inflation for owners' equivalent rent of residences was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of residences: