According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 40.12% lower in 1997 versus 2017.
Between 1997 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.60% per year. In other words, owners' equivalent rent of residences costing $20 in the year 1997 would cost $33.40 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.13% during this same period, owners' equivalent rent of residences inflation was similar.
In the year 1997: Pricing changed by 2.81%, above the average yearly change for owners' equivalent rent of residences during the 1997-2017 time period. Compared to overall inflation for all items in 1997 (2.28%), 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: