According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 71.01% higher in 2018 versus 1997.
Between 1997 and 2018: Owners' equivalent rent of residences experienced an average inflation rate of 2.59% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 1997 would cost $34.20 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.10% during this same period, inflation for owners' equivalent rent of residences was similar.
In the year 1997: Pricing changed by 2.89%, above the average yearly change for owners' equivalent rent of residences during the 1997-2018 time period. Compared to inflation for all items in 1997 (2.33%), 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: