According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 62.22% higher in 2017 versus 1998.
Between 1998 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.58% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 1998 would cost $32.44 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.17% during this same period, inflation for owners' equivalent rent of residences was similar.
In the year 1998: Pricing changed by 3.25%, above the average yearly change for owners' equivalent rent of residences during the 1998-2017 time period. Compared to inflation for all items in 1998 (1.55%), 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: