According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 38.18% lower in 1998 versus 2017.
Between 1998 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.56% per year. In other words, owners' equivalent rent of residences costing $20 in the year 1998 would cost $32.35 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.16% during this same period, owners' equivalent rent of residences inflation was similar.
In the year 1998: Pricing changed by 3.15%, above the average yearly change for owners' equivalent rent of residences during the 1998-2017 time period. Compared to overall inflation for all items in 1998 (1.53%), 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: