According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 44.88% higher in 2018 versus 2002.
Between 2002 and 2018: Owners' equivalent rent of residences experienced an average inflation rate of 2.34% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2002 would cost $28.98 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.04% during this same period, inflation for owners' equivalent rent of residences was similar.
In the year 2002: Pricing changed by 4.08%, above the average yearly change for owners' equivalent rent of residences during the 2002-2018 time period. Compared to inflation for all items in 2002 (1.59%), 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: