According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 29.32% lower in 2002 versus 2017.
Between 2002 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.34% per year. In other words, owners' equivalent rent of residences costing $20 in the year 2002 would cost $28.30 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.07% during this same period, owners' equivalent rent of residences inflation was similar.
In the year 2002: Pricing changed by 3.92%, above the average yearly change for owners' equivalent rent of residences during the 2002-2017 time period. Compared to overall inflation for all items in 2002 (1.56%), 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: