According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 23.72% higher in 2017 versus 2007.
Between 2007 and 2017: Owners' equivalent rent of residences experienced an average inflation rate of 2.15% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2007 would cost $24.74 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 1.68% during this same period, inflation for owners' equivalent rent of residences was similar.
In the year 2007: Pricing changed by 3.38%, above the average yearly change for owners' equivalent rent of residences during the 2007-2017 time period. Compared to inflation for all items in 2007 (2.85%), 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: