According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 27.99% higher in 2018 versus 2007 (a $5.60 difference in value).
Between 2007 and 2018: Owners' equivalent rent of residences experienced an average inflation rate of 2.27% 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 $25.60 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 1.76% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 2007: Pricing changed by 3.37%, which is above the average yearly change for owners' equivalent rent of residences during the 2007-2018 time period. Compared to inflation for all items in 2007 (2.85%), 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:
Below are calculations of equivalent buying power for Owners' equivalent rent of residences, over time, for $20 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|