According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of primary residence are 118.33% higher in 2024 versus 1998 (a $23.67 difference in value).
Between 1998 and 2024: Owners' equivalent rent of primary residence experienced an average inflation rate of 3.05% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of primary residence costing $20 in the year 1998 would cost $43.67 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for owners' equivalent rent of primary residence was higher.
In the year 1998: Pricing changed by 3.25%, which is above the average yearly change for owners' equivalent rent of primary residence during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for owners' equivalent rent of primary residence was higher.
Below are calculations of equivalent buying power for Owners' equivalent rent of primary residence, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | 3.25% |
| 1999 | $20.55 | 2.73% |
| 2000 | $21.16 | 2.97% |
| 2001 | $21.97 | 3.84% |
| 2002 | $22.86 | 4.08% |
| 2003 | $23.42 | 2.43% |
| 2004 | $23.95 | 2.27% |
| 2005 | $24.51 | 2.33% |
| 2006 | $25.36 | 3.49% |
| 2007 | $26.22 | 3.38% |
| 2008 | $26.88 | 2.51% |
| 2009 | $27.33 | 1.66% |
| 2010 | $27.32 | -0.01% |
| 2011 | $27.64 | 1.16% |
| 2012 | $28.20 | 2.03% |
| 2013 | $28.82 | 2.21% |
| 2014 | $29.59 | 2.64% |
| 2015 | $30.45 | 2.91% |
| 2016 | $31.45 | 3.30% |
| 2017 | $32.49 | 3.31% |
| 2018 | $33.56 | 3.30% |
| 2019 | $34.68 | 3.33% |
| 2020 | $35.66 | 2.81% |
| 2021 | $36.57 | 2.57% |
| 2022 | $38.67 | 5.74% |
| 2023 | $41.56 | 7.47% |
| 2024 | $43.67 | 5.06%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of primary residence:
| Year | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 102.492 | 107.308 | 113.162 | 119.385 | 124.823 | 131.123 | 137.400 | 144.800 | 150.423 | 155.523 | 160.515 | 165.785 | 171.331 | 176.777 | 181.892 | 187.800 | 192.923 | 198.662 | 206.285 | 214.700 | 219.923 | 224.923 | 230.154 | 238.177 | 246.235 | 252.426 | 256.610 | 256.578 | 259.553 | 264.813 | 270.661 | 277.808 | 285.889 | 295.329 | 305.092 | 315.162 | 325.669 | 334.808 | 343.419 | 363.125 | 390.266 | 410.023 |