Owners' equivalent rent of primary residence priced at $20 in 2004 → $36.53 in 2024

Owners' Equivalent Rent Of Primary Residence Inflation Calculator

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Prices for Owners' Equivalent Rent Of Primary Residence, 2004-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of primary residence are 82.64% higher in 2024 versus 2004 (a $16.53 difference in value).

Between 2004 and 2024: Owners' equivalent rent of primary residence experienced an average inflation rate of 3.06% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of primary residence costing $20 in the year 2004 would cost $36.53 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation for owners' equivalent rent of primary residence was higher.

In the year 2004: Pricing changed by 2.27%, which is below the average yearly change for owners' equivalent rent of primary residence during the 2004-2024 time period. Compared to inflation for all items in 2004 (2.68%), inflation for owners' equivalent rent of primary residence was lower.

Price Inflation for Owners' equivalent rent of primary residence since 1982

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2023 (7.47%), 2022 (5.74%), and 1986 (5.50%).
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Buying power of $20.00 since 2004

Below are calculations of equivalent buying power for Owners' equivalent rent of primary residence, over time, for $20 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2004$20.002.27%
2005$20.472.33%
2006$21.183.49%
2007$21.903.38%
2008$22.452.51%
2009$22.821.66%
2010$22.81-0.01%
2011$23.081.16%
2012$23.552.03%
2013$24.072.21%
2014$24.702.64%
2015$25.422.91%
2016$26.263.30%
2017$27.133.31%
2018$28.023.30%
2019$28.963.33%
2020$29.772.81%
2021$30.542.57%
2022$32.295.74%
2023$34.707.47%
2024$36.535.26%*

* 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:

Year1982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000102.492107.308113.162119.385124.823131.123137.400144.800150.423155.523160.515165.785171.331176.777181.892187.800192.923198.662206.285214.700219.923224.923230.154238.177246.235252.426256.610256.578259.553264.813270.661277.808285.889295.329305.092315.162325.669334.808343.419363.125390.266410.810

Adjust owners' equivalent rent of primary residence prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2004 * 2004 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Owners' equivalent rent of primary residence was 224.923 in the year 2004 and 410.810 in 2024:

410.810 / 224.923 * $20 = $36.53

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2004 has the same "purchasing power" as $36.53 in 2024 (in the CPI category of Owners' equivalent rent of primary residence).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Owners' equivalent rent of primary residence in 1982. In addition to owners' equivalent rent of primary residence, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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