According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of primary residence were 35.75% higher in 2020 versus 2007 (a $7.15 difference in value).
Between 2007 and 2020: Owners' equivalent rent of primary residence experienced an average inflation rate of 2.38% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of primary residence costing $20 in the year 2007 would cost $27.15 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.71% during this same period, inflation for owners' equivalent rent of primary residence was higher.
In the year 2007: Pricing changed by 3.38%, which is above the average yearly change for owners' equivalent rent of primary residence during the 2007-2020 time period. Compared to inflation for all items in 2007 (2.85%), inflation for owners' equivalent rent of primary residence was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of primary residence:
Below are calculations of equivalent buying power for Owners' equivalent rent of primary residence, 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|