According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences are 125.40% higher in 2024 versus 1997 (a $25.08 difference in value).
Between 1997 and 2024: Owners' equivalent rent of residences experienced an average inflation rate of 3.06% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 1997 would cost $45.08 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 1997: Pricing changed by 2.89%, which is below the average yearly change for owners' equivalent rent of residences during the 1997-2024 time period. Compared to inflation for all items in 1997 (2.33%), inflation for owners' equivalent rent of residences was higher.
Below are calculations of equivalent buying power for Owners' equivalent rent of residences, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $20.00 | 2.89% |
| 1998 | $20.65 | 3.25% |
| 1999 | $21.21 | 2.73% |
| 2000 | $21.84 | 2.97% |
| 2001 | $22.68 | 3.84% |
| 2002 | $23.61 | 4.08% |
| 2003 | $24.18 | 2.43% |
| 2004 | $24.73 | 2.27% |
| 2005 | $25.31 | 2.33% |
| 2006 | $26.19 | 3.49% |
| 2007 | $27.07 | 3.38% |
| 2008 | $27.76 | 2.51% |
| 2009 | $28.22 | 1.66% |
| 2010 | $28.21 | -0.01% |
| 2011 | $28.54 | 1.16% |
| 2012 | $29.12 | 2.03% |
| 2013 | $29.76 | 2.21% |
| 2014 | $30.55 | 2.64% |
| 2015 | $31.44 | 2.91% |
| 2016 | $32.48 | 3.30% |
| 2017 | $33.55 | 3.30% |
| 2018 | $34.65 | 3.29% |
| 2019 | $35.81 | 3.33% |
| 2020 | $36.81 | 2.81% |
| 2021 | $37.76 | 2.58% |
| 2022 | $39.92 | 5.73% |
| 2023 | $42.90 | 7.47% |
| 2024 | $45.08 | 5.07%* |
* 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 residences:
| 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 | 256.584 | 259.570 | 264.838 | 270.685 | 277.832 | 285.926 | 295.365 | 305.100 | 315.151 | 325.635 | 334.776 | 343.400 | 363.086 | 390.191 | 409.983 |