According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 31.95% higher in 2020 versus 2008 (a $6.39 difference in value).
Between 2008 and 2020: Owners' equivalent rent of residences experienced an average inflation rate of 2.34% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2008 would cost $26.39 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 2008: Pricing changed by 2.51%, which is above the average yearly change for owners' equivalent rent of residences during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for owners' equivalent rent of residences was lower.
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 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|