According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences are 27.80% higher in 2022 versus 2014 (a $5.56 difference in value).
Between 2014 and 2022: Owners' equivalent rent of residences experienced an average inflation rate of 3.11% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2014 would cost $25.56 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.42% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 2014: Pricing changed by 2.64%, which is below the average yearly change for owners' equivalent rent of residences during the 2014-2022 time period. Compared to inflation for all items in 2014 (1.62%), 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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of residences: