According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 15.83% higher in 2021 versus 2016 (a $3.17 difference in value).
Between 2016 and 2021: Owners' equivalent rent of residences experienced an average inflation rate of 2.98% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2016 would cost $23.17 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.34% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 2016: Pricing changed by 3.30%, which is above the average yearly change for owners' equivalent rent of residences during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), inflation for owners' equivalent rent of residences was higher.
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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|