According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences are 9.04% higher in 2022 versus 2019 (a $1.81 difference in value).
Between 2019 and 2022: Owners' equivalent rent of residences experienced an average inflation rate of 2.93% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 2019 would cost $21.81 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.90% during this same period, inflation for owners' equivalent rent of residences was lower.
In the year 2019: Pricing changed by 3.33%, which is above the average yearly change for owners' equivalent rent of residences during the 2019-2022 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. 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: