According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence are 1,155.52% higher in 2024 versus 1923 (a $11,555.23 difference in value).
Between 1923 and 2024: Rent experienced an average inflation rate of 2.54% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 1923 would cost $12,555.23 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.92% during this same period, inflation for rent was lower.
In the year 1923: Pricing changed by 2.90%, which is above the average yearly change for rent during the 1923-2024 time period. Compared to inflation for all items in 1923 (1.79%), inflation for rent was higher.
Below are calculations of equivalent buying power for Rent, over time, for $1,000 beginning in 1923. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1923 | $1,000.00 | 2.90% |
| 1924 | $1,032.99 | 3.30% |
| 1925 | $1,036.79 | 0.37% |
| 1926 | $1,023.80 | -1.25% |
| 1927 | $1,006.80 | -1.66% |
| 1928 | $982.80 | -2.38% |
| 1929 | $959.81 | -2.34% |
| 1930 | $931.81 | -2.92% |
| 1931 | $878.82 | -5.69% |
| 1932 | $778.84 | -11.38% |
| 1933 | $673.87 | -13.48% |
| 1934 | $639.87 | -5.04% |
| 1935 | $641.87 | 0.31% |
| 1936 | $656.87 | 2.34% |
| 1937 | $689.26 | 4.93% |
| 1938 | $710.26 | 3.05% |
| 1939 | $710.86 | 0.08% |
| 1940 | $712.57 | 0.24% |
| 1941 | $724.47 | 1.67% |
| 1942 | $740.62 | 2.23% |
| 1943 | $740.62 | 0.00% ** |
| 1944 | $742.22 | 0.22% |
| 1945 | $744.45 | 0.30% |
| 1946 | $749.25 | 0.64% |
| 1947 | $773.61 | 3.25% |
| 1948 | $824.84 | 6.62% |
| 1949 | $860.60 | 4.34% |
| 1950 | $892.44 | 3.70% |
| 1951 | $927.51 | 3.93% |
| 1952 | $966.27 | 4.18% |
| 1953 | $1,017.03 | 5.25% |
| 1954 | $1,053.25 | 3.56% |
| 1955 | $1,068.02 | 1.40% |
| 1956 | $1,087.63 | 1.84% |
| 1957 | $1,108.62 | 1.93% |
| 1958 | $1,128.93 | 1.83% |
| 1959 | $1,145.08 | 1.43% |
| 1960 | $1,161.92 | 1.47% |
| 1961 | $1,176.69 | 1.27% |
| 1962 | $1,191.22 | 1.24% |
| 1963 | $1,203.22 | 1.01% |
| 1964 | $1,215.68 | 1.04% |
| 1965 | $1,227.68 | 0.99% |
| 1966 | $1,244.52 | 1.37% |
| 1967 | $1,266.90 | 1.80% |
| 1968 | $1,297.36 | 2.40% |
| 1969 | $1,339.35 | 3.24% |
| 1970 | $1,394.72 | 4.13% |
| 1971 | $1,459.32 | 4.63% |
| 1972 | $1,509.62 | 3.45% |
| 1973 | $1,575.38 | 4.36% |
| 1974 | $1,654.28 | 5.01% |
| 1975 | $1,739.65 | 5.16% |
| 1976 | $1,833.79 | 5.41% |
| 1977 | $1,944.07 | 6.01% |
| 1978 | $2,077.89 | 6.88% |
| 1979 | $2,229.71 | 7.31% |
| 1980 | $2,426.98 | 8.85% |
| 1981 | $2,637.63 | 8.68% |
| 1982 | $2,838.12 | 7.60% |
| 1983 | $3,002.17 | 5.78% |
| 1984 | $3,158.14 | 5.20% |
| 1985 | $3,352.18 | 6.14% |
| 1986 | $3,547.60 | 5.83% |
| 1987 | $3,693.65 | 4.12% |
| 1988 | $3,834.39 | 3.81% |
| 1989 | $3,983.43 | 3.89% |
| 1990 | $4,151.40 | 4.22% |
| 1991 | $4,298.60 | 3.55% |
| 1992 | $4,406.35 | 2.51% |
| 1993 | $4,509.25 | 2.34% |
| 1994 | $4,619.31 | 2.44% |
| 1995 | $4,732.36 | 2.45% |
| 1996 | $4,857.64 | 2.65% |
| 1997 | $4,999.08 | 2.91% |
| 1998 | $5,161.28 | 3.24% |
| 1999 | $5,323.47 | 3.14% |
| 2000 | $5,516.59 | 3.63% |
| 2001 | $5,762.31 | 4.45% |
| 2002 | $5,988.88 | 3.93% |
| 2003 | $6,164.23 | 2.93% |
| 2004 | $6,329.43 | 2.68% |
| 2005 | $6,518.85 | 2.99% |
| 2006 | $6,751.42 | 3.57% |
| 2007 | $7,038.96 | 4.26% |
| 2008 | $7,296.68 | 3.66% |
| 2009 | $7,462.86 | 2.28% |
| 2010 | $7,480.07 | 0.23% |
| 2011 | $7,607.62 | 1.71% |
| 2012 | $7,809.44 | 2.65% |
| 2013 | $8,030.13 | 2.83% |
| 2014 | $8,283.20 | 3.15% |
| 2015 | $8,579.24 | 3.57% |
| 2016 | $8,902.83 | 3.77% |
| 2017 | $9,242.43 | 3.81% |
| 2018 | $9,576.75 | 3.62% |
| 2019 | $9,931.73 | 3.71% |
| 2020 | $10,241.98 | 3.12% |
| 2021 | $10,471.95 | 2.25% |
| 2022 | $11,103.75 | 6.03% |
| 2023 | $11,986.88 | 7.95% |
| 2024 | $12,555.23 | 4.74%* |
* 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 Rent of primary residence:
| Year | 1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 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 | 21.000 | 21.000 | 21.150 | 21.350 | 21.100 | 21.750 | 23.700 | 28.067 | 31.800 | 32.400 | 33.340 | 34.440 | 34.567 | 34.133 | 33.567 | 32.767 | 32.000 | 31.067 | 29.300 | 25.967 | 22.467 | 21.333 | 21.400 | 21.900 | 22.980 | 23.680 | 23.700 | 23.757 | 24.154 | 24.692 | 24.692 | 24.745 | 24.820 | 24.980 | 25.792 | 27.500 | 28.692 | 29.754 | 30.923 | 32.215 | 33.908 | 35.115 | 35.608 | 36.262 | 36.962 | 37.638 | 38.177 | 38.738 | 39.231 | 39.715 | 40.115 | 40.531 | 40.931 | 41.492 | 42.238 | 43.254 | 44.654 | 46.500 | 48.654 | 50.331 | 52.523 | 55.154 | 58.000 | 61.138 | 64.815 | 69.277 | 74.338 | 80.915 | 87.938 | 94.623 | 100.092 | 105.292 | 111.762 | 118.277 | 123.146 | 127.838 | 132.808 | 138.408 | 143.315 | 146.908 | 150.338 | 154.008 | 157.777 | 161.954 | 166.669 | 172.077 | 177.485 | 183.923 | 192.115 | 199.669 | 205.515 | 211.023 | 217.338 | 225.092 | 234.679 | 243.271 | 248.812 | 249.385 | 253.638 | 260.367 | 267.725 | 276.162 | 286.032 | 296.820 | 308.143 | 319.289 | 331.124 | 341.468 | 349.135 | 370.199 | 399.643 | 418.591 |