According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence are 504.23% higher in 2024 versus 1978 (a $5,042.29 difference in value).
Between 1978 and 2024: Rent experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 1978 would cost $6,042.29 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for rent was higher.
In the year 1978: Pricing changed by 6.88%, which is above the average yearly change for rent during the 1978-2024 time period. Compared to inflation for all items in 1978 (7.63%), inflation for rent was lower.
Below are calculations of equivalent buying power for Rent, over time, for $1,000 beginning in 1978. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1978 | $1,000.00 | 6.88% |
| 1979 | $1,073.06 | 7.31% |
| 1980 | $1,168.00 | 8.85% |
| 1981 | $1,269.38 | 8.68% |
| 1982 | $1,365.87 | 7.60% |
| 1983 | $1,444.81 | 5.78% |
| 1984 | $1,519.88 | 5.20% |
| 1985 | $1,613.26 | 6.14% |
| 1986 | $1,707.31 | 5.83% |
| 1987 | $1,777.59 | 4.12% |
| 1988 | $1,845.33 | 3.81% |
| 1989 | $1,917.06 | 3.89% |
| 1990 | $1,997.89 | 4.22% |
| 1991 | $2,068.73 | 3.55% |
| 1992 | $2,120.59 | 2.51% |
| 1993 | $2,170.11 | 2.34% |
| 1994 | $2,223.07 | 2.44% |
| 1995 | $2,277.48 | 2.45% |
| 1996 | $2,337.77 | 2.65% |
| 1997 | $2,405.84 | 2.91% |
| 1998 | $2,483.90 | 3.24% |
| 1999 | $2,561.96 | 3.14% |
| 2000 | $2,654.90 | 3.63% |
| 2001 | $2,773.15 | 4.45% |
| 2002 | $2,882.19 | 3.93% |
| 2003 | $2,966.58 | 2.93% |
| 2004 | $3,046.08 | 2.68% |
| 2005 | $3,137.24 | 2.99% |
| 2006 | $3,249.17 | 3.57% |
| 2007 | $3,387.55 | 4.26% |
| 2008 | $3,511.58 | 3.66% |
| 2009 | $3,591.55 | 2.28% |
| 2010 | $3,599.83 | 0.23% |
| 2011 | $3,661.22 | 1.71% |
| 2012 | $3,758.35 | 2.65% |
| 2013 | $3,864.56 | 2.83% |
| 2014 | $3,986.35 | 3.15% |
| 2015 | $4,128.82 | 3.57% |
| 2016 | $4,284.55 | 3.77% |
| 2017 | $4,447.98 | 3.81% |
| 2018 | $4,608.88 | 3.62% |
| 2019 | $4,779.71 | 3.71% |
| 2020 | $4,929.03 | 3.12% |
| 2021 | $5,039.70 | 2.25% |
| 2022 | $5,343.76 | 6.03% |
| 2023 | $5,768.77 | 7.95% |
| 2024 | $6,042.29 | 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 |