Rent price inflation, 2003→2023

Rent Inflation Calculator

Prices for Rent, 2003-2023 ($1,250)

According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence were 94.46% higher in 2023 versus 2003 (a $1,180.72 difference in value).

Between 2003 and 2023:Rent experienced an average inflation rate of 3.38% per year. This rate of change indicates significant inflation. In other words, rent costing $1,250 in the year 2003 would cost $2,430.72 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.56% during this same period, inflation for rent was higher.

In the year 2003: Pricing changed by 2.93%, which is below the average yearly change for rent during the 2003-2023 time period. Compared to inflation for all items in 2003 (2.27%), inflation for rent was higher.

Price Inflation for Rent of primary residence since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1921 (18.02%), 1920 (16.16%), and 1933 (-14.15%).

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Buying power of $1,250.00 since 2003

Below are calculations of equivalent buying power for Rent, over time, for $1,250 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2003	$1,250.00	2.93%
2004	$1,283.50	2.68%
2005	$1,321.92	2.99%
2006	$1,369.06	3.57%
2007	$1,427.37	4.26%
2008	$1,479.63	3.66%
2009	$1,513.33	2.28%
2010	$1,516.82	0.23%
2011	$1,542.69	1.71%
2012	$1,583.61	2.65%
2013	$1,628.36	2.83%
2014	$1,679.68	3.15%
2015	$1,739.71	3.57%
2016	$1,805.33	3.77%
2017	$1,874.19	3.81%
2018	$1,941.99	3.62%
2019	$2,013.97	3.71%
2020	$2,076.89	3.12%
2021	$2,123.52	2.25%
2022	$2,251.64	6.03%
2023	$2,430.72	7.95%
2024	$2,554.90	5.11%
2025	$2,646.78	3.60%
2026	$2,687.97	1.56%*

* 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	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	2025	2026
CPI	21.000	21.017	21.217	21.367	21.083	22.692	26.358	31.108	32.350	33.142	34.350	34.592	34.308	33.792	33.033	32.242	31.458	30.025	27.325	23.458	21.527	21.369	21.833	22.800	23.642	23.700	23.733	24.150	24.692	24.692	24.750	24.808	24.958	25.792	27.500	28.692	29.758	30.925	32.217	33.908	35.117	35.608	36.258	36.958	37.642	38.175	38.742	39.233	39.717	40.117	40.533	40.933	41.492	42.242	43.250	44.650	46.500	48.650	50.325	52.525	55.150	58.000	61.142	64.817	69.275	74.342	80.917	87.942	94.625	100.092	105.292	111.758	118.275	123.150	127.842	132.808	138.408	143.317	146.908	150.342	154.008	157.775	161.950	166.667	172.075	177.483	183.925	192.117	199.667	205.517	211.025	217.342	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	420.060	435.166	441.938

Adjust rent prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2003* 2003 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Rent of primary residence was 205.517 in the year 2003 and 399.643 in 2023:

399.643 / 205.517* $1,250 = $2,430.72

Therefore, according to U.S. Bureau of Labor Statistics, $1,250 in 2003 has the same "purchasing power" as $2,430.72 in 2023 (in the CPI category of Rent of primary residence).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Rent of primary residence in 1914. In addition to rent, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.