According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence were 11.56% higher in 2019 versus 2016 (a $115.57 difference in value).
Between 2016 and 2019: Rent experienced an average inflation rate of 3.71% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 2016 would cost $1,115.57 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 2.13% during this same period, inflation for rent was higher.
In the year 2016: Pricing changed by 3.77%, which is above the average yearly change for rent during the 2016-2019 time period. Compared to inflation for all items in 2016 (1.26%), inflation for rent was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Rent of primary residence:
Below are calculations of equivalent buying power for Rent, over time, for $1000 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|