According to the U.S. Bureau of Labor Statistics, prices for housing are 21.24% higher in 2022 versus 2016 (a $0.21 difference in value).
Between 2016 and 2022: Housing experienced an average inflation rate of 3.26% per year. This rate of change indicates significant inflation. In other words, housing costing $1 in the year 2016 would cost $1.21 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.17% during this same period, inflation for housing was higher.
In the year 2016: Pricing changed by 2.48%, which is below the average yearly change for housing during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for housing was higher.
Below are calculations of equivalent buying power for Housing, over time, for $1 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Housing: