According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 138.07% higher in 2018 versus 1988.
Between 1988 and 2018: Owners' equivalent rent of residences experienced an average inflation rate of 2.93% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 1988 would cost $47.61 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 1988: Pricing changed by 5.05%, above the average yearly change for owners' equivalent rent of residences during the 1988-2018 time period. Compared to inflation for all items in 1988 (4.08%), price inflation for owners' equivalent rent of residences was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Owners' equivalent rent of residences: