According to the U.S. Bureau of Labor Statistics, prices for owners' equivalent rent of residences were 66.22% higher in 2018 versus 1998.
Between 1998 and 2018: Owners' equivalent rent of residences experienced an average inflation rate of 2.57% per year. This rate of change indicates significant inflation. In other words, owners' equivalent rent of residences costing $20 in the year 1998 would cost $33.24 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.16% during this same period, inflation for owners' equivalent rent of residences was higher.
In the year 1998: Pricing changed by 3.25%, above the average yearly change for owners' equivalent rent of residences during the 1998-2018 time period. Compared to inflation for all items in 1998 (1.55%), 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: