Rental costs shape household budgets across the United States, affecting renters in every region. This page breaks down recent month-by-month changes in the U.S. CPI for rent—so you can see how affordability signals have shifted from late 2023 through early 2024. Use the figures and context provided here to understand what the trend may mean for rental demand and long-term planning.
Key Takeaways
- 1.77% year-over-year increase in the U.S. consumer price index (CPI) for rent in the 12 months ending February 2024
- 1.4% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2024
- 3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2023
U.S. rent inflation has eased but stayed positive, with yearly increases between 1.4% and 3.7% through early 2024.
Related reading
01 · Category
Industry Trends30 stats
01
1.77% year-over-year increase in the U.S. consumer price index (CPI) for rent in the 12 months ending February 2024
02
1.4% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2024
03
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2023
04
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2023
05
2.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2023
06
2.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2023
07
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending August 2023
08
2.5% year-over-year increase in the U.S. CPI for rent in the 12 months ending July 2023
09
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending June 2023
10
2.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending May 2023
11
3.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending April 2023
12
3.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending March 2023
13
3.1% year-over-year increase in the U.S. CPI for rent in the 12 months ending February 2023
14
3.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2023
15
4.3% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2022
16
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2022
17
3.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2022
18
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2022
19
3.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending August 2022
20
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending July 2022
21
4.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending June 2022
22
4.5% year-over-year increase in the U.S. CPI for rent in the 12 months ending May 2022
23
4.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending April 2022
24
4.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending March 2022
25
4.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending February 2022
26
4.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2022
27
4.4% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2021
28
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2021
29
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2021
30
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2021
Interpretation
Industry Trends Interpretation
Under the Industry Trends lens for Rental, rent inflation in the U.S. is moderating as the year over year CPI increase falls from 3.7% in December 2023 to 1.4% in January 2024 and 1.77% in February 2024.
More related reading
report visual · Projection
U.S. Rent CPI Inflation Slows Over Time
Rent CPI inflation (year-over-year) peaks in 2022 and then declines through 2023; the latest reading is lower than the prior year, indicating a cooling trend led by the 2022 value.
2.2 year-over-year percent change
Start
+43.02%
CAGR · 2y
4.5 year-over-year percent change
Projected
20222024
source-verifiedbls.gov2022
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Julian Richter. (2026, February 13). Rental Statistics. Gitnux. https://gitnux.org/rental-statistics
MLA
Julian Richter. "Rental Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/rental-statistics.
Chicago
Julian Richter. 2026. "Rental Statistics." Gitnux. https://gitnux.org/rental-statistics.