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 2024https://www.bls.gov/news.release/cpi.t01.htm
02
1.4% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2024https://www.bls.gov/news.release/cpi.t01.htm
03
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2023https://www.bls.gov/news.release/cpi.t01.htm
04
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2023https://www.bls.gov/news.release/cpi.t01.htm
05
2.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2023https://www.bls.gov/news.release/cpi.t01.htm
06
2.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2023https://www.bls.gov/news.release/cpi.t01.htm
07
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending August 2023https://www.bls.gov/news.release/cpi.t01.htm
08
2.5% year-over-year increase in the U.S. CPI for rent in the 12 months ending July 2023https://www.bls.gov/news.release/cpi.t01.htm
09
2.6% year-over-year increase in the U.S. CPI for rent in the 12 months ending June 2023https://www.bls.gov/news.release/cpi.t01.htm
10
2.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending May 2023https://www.bls.gov/news.release/cpi.t01.htm
11
3.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending April 2023https://www.bls.gov/news.release/cpi.t01.htm
12
3.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending March 2023https://www.bls.gov/news.release/cpi.t01.htm
13
3.1% year-over-year increase in the U.S. CPI for rent in the 12 months ending February 2023https://www.bls.gov/news.release/cpi.t01.htm
14
3.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2023https://www.bls.gov/news.release/cpi.t01.htm
15
4.3% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2022https://www.bls.gov/news.release/cpi.t01.htm
16
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2022https://www.bls.gov/news.release/cpi.t01.htm
17
3.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2022https://www.bls.gov/news.release/cpi.t01.htm
18
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2022https://www.bls.gov/news.release/cpi.t01.htm
19
3.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending August 2022https://www.bls.gov/news.release/cpi.t01.htm
20
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending July 2022https://www.bls.gov/news.release/cpi.t01.htm
21
4.2% year-over-year increase in the U.S. CPI for rent in the 12 months ending June 2022https://www.bls.gov/news.release/cpi.t01.htm
22
4.5% year-over-year increase in the U.S. CPI for rent in the 12 months ending May 2022https://www.bls.gov/news.release/cpi.t01.htm
23
4.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending April 2022https://www.bls.gov/news.release/cpi.t01.htm
24
4.8% year-over-year increase in the U.S. CPI for rent in the 12 months ending March 2022https://www.bls.gov/news.release/cpi.t01.htm
25
4.9% year-over-year increase in the U.S. CPI for rent in the 12 months ending February 2022https://www.bls.gov/news.release/cpi.t01.htm
26
4.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending January 2022https://www.bls.gov/news.release/cpi.t01.htm
27
4.4% year-over-year increase in the U.S. CPI for rent in the 12 months ending December 2021https://www.bls.gov/news.release/cpi.t01.htm
28
4.0% year-over-year increase in the U.S. CPI for rent in the 12 months ending November 2021https://www.bls.gov/news.release/cpi.t01.htm
29
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending October 2021https://www.bls.gov/news.release/cpi.t01.htm
30
3.7% year-over-year increase in the U.S. CPI for rent in the 12 months ending September 2021https://www.bls.gov/news.release/cpi.t01.htm
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.