Cost of rent in the US rosed 7.12% year-over-year in November 2022.
Shelter inflation increased by an average of 4.13% a month in the last 12 months.
From October to November, the cost of rent increased by 0.58%.
What is shelter inflation?
Shelter inflation is the increase in the price of home and shelter paid by consumers.
Shelter inflation in the past 12 months
In the past 12 months shelter inflation peaked at 7.12% in November 2022.
Date
Shelter inflation
Change from prior month
November 2022
7.12%
0.58%
October 2022
6.92%
0.66%
September 2022
6.59%
0.68%
August 2022
6.24%
0.66%
July 2022
5.69%
0.56%
June 2022
5.61%
0.68%
May 2022
5.45%
0.63%
April 2022
5.14%
0.51%
March 2022
5.00%
0.58%
February 2022
4.74%
0.58%
January 2022
4.36%
0.40%
December 2021
4.13%
0.37%
What does this mean?
Cost of rent on average has gone up 7.12% from November 2021 to 2022. This means for example, rent which costed $2000 in November 2021 would cost around $2142.34 today, an increase of $142.34 year-over-year.
Are you keeping up with cost of rent?
If you were making $25/hour in November 2021, you would need to be making $26.78/hour today to keep up with cost of rent.
What shelter inflation looks like
The effect of shelter inflation on the cost of rent, assuming a base price of $2,000.00 in November 2021.
Date
Cost of rent
Change from prior month
December 2021
$2,007.40
+
$7.40
January 2022
$2,015.43
+
$8.03
February 2022
$2,027.12
+
$11.69
March 2022
$2,038.88
+
$11.76
April 2022
$2,049.27
+
$10.40
May 2022
$2,062.19
+
$12.91
June 2022
$2,076.21
+
$14.02
July 2022
$2,087.83
+
$11.63
August 2022
$2,101.61
+
$13.78
September 2022
$2,115.91
+
$14.29
October 2022
$2,129.87
+
$13.96
November 2022
$2,142.22
+
$12.35
Impact of inflation on the cost of goods and services
The change in cost of $100 worth of goods and services over the last 12 months.
Jing Jun Ma is a tech and data expert with more than a decade of experience in digital marketing and programming. He wrangles data to make it useful for consumers facing a decision.
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