Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Alabama
Annual, Not Seasonally Adjusted
ALRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.55
Year-over-Year Change
22.47%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the annualized percent change in the cost of rent for apartments, houses, and similar living spaces in the United States. This metric is closely watched by economists and policymakers to gauge housing affordability and rental market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the year-over-year percent change in the rental component of the Consumer Price Index (CPI), which is a key indicator of inflation. It provides insights into broader housing and cost-of-living trends that are highly relevant for consumers, businesses, and government decision-makers.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on monthly surveys of rental prices.
Historical Context
Rental costs are a crucial input for monetary policy, economic forecasting, and household budgeting decisions.
Key Facts
- Rental prices rose 4.9% in 2022 compared to 2021.
- Rent accounts for over 30% of the Consumer Price Index.
- Rental inflation has outpaced overall inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: This series tracks the year-over-year percent change in the cost of rent for apartments, houses, and similar living spaces in the United States.
Q: Why is this trend relevant for users or analysts?
A: Rental costs are a crucial input for monetary policy, economic forecasting, and household budgeting decisions, making this metric highly relevant for consumers, businesses, and government decision-makers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on monthly surveys of rental prices.
Q: How is this trend used in economic policy?
A: This metric provides insights into broader housing and cost-of-living trends that are used by economists and policymakers to gauge housing affordability and rental market conditions.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag, and may be subject to revisions based on additional information.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ALRERENTLEAQGSP), retrieved from FRED.