Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Pennsylvania
Annual, Not Seasonally Adjusted
PARERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103,191.00
Year-over-Year Change
9.61%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the annual growth rate of real personal rent expenditures in the U.S. This metric provides insight into household spending patterns and inflationary pressures.
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 data series tracks changes in the amount households spend on rental housing, a key component of the consumer price index. It is used by economists and policymakers to assess consumer demand, inflation, and the broader state of the housing market.
Methodology
The data is collected through the U.S. Bureau of Economic Analysis' Personal Consumption Expenditures survey.
Historical Context
Trends in personal rent expenditures are closely monitored by the Federal Reserve and other institutions for their implications on monetary and housing policy.
Key Facts
- Rent is a major component of the Consumer Price Index (CPI).
- Annual rent growth reached a multi-decade high of over 8% in 2022.
- Rising rents contributed significantly to overall consumer price inflation.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the year-over-year growth rate in real personal rent expenditures in the United States.
Q: Why is this trend relevant for users or analysts?
A: Rent is a major part of consumer spending and a key driver of inflation, so this metric provides important insights into household budgets and the overall state of the economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Economic Analysis' Personal Consumption Expenditures survey.
Q: How is this trend used in economic policy?
A: Trends in personal rent expenditures are closely monitored by the Federal Reserve and other institutions for their implications on monetary and housing policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (PARERENTLEARGSP), retrieved from FRED.