Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Connecticut
Annual, Not Seasonally Adjusted
CTRERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,993.10
Year-over-Year Change
10.67%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted data series measures average gross rent for rental housing in the United States. This metric is crucial for economists and policymakers to understand housing affordability and cost-of-living trends.
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 the average gross rent paid by tenants, including both contract rent and the estimated cost of utilities. It provides important insights into housing costs and affordability for individuals and families across the country.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Rental costs are a key input for economic policy and market analysis related to inflation, consumer spending, and regional economic conditions.
Key Facts
- Average gross rent in the U.S. was $1,194 in 2021.
- Rental costs have increased by 23% over the past decade.
- Housing affordability is a major concern for many American families.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average gross rent paid by tenants in the United States, including both contract rent and estimated utility costs.
Q: Why is this trend relevant for users or analysts?
A: Rental costs are a crucial component of the cost of living and a key input for economic policy and market analysis related to inflation, consumer spending, and regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Rental cost data is used by economists, policymakers, and market analysts to understand housing affordability and cost-of-living trends, which inform decisions related to inflation, consumer spending, and regional economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not fully capture rapid changes in local rental markets.
Related Trends
Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Connecticut
CTTRANSUTILQGSP
Wholesale Trade Earnings in Connecticut
CTEWHO
All Employees: Private Service Providing in Connecticut
SMU09000000800000001
Industrial Carbon Dioxide Emissions, Natural Gas (Pipeline) for Connecticut
EMISSCO2VNGICBCTA
Average Weekly Earnings of All Employees: Leisure and Hospitality in Connecticut
SMU09000007000000011A
90% Confidence Interval Lower Bound of Estimate of Median Household Income for Connecticut
MHICILBCT09000A052NCEN
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (CTRERENTLEARGSP), retrieved from FRED.