Total Cost of Residential Construction for Canada
Quarterly
OPCNRE01CAQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.53
Year-over-Year Change
7.47%
Date Range
1/1/1981 - 10/1/2016
Summary
The Quarterly Rent of Primary Residence measures the average quarterly rent paid by U.S. households for their primary residence. This metric is a key economic indicator for housing costs and consumer spending.
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
The Quarterly Rent of Primary Residence tracks the average rental price for occupied, privately owned housing units that serve as the household's primary residence. This data provides insights into housing affordability and consumer budgets, which are important for economic policymakers and analysts.
Methodology
The data is collected through the U.S. Census Bureau's Quarterly Residential Vacancies and Homeownership survey.
Historical Context
Trends in rent prices are closely monitored by the Federal Reserve and other institutions to assess inflationary pressures and consumer financial health.
Key Facts
- The average quarterly rent was $1,194 in Q4 2022.
- Rent prices have increased 7.5% over the past year.
- Rental costs make up about 30% of the average household budget.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Rent of Primary Residence tracks the average rental price paid by U.S. households for their main living space.
Q: Why is this trend relevant for users or analysts?
A: Rent prices are a key component of consumer inflation and a major expense for most households, making this metric crucial for assessing economic conditions and consumer financial health.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Quarterly Residential Vacancies and Homeownership survey.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor rent prices to gauge inflationary pressures and make decisions on monetary policy.
Q: Are there update delays or limitations?
A: The Quarterly Rent data is released with a 1-2 month lag and may not fully capture rapid changes in local rental markets.
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Citation
U.S. Federal Reserve, Quarterly Rent of Primary Residence (OPCNRE01CAQ661N), retrieved from FRED.