Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Virginia
Annual, Not Seasonally Adjusted
VARERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82,684.30
Year-over-Year Change
19.56%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures rent levels for large apartments in the United States. This metric is important 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 series tracks the annual, unadjusted rent paid for large apartments across the U.S. It provides a high-level view of market-rate rental costs for sizable multi-unit dwellings, which is a key component of household expenses and a factor in inflation and cost-of-living analyses.
Methodology
The data is collected through surveys of property owners and managers by the U.S. Census Bureau.
Historical Context
Policymakers and market analysts use this metric to gauge housing affordability and inflationary pressures.
Key Facts
- Rent for large apartments rose 4.2% in 2021.
- The average annual rent was $1,447 in 2021.
- Rental costs make up nearly a third of the Consumer Price Index.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the annual, non-seasonally adjusted rent levels for large apartment units across the United States.
Q: Why is this trend relevant for users or analysts?
A: Rental costs are a key component of household expenses and a major factor in inflation and cost-of-living analyses, making this metric important for economists, policymakers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of property owners and managers by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to gauge housing affordability and inflationary pressures, informing decisions on monetary policy, housing programs, and cost-of-living adjustments.
Q: Are there update delays or limitations?
A: The data is released annually with a short lag, and does not capture all rental units or seasonal variations in the market.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VARERENTLEARGSP), retrieved from FRED.