The median gross rent includes rent plus the estimated cost of utilities if they are paid by the tenant. The numbers are taken from the US Census and are nominal numbers. Gross rent for 2020 is not available yet but looking at the median rent across the country we’ll probably see an increase.
The largest increase of 125% in gross rent is from 1970 to 1980. That decade was characterized by the highest inflation, weak economic growth, and high unemployment. Triggered initially by the easy-money policy by the US Central bank, made worse later by the efforts to curb the inflation which had reached 14% by 1980. It’s interesting to note that gross rents and housing prices continued to increase through all the recessions.
| Year | Gross Rent | Percentage Increase Every Decade |
|---|---|---|
| 1940 | $ 27 | |
| 1950 | $ 42 | 56% |
| 1960 | $ 71 | 69% |
| 1970 | $ 108 | 52% |
| 1980 | $ 243 | 125% |
| 1990 | $ 447 | 84% |
| 2000 | $ 602 | 35% |
| 2010 | $855 | 47% |
| 2019 | $1097 | 28% |
