The graph below is the national rent index (blue) as measured by the Consumer Price Index and the home price (red) is the national median price from NAR.

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Both data, for easy comparison, are set at 100 for the year 1980. Each local market, of course, will diverge from the national trend.

Apartment rents have steadily risen and are likely to accelerate a bit this year.

Home values, meanwhile, have undergone wild swings and now appear to be a better buy compared to renting.