rental price index

The rental price index is a measure that tracks changes in the cost of renting residential properties over time. It reflects how rental prices increase or decrease across a specific area or market segment. By comparing current rental rates to past periods, the index helps landlords, tenants, and policymakers understand trends in the rental market, gauge affordability, and make informed decisions. Essentially, it serves as a key indicator of rental market performance, similar to how a stock market index reflects overall market movements.