Owners' Equivalent Rent (OER)

Owners' equivalent rent (OER) is a measure of the rental value of owner-occupied housing. It is calculated by taking the median gross rent for all occupied housing units and multiplying it by the owner-occupancy rate. The OER is used to compare the cost of housing for renters and owners.

The OER is important for a number of reasons. First, it can be used to compare the cost of housing in different areas. For example, if the OER is higher in one area than another, it means that housing is more expensive to own in that area. Second, the OER can be used to track changes in the cost of housing over time. This information can be used to make decisions about whether to buy or rent a home.

The OER is not without its limitations. First, it does not take into account the costs of owning a home, such as property taxes and maintenance costs. Second, it does not take into account the benefits of owning a home, such as equity buildup and tax deductions.

Despite its limitations, the OER is a useful tool for comparing the cost of housing for renters and owners. It can be used to make decisions about whether to buy or rent a home, and it can be used to track changes in the cost of housing over time.

Here are some additional details about the OER:

* The OER is calculated by the Bureau of Labor Statistics (BLS).
* The OER is published quarterly.
* The OER is available for the United States as a whole, as well as for individual states and metropolitan areas.
* The OER can be used to compare the cost of housing in different areas and to track changes in the cost of housing over time.