Are mortgage payments included in the index?

Not in the sense of an investment or principal repayment; the index targets shelter services utilized by households.

How is owner-occupied housing reflected?

The cost of use is typically represented by owners' equivalent rent, rather than taking the purchase price of the home directly.

Why do shelter costs usually change slowly?

Rents for many households are only updated when contracts change, so new impacts diffuse into the index over time.

US Shelter Consumer Price Index

Name: US Shelter Consumer Price Index
Creator: FRED (Federal Reserve Bank of St. Louis)
License: https://creativecommons.org/licenses/by/4.0/

US Shelter Consumer Price Index stood at 431.91 in Sep 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the CPI table (Value · Monthly), with a complete series running from Jan 1953 to Sep 2026. The complete series with an interactive chart, free to download.

Source: FRED (Federal Reserve Bank of St. Louis)Last updated: Oct 14, 2026, 22:31 UTCCurated by Bui Thanh Phuc

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This indicator in the CPI table

Indicator	09-2026	08-2026	07-2026	06-2026	05-2026	04-2026	03-2026	02-2026	01-2026	12-2025
Shelter3	431.91	430.23	429.1	428.5	428	426.64	424.07	422.94	421.97	421.04
Rent of primary residence	450.43	449.32	448.54	447.4	446.73	445.12	442.71	441.87	441.29	440.19
Lodging away from home	194.19	190.32	185.93	191.2	195.75	194.93	190.29	189.83	188.02	188.2

Understanding US Shelter Consumer Price Index

The cost for households to utilize a dwelling serves as the core subject of the index, primarily represented through primary residence rents, owners' equivalent rent of residences, and lodging away from home under classification structures. It excludes home purchase prices, principal repayments, or total real estate investment costs. Unlike the broader housing group, this indicator concentrates on shelter services and does not represent all goods, utilities, or home operation services. Primary rent and lodging away from home branches are merely specific components of this basket.

Lag is the most critical factor in interpretation: rents in samples typically change only when contracts are adjusted, meaning the index can react after market-advertised rental rates. Year-on-year comparisons are appropriate for identifying persistent pressures, while monthly movements should be viewed alongside multi-month trends rather than in isolation. Lodging away from home exhibits higher seasonality and volatility, but differing weights mean impacts on the total group are unequal. Recent figures may be revised during seasonal adjustments or sample updates.

Frequently asked questions

Are mortgage payments included in the index?: Not in the sense of an investment or principal repayment; the index targets shelter services utilized by households.
How is owner-occupied housing reflected?: The cost of use is typically represented by owners' equivalent rent, rather than taking the purchase price of the home directly.
Why do shelter costs usually change slowly?: Rents for many households are only updated when contracts change, so new impacts diffuse into the index over time.