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Owner’s equivalent rent

The owner’s equivalent rent (OER) is the amount of rent a homeowner would pay, if s/he were renting rather than owning.

From Investopedia:

“The amount of rent that could be paid to substitute a currently owned house for an equivalent rental property. Owners' equivalent rent (OER) is a dollar amount that is published by the U.S. Bureau of Labor Statistics to measure the change in implicit rent, which is the amount a homeowner would pay to rent or would earn from renting his or her home in a competitive market.”