Renters Paid $441 Billion in 2014

Dec. 30, 2014

A new report from Zillow found that U.S. renters paid $441 billion in rent in 2014, up from $420.4 billion the previous year.

Rents increased the most in San Jose, California, where prices rose an average of $197 per month in 2014. Rents are rising at twice the pace of income growth, and renters paid $26 more per month in 2014 than they did in 2013. Other areas where rent rose at a higher rate were Denver, Pittsburgh, and San Francisco.