How Much Do US Renters Spend On Rent Each Year? Over Half A Trillion

Hotpads.com just completed its estimate of how much United States renters paid for rent in 2018: $504,400,000,000. That is $12.6 billion more than 2017. Some interesting stats:

• New York City renters pay more than 10% of the entire country's total rent ($55.6 billion)
• Seattle metro area rents totalled $9.8 billion and recently grew 4% annually
• Nationwide went appreciation was up 3 percent from a year ago
• The rate of annual rent appreciation has been slowing gradually nationwide
• Highest rent appreciation last year was seen in the southern cities of Orlando, Las Vegas, and Phoenix