U.S. Renters Spent $504 Billion on Housing in 2018
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: PR Newswire
SAN FRANCISCO, Dec. 21, 2018 /PRNewswire/ -- U.S. households spent a record amount on rent in 2018 despite a decrease in the number of households who rent their home, according to a new HotPads® analysis. Overall, the U.S. spent $504.4 billion on rent in 2018 – more than the entire GDP of Belgium ($494.7 billion)i and three times the current net worth of Amazon CEO Jeff Bezos ($124 billion)ii.Renters spent $12.6 billion more paying their rent in 2018 than they did in 2017. The current median rent is $1,475, up 3 percent from a year ago. Throughout 2018, rents rose about 3 percent year over year – continuing a gradual slowdown in rent appreciation that began in mid-2016.However, the number of renter households in the U.S. decreased slightly in 2018. There were about 43.2 million renter households across the country this year – nearly 100,000 fewer than in 2017.A gradual slowdown in rent appreciation has allowed renters looking to purchase homes greater ability to save for a down paymen
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