US Renters Spent Over $485 Billion For Housing in 2017

Renters in America spent a record amount of money on housing in 2017. They paid $485.6 billion to landlords, about 1% more than they did in 2016. This was the slowest pace in recent years because more renters transitioned into homeownership. But tight supply and strong demand from buyers are likely to keep the cost of housing on the rise in 2018.