For the year 2017, Americans spent a total of $485.6 billion on rent, up by $4.9 million from this time last year. Zillow reports that renters in the nation’s capital spent $14 billion, 0.6 percent lower compared to last year. In comparison, San Francisco renters collectively paid $15.8 billion, while those in the New York/Northern New Jersey area paid $54 billion this past year.
If totaling the value of every U.S. home in 2017, that would amount to $31.8 trillion, a number which has grown over the past year by $1.95 trillion. Meanwhile, D.C.’s total value of housing stock is now $996.7 billion, up from last year by 1.8 percent.
The metropolitan areas in the nation with the highest value of housing stock are the Los Angeles-Long Beach-Anaheim, California area ($2.7 trillion) and New York/Northern New Jersey area ($2.6 trillion), according to Zillow.
The U.S. city with the fastest home value growth this year was Columbus, Ohio, whose growth totaled $15.1 percent. By the end of 2017, this Ohio city’s total value of housing stock was $152.3 billion.
For more end-of-the-year data, be sure to head to Zillow.
• Total Value of All U.S. Homes: $31.8 Trillion. How Big Is That? [Zillow]