Rents continue to rise across the U.S., and according to MarketWatch, Americans paid $441 billion in rent in 2014.
Rents in San Francisco grew by 14 percent in 2014 as landlords increased prices and saw fewer vacancies. Other cities where rents rose at a higher rate included the Miami-Fort Lauderdale area (8 percent), and Chicago, Houston, and Boston (7 percent). The average monthly rent across the U.S. rose by 3 percent in 2014 as more people turn to renting because they don’t want to or can’t afford to purchase a home of their own.
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