New Yorkers spent more than $50 billion on rent this year. In total, there are currently 3.4 million rental households in New York City, which is an increase of some 63,000 units compared to last year.
The trend is in line with the rest of the country. All told, Americans spent $441 billion on rent in 2014. That’s a $20.6 billion bump up from the year before. [more]