South Florida tenants spent $10.5B on rent in 2014

South Florida tenants spent $10.5 billion on rent in 2014, Zillow reported this week.

Nationally, tenants spent $441 billion on rent in 2014, up 4.9 percent from 2013. In the Miami-Fort Lauderdale area, there were 775,000 renter households, an increase of 15,000 from 2013. South Florida tenants spent $10.5 billion in rent in 2014, a 7.7 percent rent change from 2013, according to the data.

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New York and Northern New Jersey area renters topped off the list, spending nearly $50 billion on rent in 2014. Los Angeles tenants were second, spending $34 billion last year. — Katherine Kallergis