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Rent payments up US$20.6b in US as home ownership falls

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San Francisco's leasing costs climbed 11 per cent to US$1,598. Renter-occupied homes in the US grew by 1.2 million, while owner-occupied households fell about 657,000 in the 12 months till September.

New York

US renters paid US$441 billion for apartments and houses this year, a US$20.6 billion increase, as fewer Americans owned their homes and landlords with tight inventories raised leasing charges, Zillow Inc said today.

The number of rental households grew by 2 per cent, or