U.S. Renters Paid a Record High $485.6 Billion in 2017: Zillow

(Bloomberg) -- The total value of all homes in the United States rose 6.5 percent in 2017 to $31.8 trillion, according to Zillow. Renters paid a record $485.6 billion this year.

The Los Angeles and New York markets each account for more than 8 percent of the overall value of U.S. housing stock, worth $2.7 trillion and $2.6 trillion, respectively. The San Francisco market follows at $1.4 trillion and the Washington D.C. housing market is valued at just under $1 trillion.

Metropolitan Area

Total Value of
Housing Stock

Change in
Total Value

Total Rent

Change in
Rent Paid

United States$31.8 trillion6.5%$485.6 billion1.0%
New York/Northern
New Jersey
$2.6 trillion7.9%$54 billion0.3%
Los Angeles-Long Beach-
Anaheim, CA
$2.7 trillion5.7%$38.6 billion3.6%
Chicago, IL$821.3 billion5.8%$15.2 billion0.1%
Dallas-Fort Worth, TX$517.8 billion12.3%$11.8 billion2.4%
Philadelphia, PA$617.6 billion4.4%$8.5 billion-1.2%
Houston, TX$393.4 billion5.4%$10.3 billion-2.3%
Washington, DC$996.7 billion1.8%$14.0 billion-0.6%
Miami-Fort Lauderdale,
$864.2 billion4.7%$11.9 billion-1.6%
Atlanta, GA$443.8 billion6.6%$8.9 billion3.3%
Boston, MA$719.9 billion6.0%$10.7 billion2.4%
San Francisco, CA$1.4 trillion7.6%$15.8 billion-0.1%
Detroit, MI$315.5 billion8.6%$4.8 billion0.4%
Riverside, CA$470.5 billion6.4%$6.9 billion1.4%
Phoenix, AZ$473 billion6.3%$7.1 billion4.7%
Seattle, WA$645.6 billion11.7%$9.4 billion5.6%
Minneapolis-St Paul,
$350 billion4.6%$5.2 billion7.6%
San Diego, CA$632.7 billion5.6%$9.6 billion4.3%
St. Louis, MO$195.7 billion1.3%$3.1 billion2.7%
Tampa, FL$287.2 billion11.3%$5 billion4.2%
Baltimore, MD$294.3 billion2.1%$4.5 billion-1.5%
Denver, CO$405.4 billion6.1%$5.7 billion-0.8%
Pittsburgh, PA$154.8 billion5.3%$2.3 million-4.4%
Portland, OR$301.5 billion4.8%$4.8 billion6.1%
Charlotte, NC$206 billion10.0%$3.3 billion7.3%
Sacramento, CA$292.2 billion7.8%$4.4 billion4.6%
San Antonio, TX$125.4 billion7.1%$2.9 billion0.2%
Orlando, FL$199.6 billion4.9%N/AN/A
Cincinnati, OH$137.8 billion6.5%$2.4 billion4.0%
Cleveland, OH$123.8 billion6.1%$2.4 billion-0.8%
Kansas City, MO$140.3 billion7.8%$2.7 billion3.2%
Las Vegas, NV$196.9 billion11.0%$4.2 billion7.8%
Columbus, OH$152.3 billion15.1%$2.7 billion1.5%
Indianapolis, IN$119.2 billion6.0%$2.4 billion2.0%
San Jose, CA$726.6 billion13.5%$6.3 billion-1.0%
Austin, TX$174.7 billion7.8%$3.9 billion-2.1%

©2017 Bloomberg L.P.