Around 44.1 million households in the United States are renters, with these households paying around $485 billion in rent each year, according to reporting from The Zebra. This means over one-third of households in the U.S. are renters. Of these, more than 22.4 million households spend over 30% of their income on rent, with 12.1 million spending more than 50%.
On top of rent, they must also consider the expense of renters coverage. Renters insurance premiums in the United States average $148 annually, or about $12 each month, according to NerdWallet.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
