There are few signs that rents will get cheaper in 2018.
Renters in America spent a record amount of money on housing in 2017.
They paid $485.6 billion to landlords, about 1% more than they did in 2016, according to Zillow. This was the slowest pace in recent years because more renters transitioned into homeownership.
But tight supply and strong demand from buyers are likely to keep the cost of housing on the rise in 2018. "Despite recent changes to federal tax laws that have historically made homeownership financially attractive, the long-term dynamics pushing up home values and rents are unlikely to change significantly in 2018," said Aaron Terrazas, a senior economist at Zillow, in a release on Thursday.
The total value of America's housing market rose this year to $31.8 trillion. It was a 6.5% increase and the fastest pace in four years.
Here are the cities where rents increased the most in 2017, ranked in ascending order:
17. Indianapolis, Indiana
Total rent paid: $2.4 billion
Annual change in rent paid: 2%
16. Boston, Massachusetts
Total rent paid: $10.7 billion
Annual change in rent paid: 2.4%
15. Dallas-Fort Worth, Texas
Total rent paid: $11.8 billion
Annual change in rent paid: 2.4%
14. St. Louis, Missouri
Total rent paid: $3.1 billion
Annual change in rent paid: 2.7%
13. Kansas City, Missouri
Total rent paid: $2.7 billion
Annual change in rent paid: 3.2%
12. Atlanta, Georgia
Total rent paid: $8.9 billion
Annual change in rent paid: 3.3%
11. Los-Angeles-Long Beach-Anaheim, California
Total rent paid: $38.6 billion
Annual change in rent paid: 3.6%
10. Cincinnati, Ohio
Total rent paid: $2.4 billion
Annual change in rent paid: 4%
9. Tampa, Florida
Total rent paid: $5 billion
Annual change in rent paid: 4.2%
8. San Diego, California
Total rent paid: $9.6 billion
Annual change in rent paid: 4.3%
7. Sacramento, California
Total rent paid: $4.4 billion
Annual change in rent paid: 4.6%
6. Phoenix, Arizona
Total rent paid: $7.1 billion
Annual change in rent paid: 4.7%
5. Seattle, Washington
Total rent paid: $9.4 billion
Annual change in rent paid: 5.6%
4. Portland, Oregon
Total rent paid: $4.8 billion
Annual change in rent paid: 6.1%
3. Charlotte, North Carolina
Total rent paid: $3.3 billion
Annual change in rent paid: 7.3%
2. Minneapolis-St Paul, Minnesota
Total rent paid: $5.2 billion
Annual change in rent paid: 7.6%
1. Las Vegas, Nevada
Total rent paid: $4.2 billion
Annual change in rent paid: 7.8%