In any given year, some 34 million US households make their homes in rental housing. Like the general population, renters are highly diverse in demographic and income terms, as well as in their reasons for residing where they do. Equally diverse is the nation's $2.7 trillion rental stock, as is the mix of property owners, investors, builders, developers and managers involved in this vital sector of the national economy. Because of the fundamental importance of the rental sector to quality of life for fully a third of American households, reexamining these federal, state and local policies is an essential step in ensuring that every individual is able to live in a decent and affordable home.