5 Biggest Industries in the US Heading into 2023

1. Real estate, rental and leasing

Average gross domestic product of the industry in 2021 (in billions): 3,061.7

Gross domestic product of the industry in Q1 2022 (in billions): 3,102.1

Easily topping the list of the 13 biggest industries in the U.S. heading into 2023, with a GDP more than $1 trillion higher than the runner-up, is the real estate, rental and leasing industry. The rental estate industry in the United States has boomed in the past few years with prices increasing at an astronomical rate, pricing out a lot of people from ever owning a home. According to CEIC, house prices in the U.S. increased 12.2% YoY in September 2022, while the YoY growth rate in September 21 was already 18.7%.

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