High-Income Americans Are Fastest Growing Renter Segment

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A new report from RENTCafe says that high-income earners are the fastest growing renter segment in America.  Citing data from the U.S. Census Bureau, they say the annual increase in the number of high-income renter-occupied households (those earning $150k+) has been consistently growing faster than owner-occupied households.  In fact, between 2007 to 2017 those rich enough to own, but preferring to rent, grew by 175% compared 67% in homeowners in the same income bracket.  Indeed…

“The attitude toward renting at any income level is changing. With renters becoming the majority population in many U.S. cities, the spike in the national population of wealthy renter households could mean a change in attitude toward an American Dream that no longer belongs to this generation of renters.”

Click here to read the full report at RENTcafe.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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