{"id":139302,"date":"2025-06-04T00:01:30","date_gmt":"2025-06-04T07:01:30","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=139302"},"modified":"2025-12-09T05:33:07","modified_gmt":"2025-12-09T13:33:07","slug":"millionaire-renters-trends","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","title":{"rendered":"1 in 11 millionaires now rents, Southern metro areas become hotspots for luxury living"},"content":{"rendered":"<p>In a stunning reversal of traditional wealth patterns, millionaire renters have tripled since 2019, outpacing their homeowning counterparts in one of real estate&#8217;s most unexpected trends. While New York and San Francisco remain magnets for affluent tenants, emerging hotspots in Texas and Florida reveal a shift in where America&#8217;s wealthiest households choose to live \u2014 and why many are bypassing homeownership altogether.<\/p>\n<p>Our analysis of IPUMS data shows that the number of households earning $150,000 or more grew by 60% between 2019 and 2023, marking the most significant rise among the traditional income groups. Within the bracket, the number of <strong>renters and homeowners in the $1 million+ income category has surged by 204% and 169%, respectively<\/strong>.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-140000\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/Screenshot-2025-05-15-090104-v4.png\" alt=\"\" width=\"768\" height=\"572\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/Screenshot-2025-05-15-090104-v4.png 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/Screenshot-2025-05-15-090104-v4.png?resize=500,372 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/Screenshot-2025-05-15-090104-v4.png?resize=150,112 150w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<div style=\"margin-bottom: 20px;\">\n<p>Between 2019 and 2023, the number of renter households with an income of $1 million or more grew from 4,500 to 13,700 \u2014 a staggering increase as an additional 9,200 millionaire renters joined the market. During the same period, millionaire homeowners also saw a remarkable rise, climbing from 52,966 to 142,320 households.<\/p>\n<p>While homeowners still account for the lion\u2019s share of millionaires in the residential sector, the much faster growth rate among renters marks an inflection point: <strong>affluent individuals are increasingly drawn to the flexibility and amenity\u2011rich offerings of high\u2011end rental properties.<\/strong><\/p>\n<div id=\"datawrapper-vis-YLW7D\" style=\"min-height: 139px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/YLW7D\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-YLW7D\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/YLW7D\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>This surge in renter millionaires can be traced to multiple factors, including robust stock market gains over the last five years, the expansion of the tech sector, the rise of remote work enabling location flexibility, and <strong>a growing preference for turnkey living solutions over the responsibilities of homeownership<\/strong>. By contrast, millionaire homeowners have continued to benefit from sustained property value appreciation and historically low mortgage rates, fueling both the acquisition of new homes and the accumulation of home equity.<\/p>\n<\/div>\n<h2><strong>Where are millionaires renting and buying now?<\/strong><\/h2>\n<div style=\"margin-bottom: 20px;\">In light of this rise in millionaire renters and homeowners, we&#8217;ve pinpointed the spots these high earners are choosing to call home. So, while <em>traditional<\/em> locations for wealthy renters such as New York and San Francisco are still popular, Southern metro areas are making a name for themselves too. For example, Texas and Florida are seeing a surge in the number of millionaires seeking to enjoy some sun and Southern hospitality. In fact, in Houston and Dallas the number of millionaire renters has increased the most between 2019 and 2023, while in Salt Lake City, UT; Orlando, FL; and Pensacola, FL, the number of millionaire homeowners skyrocketed.<\/div>\n<div id=\"datawrapper-vis-6HztN\" style=\"min-height: 801px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/6HztN\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-6HztN\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/6HztN\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>What&#8217;s more, in addition to these trending hotspots, there are also some less typical markets where high-earning renters and homeowners are springing up in local neighborhoods. Among these new spots, Charleston and Oxnard are proving to be the most appealing to millionaire renters, while homeowners are settling in Portland, ME.<\/p>\n<p><strong>But why are so many high earners choosing to rent in the nation&#8217;s largest cities?<\/strong> Many of today\u2019s high-income renters live in metro areas like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-york-city-ny\/\">New York<\/a>, San Francisco, or Los Angeles, with <a href=\"https:\/\/www.jchs.harvard.edu\/sites\/default\/files\/reports\/files\/Harvard_JCHS_Americas_Rental_Housing_2024.pdf\">historically high rentership rates<\/a> \u2014 where the abundance of apartments as well as sky-high costs of homeownership make renting the more practical and cost-effective option.<\/p>\n<h2><strong>Millionaire Millennials are more likely to rent, while millionaire Gen X choose ownership<\/strong><\/h2>\n<p>According to IPUMS data, Millennials and Gen X are the two generations driving the rise in millionaire households. However, while today&#8217;s typical millionaire renter is more likely to be a Millennial, the typical high-earning homeowner is more likely to be Gen X. Between 2019 and 2023, there was a clear generational shift as the share of high-earning Millennials who rent increased significantly (by 60%), outpacing Gen Xers who turned towards homeownership instead.<\/p>\n<p>On the other hand, among homeowners, the shift occurred between Baby Boomers and Gen Xers. While Baby Boomers made up the majority of millionaire homeowners in 2019, an increasing number of Gen X millionaires have since moved into homeownership, surpassing Boomers. As a result, Gen X has become the dominant group of wealthy property owners.<\/p>\n<div id=\"datawrapper-vis-NvkzK\" style=\"min-height: 504px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/NvkzK\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-NvkzK\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/NvkzK\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>Although things have changed for Millennials recently, as they have transitioned to an owner-majority since 2022, many still opt to rent, which demonstrates the value this generation places on the flexibility and convenience renting offers.<\/p>\n<p><strong>So, what do most millionaires do for a living?<\/strong> They&#8217;re still busy running companies, writing software, practicing law along with various other high-paying occupations, ranging from financial analysts, real estate agents or even marketing and public relations, according to IPUMS data.<\/p>\n<h2><strong>Southern metros are hotspots for millionaire renters with Houston, Dallas and Miami in the lead <\/strong><\/h2>\n<p>While traditional luxury living metros still dominate, <strong>a remarkable percentage of millionaire renters are turning their attention to Southern metro areas<\/strong>, which have seen the most significant growth in wealthy renters. Leading the pack is <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\">Houston<\/a>, where the number of millionaire renters increased from seven households in 2019 to 179 in 2023 \u2014 in other words, it multiplied 25 times. Close behind is the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\">Dallas<\/a>&#8211;<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-worth-tx\/\">Fort Worth<\/a> metro area, with a twelvefold rise, while Miami \u2014 another spot long associated with high-end living \u2014 recorded 11 times more millionaire renters in 2023 than five years ago.<\/p>\n<div id=\"datawrapper-vis-5UtDz\" style=\"min-height: 701px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/5UtDz\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-5UtDz\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/5UtDz\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>In fourth place, the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/atlanta-ga\/\">Atlanta<\/a> metro area is also quickly climbing the ranking, with a tenfold increase in affluent renters, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/virginia-beach-va\/\">Virginia Beach<\/a>, where the number of wealthy renter households increased six times. The appeal of these destinations could be attributed to a mix of <a href=\"https:\/\/states.aarp.org\/texas\/state-taxes-guide\" target=\"_blank\" rel=\"noopener\">financial incentives<\/a> as well as the economic boom experienced by the Dallas-Fort Worth, Houston and Atlanta metro areas.<\/p>\n<h2><strong><span data-teams=\"true\">From zero to millionaires: Where today&#8217;s high-income households are now renting<\/span><\/strong><\/h2>\n<p>As more high-income renters forego traditional luxury markets for new destinations, we see the <strong>emergence of entirely new millionaire renter hubs<\/strong> \u2014 places that had zero millionaire renter households just a few years ago and are now experiencing rapid growth. Topping the list is the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charleston-sc\/\">Charleston<\/a> metro area, which saw its millionaire renter population increase from zero to 206 households between 2019 and 2023. Named the <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/best-cities-for-renters-to-live-2024\/\">best spot for renters<\/a> for two consecutive years, Charleston\u2019s appeal lies in its strong high-tech sector, attracting professionals seeking lucrative opportunities.<\/p>\n<div id=\"datawrapper-vis-RWEKc\" style=\"min-height: 638px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/RWEKc\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-RWEKc\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/RWEKc\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>Following in Charleston\u2019s footsteps, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oxnard-ca\/\">Oxnard, CA<\/a>, and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\">Jacksonville, FL<\/a>, also added their first millionaire renters between 2019 and 2023 \u2014 93 and 70 households, respectively. Instead of solely gravitating towards well-known metro areas for high-end living, wealthy individuals are increasingly seeking alternative destinations offering a strong mix of good quality of life, economic opportunities, and affordability. A similar case can be made for <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/orlando-fl\/\" rel=\"\">Orlando, FL<\/a>, and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-rosa-ca\/\">Santa Rosa, CA<\/a>, which now count 48 and 47 millionaire renter households, respectively. High-earners are attracted to their coastal lifestyle, walkable downtowns, or proximity to nature \u2014 without the sky-high costs and density of more traditional luxury renter hubs.<\/p>\n<h2><strong>From East Coast to West Coast: Millionaire renters favor rental markets in New York and California<\/strong><\/h2>\n<p>As the share of millionaire renters grows, their housing choices continue to lean significantly towards metro areas along the coasts. Even the New York City metro area \u2014 long known as the nation\u2019s top destination for wealthy residents \u2014 saw its number of millionaire renter households rise from 2,204 in 2019 to 5,661 in 2023, marking a 157% increase over the five-year span. California is a particularly popular destination, with wealthy renters preferring metros such as <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\">San Francisco<\/a>, which ranks second nationwide with 1,411 households in 2023 (compared to only 321 households in 2019).<\/p>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<div id=\"datawrapper-vis-aBVtP\" style=\"min-height: 756px;\"><script src=\"https:\/\/datawrapper.dwcdn.net\/aBVtP\/embed.js\" defer=\"defer\" type=\"text\/javascript\" charset=\"utf-8\" data-target=\"#datawrapper-vis-aBVtP\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/aBVtP\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>Next are <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\">Los Angeles<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\">San Jose, <\/a>two California hubs that saw their number of millionaire renter households triple between 2019 and 2023 to reach 823 and 577 households, respectively. We can observe a similar situation in the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\">Boston<\/a> metro area where the number of renters making more than $1 million grew fivefold by 2023.<\/p>\n<h2><strong>Millionaire homeowners prefer less traditional metro areas compared to renters<\/strong><\/h2>\n<p>It\u2019s not all glitz and glamour when it comes to where millionaires prefer to put down roots, as many favor spots outside of the traditional coastal powerhouses or the up-and-coming Southern destinations. Specifically, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/salt-lake-city-ut\/\">Salt Lake City<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pensacola-fl\/\">Pensacola, FL<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-luis-obispo-ca\/\">San Luis Obispo, CA<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chattanooga-tn\/\">Chattanooga, TN<\/a>, were among the most preferred thanks to their favorable business climates.<\/p>\n<div id=\"datawrapper-vis-eJjsX\" style=\"min-height: 757px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/eJjsX\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-eJjsX\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/eJjsX\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>As a result, Salt Lake City topped the list with an astounding 1,935% increase in millionaire households \u2014 skyrocketing from just 14 in 2019 to 285 in 2023. Orlando, FL, followed closely with a nearly identical growth rate, increasing from 54 to 1,098 households. In Pensacola, FL; San Luis Obispo, CA; and Chattanooga, TN, millionaire owner households multiplied by 18, 17 and 16 times, respectively.<\/p>\n<p>Another noteworthy addition is also Portland, ME, where the number of millionaire households are on the rise \u2014 102 millionaires have decided to settle down in this metro area compared to five years ago when there were none.<\/p>\n<h2><strong>Classic wealth hubs are magnets for millionaire homeowners\u00a0<\/strong><\/h2>\n<p>While some millionaires might have become more adventurous in their choices for a new home, the classic locations still retain their appeal for many of them. For example, California remains a stronghold for the wealthy, with the Los Angeles metro area seeing the number of high-income households growing from 4,414 in 2019 to 10,694 in 2023. Meanwhile San Francisco reinforces its status as a luxury hotspot with its affluent owner population increasing by 145%.<\/p>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<div id=\"datawrapper-vis-BKsFx\" style=\"min-height: 737px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/BKsFx\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-BKsFx\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/BKsFx\/full.png\" alt=\"\" \/><\/noscript><\/div>\n<div style=\"margin-bottom: 20px;\"><\/div>\n<p>Another noteworthy location is the Boston metro area, which is now home to more than 6,000 millionaire households \u2014 a 196% increase compared to five years ago. Next is Washington, D.C., with 5,788 households in 2023, ranking fifth nationwide. Unsurprisingly, the New York metro area remains the undisputed leader of the pack, having nearly doubled its number of millionaire households since 2019.<\/p>\n<div style=\"background-color: #edf1f5; padding: 20px; border-radius: 5px;\">\n<h2>FAQ: Millionaire Renters on the Rise in 2025<\/h2>\n<p><span style=\"font-size: 16px;\"><strong>Q: What is the trend in millionaire renters?<\/strong><\/span><\/p>\n<p>A: The number of millionaire renters in the U.S. tripled between 2019 and 2023.<\/p>\n<p><strong>Q: Which cities are seeing the fastest growth in millionaire renters?<\/strong><\/p>\n<p>A: Houston, Dallas, Miami, Atlanta, and Virginia Beach lead in growth, with Houston up 25-fold.<\/p>\n<p><strong>Q: Why are more millionaires choosing to rent?<\/strong><\/p>\n<p>A: Millionaires prefer renting for flexibility, luxury amenities, and freedom from homeownership duties.<\/p>\n<p><strong>Q: Where do most millionaire renters live overall?<\/strong><\/p>\n<p>A: New York, San Francisco, Los Angeles, San Jose, and Boston have the highest concentrations.<\/p>\n<p><strong>Q: How does the growth of millionaire renters compare to millionaire homeowners?<\/strong><\/p>\n<p>A: Millionaire renter households grew by 204% from 2019 to 2023, outpacing the 169% growth of millionaire homeowners.<span style=\"background-color: #ffffff;\">\u00a0<\/span><\/p>\n<\/div>\n<h2>Methodology<\/h2>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a> is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>We consider &#8220;millionaire renters&#8221; or &#8220;millionaire owners&#8221; individuals from households that have a total household annual income greater than $1,000,000 and who are renting or own an apartment or a house.<\/em><\/p>\n<p><em>Generation brackets were defined as per Pew Research Center data.<\/em><\/p>\n<p><em>IPUMS means Integrated Public Use Microdata Series and provides census and survey data from around the world integrated across time and space. IPUMS is a part of the Institute for Social Research and Data Innovation at the University of Minnesota.\u202fIPUMS USA, University of Minnesota, www.ipums.org.<\/em><\/p>\n<p><em>Steven Ruggles, Sarah Flood, Matthew Sobek, Daniel Backman, Grace Cooper, Julia A. Rivera Drew, Stephanie Richards, Renae Rodgers, Jonathan Schroeder, and Kari C.W. Williams. IPUMS USA: Version 16.0 [dataset]. Minneapolis, MN: IPUMS, 2025. https:\/\/doi.org\/10.18128\/D010.V16.0<\/em><\/p>\n<p><strong>Fair use and redistribution<\/strong><\/p>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the research, graphics, and images presented in this article. When doing so, we ask that you credit our research by linking to\u00a0<a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a>\u00a0or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at\u00a0<a href=\"mailto:media@rentcafe.com\">media@rentcafe.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a stunning reversal of traditional wealth patterns, millionaire renters have tripled since 2019, outpacing their homeowning counterparts in one of real estate&#8217;s most unexpected trends. While New York and San Francisco remain magnets for affluent tenants, emerging hotspots in Texas and Florida reveal a shift in where America&#8217;s wealthiest households choose to live \u2014&hellip;<\/p>\n","protected":false},"author":3055,"featured_media":139303,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3661],"tags":[],"class_list":["post-139302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-snapshots","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Millionaire Renters Are on the Rise With Southern Spots Leading<\/title>\n<meta name=\"description\" content=\"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"1 in 11 millionaires now rents, Southern metro areas become hotspots for luxury living\" \/>\n<meta property=\"og:description\" content=\"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-04T07:01:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-09T13:33:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Dragos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adina Dragos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/\",\"name\":\"Millionaire Renters Are on the Rise With Southern Spots Leading\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg\",\"datePublished\":\"2025-06-04T07:01:30+00:00\",\"dateModified\":\"2025-12-09T13:33:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/5f15d322771354ddad211157b5c7ee90\"},\"description\":\"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg\",\"width\":1400,\"height\":600,\"caption\":\"Concept art illustration of a Manhattan penthouse interior design in New York City, highlighting the elegance and appeal of luxury apartments typically leased by millionaire renters.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rentcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"1 in 11 millionaires now rents, Southern metro areas become hotspots for luxury living\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/\",\"name\":\"RentCafe rental blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/5f15d322771354ddad211157b5c7ee90\",\"name\":\"Adina Dragos\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Adina_Dragos.png?w=96\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Adina_Dragos.png?w=96\",\"caption\":\"Adina Dragos\"},\"description\":\"Adina Dragos is a real estate writer and research analyst with RentCafe. She has solid experience in real estate writing, covering topics ranging from best cities for renters and the top cities for rental activity to cost of living. Her work was featured in several prominent media channels such as Axios, The Dallas Morning News, ConnectCRE and The New York Times.\",\"birthDate\":\"1995-08-01\",\"gender\":\"Female\",\"jobTitle\":\"Creative Writer\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/author\/adinadragos\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Millionaire Renters Are on the Rise With Southern Spots Leading","description":"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","og_locale":"en_US","og_type":"article","og_title":"1 in 11 millionaires now rents, Southern metro areas become hotspots for luxury living","og_description":"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.","og_url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","og_site_name":"RentCafe rental blog","article_published_time":"2025-06-04T07:01:30+00:00","article_modified_time":"2025-12-09T13:33:07+00:00","og_image":[{"width":1400,"height":600,"url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg","type":"image\/jpeg"}],"author":"Adina Dragos","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Adina Dragos","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","name":"Millionaire Renters Are on the Rise With Southern Spots Leading","isPartOf":{"@id":"https:\/\/www.rentcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage"},"image":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg","datePublished":"2025-06-04T07:01:30+00:00","dateModified":"2025-12-09T13:33:07+00:00","author":{"@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/5f15d322771354ddad211157b5c7ee90"},"description":"Millionaire renters are on the rise across 100 of the largest hubs in the U.S., with new markets emerging as luxury hotspots.","breadcrumb":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#primaryimage","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg","width":1400,"height":600,"caption":"Concept art illustration of a Manhattan penthouse interior design in New York City, highlighting the elegance and appeal of luxury apartments typically leased by millionaire renters."},{"@type":"BreadcrumbList","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rentcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"1 in 11 millionaires now rents, Southern metro areas become hotspots for luxury living"}]},{"@type":"WebSite","@id":"https:\/\/www.rentcafe.com\/blog\/#website","url":"https:\/\/www.rentcafe.com\/blog\/","name":"RentCafe rental blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/5f15d322771354ddad211157b5c7ee90","name":"Adina Dragos","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Adina_Dragos.png?w=96","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Adina_Dragos.png?w=96","caption":"Adina Dragos"},"description":"Adina Dragos is a real estate writer and research analyst with RentCafe. She has solid experience in real estate writing, covering topics ranging from best cities for renters and the top cities for rental activity to cost of living. Her work was featured in several prominent media channels such as Axios, The Dallas Morning News, ConnectCRE and The New York Times.","birthDate":"1995-08-01","gender":"Female","jobTitle":"Creative Writer","url":"https:\/\/www.rentcafe.com\/blog\/author\/adinadragos\/"}]}},"jetpack_featured_media_url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/04\/millionaire-renters.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/139302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/users\/3055"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=139302"}],"version-history":[{"count":12,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/139302\/revisions"}],"predecessor-version":[{"id":144640,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/139302\/revisions\/144640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media\/139303"}],"wp:attachment":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=139302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=139302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=139302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}