{"id":139302,"date":"2026-10-15T04:48:00","date_gmt":"2026-10-15T11:48:00","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=139302"},"modified":"2026-10-15T05:04:01","modified_gmt":"2026-10-15T12:04:01","slug":"millionaire-renters-trends","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/millionaire-renters-trends\/","title":{"rendered":"Millionaire renters more than triple in 5 years, nearly half are Millennials"},"content":{"rendered":"\n

The number of millionaire renter households in the U.S. grew 229% between 2020 and 2024, more than tripling in just five years. While New York City<\/a>, San Francisco<\/a> and Los Angeles<\/a> still pull the affluent crowd, a fresh crop of markets is emerging where none existed before.<\/p>\n\n\n\n

Leading the way is Lake Havasu City, AZ<\/a>, which had no millionaire renter households in 2020, but has since become an unexpected destination for wealthy renters.<\/p>\n\n\n\n

That 229% increase outpaced millionaire homeowners, who grew 193% during the same period. And, because affluent Americans have long favored owning, the faster climb in renting<\/a> marks a shift in housing preferences.<\/p>\n\n\n

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Key takeaways:<\/strong><\/p>\r\n\t\t