- Millionaire renters in the U.S. have tripled from 4,500 in 2019 to nearly 13,700 in 2023, showing a surprising shift among the wealthy toward renting. While New York and San Francisco remain popular, Texas and Florida are emerging as new hotspots for affluent renters seeking flexibility and luxury without homeownership hassles. Rising costs and market challenges are making buying less appealing—even for millionaires.
An unexpected wealth class just joined the club of “forever renters”—and it’s not who you’d expect.
