Buying a home has long been a cornerstone of the American dream, but homeownership isn’t the right financial move for everyone — even for millionaires who can easily afford it.
From 2010 to 2015, the number of millionaire renters tripled, according to RentCafe, signaling a shift in how wealthy individuals approach housing. This trend continued, with data analyzed by The Wall Street Journal revealing that between 2018 and 2022, the percentage of households earning $750,000 or more that chose to rent increased to a record high of 10.5%.
