The number of high-income renters has tripled in the last 10 years

Posted On Thu, November 3, 2016 By

Posted On Thu, November 3, 2016 By In real estate trends

In the last decade, with the recession and an unstable housing market, even those with stable incomes have become wary of investing in a new home. This turn towards renting is reflected in the increase among wealthy households, according to an analysis from RentCafe. The data shows that from 2005 to 2015, the number of renter households who earn more than $150,000 a year increased by 217 percent, from 551,000 to 1.75 million. This figure outpaces the number of homeowner households in the same income bracket, which increased only 82 percent.

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