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The number of millionaire renters in the United States more than tripled between 2019 and 2023.
By Julia Echikson
As the cost of homeownership has soared, renting has emerged as a popular and economical option — even for those who can afford to buy.
According to a report from RentCafe, the number of millionaire renters in the United States reached 13,692 in 2023 — more than triple what it was in 2019 — while the growth rate of millionaire homeowners lagged behind. The data excluded vacation and short-term rentals, a RentCafe representative said. (Researchers analyzed data from the Integrated Public Use Microdata Series, a database run by the University of Minnesota, to reach their conclusions.)
