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Title: Even millionaire millennials are now renting instead of buying homes

Citation Type: Miscellaneous

Publication Year: 2023

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Abstract: More and more millionaires are stepping on the everyman's corner and renting apartments rather than putting down roots and money to become homeowners. Roughly 43 million families across the country currently live in apartments—the highest level in half a century, according to a new report from apartment search site RentCafe. Included in that historic number of renters is a record-high number of millionaire renter households: 3,381, a number that tripled from 2015 to 2020, according to data RentCafe gathered from IPUMS. The share of high-earning renters, categorized in the report as households making $150,000 or more a year, increased by 82% over the last five years, which is the largest jump from any renting income bracket.

Url: https://www.yahoo.com/lifestyle/even-millionaire-millennials-now-renting-163521879.html

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Authors: Williams, Trey

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Data Collections: IPUMS USA

Topics: Housing and Segregation

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