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Title: The Number Of Rich Renters Is Soaring In The Triangle. What’s Behind The Trend?

Citation Type: Miscellaneous

Publication Year: 2023

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Abstract: The number of well-off households deciding to rent rather than buy has exploded across the Triangle, according to a new study from RentCafe. In Raleigh, the number of “rich” renter households — those with annual incomes over $150,000 — skyrocketed by 178% between 2015 and 2020, going from 1,877 to 5,224, the study found. Cary, meanwhile, saw its number of affluent renters grow by 90%. The city reached a high of 2,388 well-off renter households in 2020 compared to 1,258 just five years prior. Durham followed with a 76% jump, adding 937 rich renter households, going from 1,226 to 2,388.

Url: https://www.newsobserver.com/news/business/real-estate-news/article272376388.html

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Authors: Allam, Chantal

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Data Collections: IPUMS USA

Topics: Housing and Segregation

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