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Week of Feb. 10th- The reason rich people are now the fastest-growing segment of renters

February 10, 2019

Even the rich gotta rent.

The affluent are increasingly renting, according to multiple studies. Indeed, renters earning $150,000 or more per year were the fastest-growing group of renters, according to a recent study by apartment listing site RentCafe.com, which analyzed pricing and demographic data from the U.S. Census, real estate listing sites Redfin and PropertyShark, and apartment real estate research firm Yardi Matrix.

“Between 2007 and 2017, top-earning renters increased by 175%, while homeowners within the same income bracket exhibited a 67% growth rate,” the RentCafe.com study revealed. “Out of the 43.3 million renters nationwide, 2.1 million are top earners according to the latest available U.S. Census data. Back in 2007, there were only 774,000 high-income renters.”  Read more.



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