How Millionaires Are Embracing Renting Over Buying Homes
By: Glenn Pitcher | Published: 2025-06-30 02:00:00 | Source: nj1015.com
It might sound surprising, but more and more millionaires are choosing to rent homes instead of buying them. And it’s not because they have to. It’s because they want to.
Big Jump in Rich Renters
A new report shows that in 2019, about 4,500 millionaire households in the U.S. were renting. Fast forward, and that number has jumped to over 13,700. That’s more than three times as many in just over five years!
Where Are These Rich Renters Living?
Most of the big increases are down South. Houston, Texa, went from just 7 millionaire renters in 2019 to 179. Charleston, North Carolina had zero millionaire renters in 2019, and now it has 206.
Why Rent When You Can Afford to Buy?
It’s not always about money. Some wealthy people move around for work or they just don’t want the stress of owning…
