Top earners, or Americans making $150,000 or more per year, are the fastest-growing renter segment, according to apartment search website RENTCafé. After analyzing recent U.S. Census data, the research team at the company found that more than 1.35 million high-income households became renters between 2007 and 2017, a 175% increase.
As of today, there are 43.3 million renters nationwide, with 2.1 million in the high-income category. In 2007, RENTCafé reports, only 774,000 people were represented in the demographic.
SOURCE: MultiFamily Executive