High-Income Earners Making Up Larger Portion Of Renters
Multifamily affordability for Millennials remains a hot topic, but affluent renters are flocking to apartments in higher numbers than ever before. In 2015, Fort Worth topped all other cities with a 77% increase in the number of renter households that earned more than $150k annually, RentCafé reports.
Nationally, renter households earning more than $150k annually have exceeded owner households for the last five years. 1.2 million affluent households have become renters in the last decade—a 217% increase—according to the US Census Bureau. Owner households within the same income bracket increased by 82% within the same time frame.