New York City has over 5,600 Millionaire Renters

Key takeaway

• In America’s most expensive cities, thousands of millionaires are still renting a home
• Millionaires were defined as households with an annual income of over $1M

Millionaire renters are becoming more common

Between 2019 and 2023, the number of millionaire renter households in America grew by 204%. The majority of them are millennials (46%) or Gen X (34%).