A recent Redfin analysis of U.S. Census Bureau, MLS and county records from 2019 to 2023 found that in 35 of the 50 largest U.S. metro areas, wealthy renters are taking over the rental market. Certain cities, including San Jose, California; Raleigh, North Carolina; Orlando, Florida; Buffalo, New York; and Tampa, Florida, have seen a surge in wealthy renters compared to pandemic numbers.
Source: Inman News
Renting becomes sign of wealth as many opt against homebuying
Published in apartment rentals, Birmingham, Buffalo, california renters, Elijah de la Campa, florida renters, home prices, homebuying affordability, housing affordability, inman, Juan Castro, Market Flexibility, Markets & Economy, median home sale price, mortgage rates, News Brief, orlando, raleigh, Redfin, Redfin analysis, rental market, Rentals, rocket companies, san diego, san jose, San Jose housing, Select, Sun Belt, tampa and Wealthy Renters
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