Wealthy Renters Increasing In Austin

Wealthy Renters Increasing In Austin

Posted by Ryan Machala on November 14, 2016 at 1:29 pm

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According to Curbed Austin, the number of wealthy renters in Austin is on the rise.  

Like San Francisco, New York and even, surprisingly, Fort Worth, Austin is seeing an influx of well-off residents who decide to rent rather than buy.  

The 2015 American Community Survey found that between 2005 and 2015 approximately 1.2 million households making over $150,000 made the decision to rent in the U.S.  The number of renters in that upper echelon increased by 217 percent.  Homeownership by the same group only went up 82 percent.

The highest earning renters are mostly in big, dense urban cities like New York and San Francisco, but since 2010 smaller cities are seeing a lot more affluent renters since as well.

Austin is number eight in the number of wealthy renting households for 2014 to 2015 in the nation.  Topping the list is Fort Worth, Texas.

Austin has a lot of luxury apartments, but if your budget is more on the beer than the champagne side, Austin Apartments Now can help you find an apartment with the luxury without the price tag.  Give us a call today at 512-258-8224 to find the perfect new home for you!  

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