10 Cities With the Most Millionaire Renters

While homeownership is traditionally seen as a sign of “making it” financially, some of the wealthiest Americans are eschewing this milestone. The number of millionaire renters has tripled since 2019, with 1 in 11 millionaires now renting, according to a recent RentCafe report.

Millionaire renters tend to be concentrated in traditional luxury living metros, but an increasing percentage are now flocking to Southern metro areas as well. Still, the major metros dominate when it comes to the highest number of ultra-rich renters.

Here’s a look at the cities with the highest number of millionaire renters.

Also see which is cheaper for the average person in 2025: renting or owning.

• Millionaire renter households (2023): 5,661
• Millionaire renter households (2019): 2,204
• Growth factor: 2 times

• Millionaire renter households (2023): 1,411
• Millionaire renter households (2019): 321
• Growth factor: 3 times

• Millionaire renter households (2023): 823
• Millionaire renter households (2019): 228
• Growth factor: 3 times

• Millionaire renter households (2023): 577
• Millionaire renter households (2019): 173
• Growth factor: 2 times

• Millionaire renter households (2023): 554
• Millionaire renter households (2019): 107
• Growth factor: 4 times

• Millionaire renter households (2023): 382
• Millionaire renter households (2019): 102
• Growth factor: 3 times

• Millionaire renter households (2023): 314
• Millionaire renter households (2019): 26
• Growth factor: 11 times

• Millionaire renter households (2023): 270
• Millionaire renter households (2019): 139
• Growth factor: 1 times

• Millionaire renter households (2023): 221
• Millionaire renter households (2019): 20
• Growth factor: 10 times

• Millionaire renter households (2023): 213
• Millionaire renter households (2019): 48
• Growth factor: 3 times

Editor’s note: Data was sourced from RentCafe.