Redfin Report: The Rise of the Rich Renter
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Affluent renters have become more common in 35 of the 50 most populous U.S. metros since 2019, with Raleigh and Orlando seeing the biggest upticks SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Nearly three-quarters of the most populous U.S. metropolitan areas (35 out of 50) have seen wealthy renters take up a bigger piece of the rental-market pie in recent years, led by Raleigh, NC and Orlando, FL. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.In Raleigh, 7.7% of renters are wealthy, up from 4.8% in 2019—the largest increase among the top 50 metros. It’s followed by Orlando (10.8%, up from 8.5%), Buffalo, NY (6.6%, up from 4.6%), Tampa, FL (9.4%, up from 7.9%) and San Diego (9.3%, up from 8%).“Many affluent Americans are choosing leases over mortgages because the cost of buying a home has jumped significantly more than the cost of renting one in recent years,” said Redfin Senior Economist Elijah de la Campa. “With mortgage rate
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