Although they have the means to buy, the number of high-income renters is growing faster than any other income bracket. Renters by choice and not by necessity, this relatively new breed of resident, saw a whopping 175 percent increase during the past 10 years, outpacing even high-income homeowners in terms of growth.

According to Yardi’s RENTtCafé, the number of Americans who earn $150,000 or more per year and opt for renting increased by 1.35 million between 2007 and 2017, challenging the idea that top-earners in the U.S. prefer to buy instead of rent.

• Of the 43.3 million renters nationwide, 2.1 million are top earners, according to the latest available U.S. Census data. Back in 2007, there were only 774,000 high-income renters.
• At the city level, Seattle saw the most spectacular growth in terms of top-earning renters. With 7.4 times more renters earning over $150K per year, Seattle is followed by Charlotte, where the number of high-income households living in rentals has multiplied fivefold in 10 years.