212,000 Rich New Yorkers Choose To Rent Over Buying a Home

Top 10 Cities with Highest Number of Renter-Occupied Households Earning Over $150,000/Year
Top 10 Cities with Highest Number of Renter-Occupied Households Earning Over $150,000/Year
Photo: RENTCafé

Real estate website RENTCafé recently crunched some U.S. Census Bureau numbers and found that over 212,000 wealthy (making more than $150k per year) New Yorkers choose to rent rather than purchase homes.

The attitude toward renting has been changing. The increased interest in renting among a population segment that is typically made up of homeowners comes in the wake of the housing crisis. For many it’s a matter of caution, a hindsight “lesson learned” behavior that keeps even people with high-paying jobs in the renting pool longer. For some it’s a lifestyle choice, as renting is more popular thanks to the high-end apartment market phenomenon that’s been spreading all over the U.S. in the last couple of years. Or maybe it means that an increasing number of people believe that homeownership is not the only way to have a fulfilled and successful life.

Check out the full article for more analysis of the data.

via RENTCafé

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