The Rise of the Rich Renter
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.
As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.
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.
Just 47% of newly-built apartments completed in Q3 were rented within three months as a record number of new apartments hit the market. But construction
Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units.
The number of homes on the market in the Sunshine State rose 23% year over year to a record high in January amid a decrease

Condo prices are up 5% year over year in inland Florida, but down a respective 5% and 3% on Florida’s Gulf Coast and Atlantic Coast.

That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to
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.
Just 47% of newly-built apartments completed in Q3 were rented within three months as a record number of new apartments hit the market. But construction
Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units.
The number of homes on the market in the Sunshine State rose 23% year over year to a record high in January amid a decrease

Condo prices are up 5% year over year in inland Florida, but down a respective 5% and 3% on Florida’s Gulf Coast and Atlantic Coast.

That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to