Dallas Among Top 10 U.S. Cities for Growth in Millionaire Renters

A new report from RentCafe reveals that Dallas ranks among the top 10 metropolitan areas in the U.S. for the rise in millionaire renters over the past five years. The total number of millionaire renter households across the nation has surged by 229% from 2020 to 2024, outpacing the 193% increase in millionaire homeowners. In Dallas, the number of millionaire renters skyrocketed from 30 in 2020 to 165 in 2024, translating to a notable growth rate of 450%, which is the 8th highest in the country.

Houston takes the lead with an astounding 1,189% increase in millionaire renters, climbing from 18 to 232 households. The other cities in the top 10 for growth include Naples, Miami, Seattle, and Los Angeles. However, when it comes to the largest concentrations of millionaire renters, New York City and San Francisco remain at the forefront, with Dallas coming in at 17th place.