Here's comes the snotty wealthy renters!
- snitzoid
- Apr 22, 2023
- 1 min read
Data: RentCafe; Chart: Tory Lysik/Axios Visuals
High-rolling renters in Chicago are on the rise.
By the numbers: The number of metro-area renters earning $150,000 or more grew by 91.5% from 2016 to 2021, per U.S. Census data.
That's higher than the national average increase of 86%.
What's happening: The amenities arms race is one way properties are catering to well-paid individuals.
Driving the news: High listing prices and mortgage rates aren't making homebuying as desirable as it once was, Apartment List's Salviati says.
"A lot of folks in that high-income band, who in the past would have owned homes, are now continuing to rent — whether that's for lifestyle reasons or because they are feeling like it's not a good time to buy," he says.
More data baby!
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