Think rents are high in the Tampa Bay area these days? That could be because more people can afford to rent. According to Apartmentlist.com, the number of bay area renter households earning six-figure incomes surged 76 percent between 2007 and 2018, far more than the national average. The growth is attributed in part to wealthy retirees and empty-nesters choosing to rent rather than buy.
Nationally, nearly 2 million high-income households became renters during that period, representing a 48 percent growth in the market. Denver led with a 146 percent increase, followed by Austin (142 percent), Oklahoma City (141 percent) New Orleans (116 percent) and Memphis (110 percent.)
Contact Susan Taylor Martin at firstname.lastname@example.org or (727) 893-8642. Follow @susanskate.