Even millionaires are renting. Here are 10 cities they're flocking to.

Between 2016-2020 and 2020-2024, the number of millionaire renter households in the US increased by 229%, surpassing the 193% growth in millionaire homeowners, according to RentCafe and US Census data. This trend reflects shifts in the luxury real estate market, with millionaires increasingly choosing to rent in certain cities.