Austin Millionaire Renters Climb Sixfold Since 2020
Wealthy households now make up a growing share of Austin's rental market, which renters should factor into their search.
Updated on Nov. 6, 2026 in Apartments
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RentCafe reported that about 1 in 9 Austin-area millionaire households rent their homes, based on 2024 metro-level household data. The analysis compared Austin's millionaire renter and homeowner counts with those in Houston and Dallas.
Why it matters
The Austin metro had 206 millionaire renter households in 2024, about 11% of its 1,797 millionaire households, while Houston and Dallas showed much lower rental shares of about 5% and 3%. Austin's rising count of wealthy renters, which grew from 84 to 206 between 2020 and 2024, signals that high-income households are choosing rentals in the city.
Austin's 206 millionaire renter households in 2024 ranked 16th nationally, and their share of the city's 1,797 millionaire households was about 11%. Houston and Dallas had rental shares of about 5% and 3% of their millionaire households, which had 4,606 and 4,896 households respectively.
The players
RentCafe
A rental listings and apartment market data platform that publishes metro-level housing analyses for renters and property seekers.
The details
RentCafe analyzed millionaire household data across U.S. metro areas and compared counts for 2020 and 2024. In Austin, millionaire homeowner households grew from 204 to 1,591 over that period, while millionaire renter households grew from 84 to 206. The analysis found Austin had the fastest growth in millionaire households among the state's largest metros.
Timeline
2020: Baseline year for the Austin millionaire household growth comparison.
2024: Millionaire household counts measured for Austin, Houston, Dallas, and nationally.
The Home Front
RentCafe's 2020-to-2024 metro analysis shows Austin's millionaire household growth outpacing Houston and Dallas, with the renter share here at about 11%. That places the city's rising high-income rental base within a wider pattern of wealthier households renting in Texas metros.
If you rent in Austin, note that high-income households are a growing share of the city's renters, which may mean more competition for well-located units. If you are weighing whether to rent or buy, review your budget against local listing prices with a licensed agent or lender before committing.
The takeaway
Austin's rising millionaire renter count suggests high-income households are part of the city's rental market, not just its homeowner base. Track local rental listings over the next year to see whether this demand affects availability and pricing in your neighborhood.
Further reading
For more on the rental market shaping Austin, see Apartments in Austin.
Source note: This article includes information reported by KEYE.
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