Austin Millionaire Renters Grow Sharply Since 2020

RentCafe's analysis finds about 1 in 9 Austin-area millionaire households now rent their homes.

Updated on Nov. 6, 2026 in Apartments

Austin Millionaire Renters Grow Sharply Since 2020

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RentCafe analyzed millionaire household data across U.S. metros and found about 1 in 9 Austin-area millionaire households rent. Austin's millionaire household count grew more than sixfold from 2020 to 2024.

Why it matters

The figures show that wealth growth in Austin is not confined to homeownership, with a growing share of high-net-worth households choosing to rent. The comparison with Houston and Dallas highlights how the Austin market differs from other large Texas metros.

Austin had 206 millionaire renter households in 2024, about 11% of its 1,797 millionaire households, ranking 16th nationally. By comparison, about 5% of Houston's 4,606 and about 3% of Dallas's 4,896 millionaire households rent.

The details

Austin millionaire homeowner households grew from 204 to 1,591 between 2020 and 2024, while millionaire renter households grew from 84 to 206 over the same period. Austin had the fastest growth in millionaire households among the state's largest metros.

2020: Baseline year for the Austin millionaire household growth comparison.
2024: Millionaire household counts measured for Austin, Houston, Dallas and nationally.

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Market Context

Austin's sharp rise in millionaire households, as tracked in RentCafe's metro analysis, places the city among the fastest-growing wealth centers in Texas. Its renter share stands well above Houston's and Dallas's in the same dataset.

For Austin residents weighing whether to rent or buy, the data shows that high-income households in the city are choosing rentals at a higher rate than in Houston or Dallas. Renters considering the Austin market can see that millionaire renters are a small but growing segment.

The takeaway

Austin's rising millionaire renter count suggests that high-income residents are treating renting as a deliberate choice rather than a fallback. Renters and buyers alike can use metro-level comparisons like these to gauge local market tendencies.