Saturday, December 17, 2016

Saturday Stats: "Wealthy" San Jose renters grew by 32% in 2015

We ranked 7th in the nation when it comes to highest growth rate for "wealthy" renters. I put wealthy in quotes because the study is using $150,000/year of household income as the definition of wealthy. If you have a family in San Jose and your income is at that level between two working adults, you probably don't consider yourself wealthy.

In any case, San Jose now has 21,000 high-income renters (15% of the total renter population in San Jose). This number is increasing much faster than high-income homeowners. I don't think that is a good thing since it likely means fewer people can afford to purchase a home in the area. To read the full report, check out the source link below.

Source: RentCafe Blog

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