Report: Tampa's wealthy turning to rentals at higher numbers

Redfin finds that as housing costs rise the affluent are renting their residences more often because it "frees up cash for other investments that may be more lucrative than real estate."

By Louis Llovio
| 5:00 p.m. March 13, 2025
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Tampa Bay-Lakeland

Tampa’s richest residents are becoming the city’s biggest renters, according to Redfin.

The Seattle-based real estate technology firm has just released a report that found that out of the 50 most populated metropolitan markets in the country, 35 have seen wealthy renters taking up a bigger share of rental properties in recent years.

That includes Orlando, where 10.8% of renters are wealthy, up from 8.5% in 2019. In metro Tampa, meanwhile, 9.4% of renters are considered wealthy or affluent, according to the report. That’s up from 7.9% in 2019.