There is a new buzz word in real estate: Over Renter. This term is used to describe individuals or families that make $150,000 or more annually that choose to rent a home or apartment in lieu of purchasing a traditional home. These high-income renters certainly can purchase a home but elect to pay top dollar for renting smaller, more conveniently located living spaces … and they are happy about it.
According to a recent study by RentCafe, in the Fort Worth market alone, the number of high-income renters has increased 77 percent since 2014.
As Fort Worth continues to increase in population, the number of renters and buyers should continue to remain at a high level. The question remains, “is this a good thing?”