The number of wealthy individuals choosing to rent instead of own has surged dramatically since 2019, especially in states like Texas and Florida. This shift marks a significant change in housing preferences among America’s affluent population, with many opting for flexibility over traditional homeownership.
Miami has emerged as a key hotspot in this trend, ranking third in the nation for growth in millionaire renters. While cities like New York, San Francisco, and Los Angeles remain strongholds for luxury living, Southern metro areas are experiencing the most rapid increases. Houston leads the way, seeing a 25-fold jump in millionaire renters between 2019 and 2023. The Dallas–Fort Worth region has also seen substantial growth, with a twelve-fold increase, placing it just ahead of Miami.
In Miami alone, the number of millionaire renter households expanded 11 times over the same period, making it one of the fastest-growing locations for wealthy renters in both Florida and the U.S. Overall, the metro area now houses over 4,000 millionaire households, reflecting a 325% rise since 2019.
Reports indicate that Miami isn’t the only Florida city drawing high-net-worth individuals. Naples, Tampa, Orlando, Pensacola, Palm Bay, and Daytona have all seen growing millionaire populations, driven by factors such as financial flexibility, favorable tax conditions, warm climate, and access to a high-end lifestyle. Boca Raton luxury real estate has also become a prime choice for wealthy individuals, offering an unparalleled mix of waterfront living, high-end amenities, and exclusive gated communities.
Luxury Rental Opportunity in Boca Raton
For those seeking an upscale rental experience in Florida, 5284 Boca Marina Circle South in Boca Raton presents a prime opportunity. This designer-finished and furnished deepwater townhome is located in a guard-gated community and offers 40 feet of private dockage along with a private two-car garage.
The home features three ensuite bedrooms plus an office/fourth bedroom, four full baths, and a chef’s kitchen with a natural gas range and a large island with a waterfall top. Wide water views, high-impact sliding glass doors, and an open floor plan enhance the luxurious feel of the property.
Residents of Boca Marina Yacht Club enjoy access to a newly renovated clubhouse, tennis and pickleball courts, a pool, jacuzzi, bocce, and a playground. The property is available for rent at $13,000 per month, with immediate occupancy through December 29, 2025.
As more high-net-worth individuals explore Boca Raton luxury real estate, exclusive rental opportunities like this one provide the perfect blend of elegance and convenience in one of Florida’s most sought-after locations.
For more details, visit the listing page