A new wave of wealth is reshaping Phoenix’s housing market, making it the fastest-growing millionaire hub in the United States. Between 2019 and 2023, the number of millionaire renters in Greater Phoenix rose by 519% . Renting was once viewed as a temporary step toward homeownership. Today, for many affluent individuals, it has become the destination rather than the interim. And with that increase in millionaire renters has come a focus on luxury rentals.

The reasons are clear. Flexibility, amenities, and lifestyle often take priority over the obligations of ownership. Buying a home can offer long-term investment potential, but it also brings maintenance, significant commitments, and exposure to market fluctuations. For a growing group of wealthy newcomers – younger executives, tech fou

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