> I’m thinking someone would need to be pushing $400-500k for household income. That would put them in the top 3%. I don’t get the supply and demand curve on it. Making that much, and renting. It’s an even smaller market than the full 3%.

I know a couple in that range of HHI (doctor/lawyer) who sold their house and moved to a rental in that range.

Their take is that their time is very valuable to them, and dealing with their house involved a bunch of time spent on management and administration that can’t be made to adequately go away without effectively hiring a house manager.