Affluent lifestyle renters have skyrocketed in recent years, driving up the demand for luxury single-family rentals across the U.S. And they want more—modern amenities, extra space, and no mortgage hassles.

MORE NEWS: Experts say Phoenix is still a sellers market. Here’s why

Arizona follows this trend, offering diverse options for high-end renters. Point2 analyzed the rental inventory to see which of the 100 largest U.S. cities offer the highest shares of luxury single-family houses for rent. Here’s how the state stands out:

The Luxury Tier: Two Arizona cities rank among the top 20 for the highest shares of luxury single-family rentals. Scottsdale takes the 8th spot with 34% of its rental houses in this category, while Phoenix comes at 19th with nearly 14%.

The Ultra-Luxury Tier: Those seeking an even more elevated lifestyle, can find opportunities in Arizona’s ultra-luxury market. In Scottsdale, 7% of all houses for rent are in the ultra-luxury category, while Phoenix, Glendale, and Mesa have more modest shares of 4%, 3%, and 2%, respectively.

Other highlights from the analysis

  • Demand for single-family homes for rent is exploding: The build-to-rent stock nearly quadrupled compared to three years ago.
  • A new, fast-growing housing sector means more spacious homes, up-to-date amenities and high-end features that are ready to cater to the needs and personalized wants of the modern, post-pandemic renter.
  • Newly built single-family homes for rent already look like a million dollars, but luxury and ultra-luxury houses for rent bring the art of mortgage-free and stress-free living to a whole new level.
  • The luxury tier: No fewer than five of the cities with the highest shares of luxury houses for rent are in California, but the East Coast holds its own, with Boston, MA; Miami, FL; and Arlington, VA also boasting plenty of luxury single-family homes for rent.
  • The ultra-luxury tier: Los Angeles, San Francisco, Irvine, Anaheim, and San Diego remain undefeated, while the great New York City missed the top 10 for the luxury tier, only to make a splash among the cities with the highest shares of ultra-luxury houses for rent.