The next renters’ market can be found along the leafy cul-de-sacs of Greenwich, Conn.

With the finance industry still in turmoil, sales of multimillion-dollar homes in the bucolic hedge-fund capital are so anemic that increasingly frustrated own-ers have taken to renting out their manses, real-estate data reveal.

Sales of Greenwich homes that have sold for more than $2.5 million have plunged 37 percent since 2005 while $10,000-a-month-and-up rentals have soared an eye-popping 292 percent in the same period, according to statistics compiled by Greenwich broker Kevin Sneddon, who runs the boutique brokerage firm Project Real Estate.

“Many more people are renting single-family homes in Greenwich these days, which is an interesting dynamic that has directly impacted the sales market,” Sneddon said.

So far this year, there have been 51 “single family” homes — a k a mansions — that have been rented out for at least $10,000 a month compared to just 13 in all of 2005. Indeed, 26 percent of all “luxury home” transactions so far this year are rentals.

Contributing to the trend is an expected drop of up to 30 percent in Wall Street bonuses this year, according to compensation-consultant Johnson Associates.

Plus, more financial-industry executives are receiving deferred compensa-tion in the form of company equity that takes years to vest — so even a multimillion-dollar bonus may provide only a fraction of that in cash.

Likewise, hedge-funders are typically paid only a percentage of the profits they earn on top of a staid management fee — and with hedge funds down an average 2 percent this year, incomes have crashed back to earth.

“Clearly, the unsold high-end inventory in Greenwich is growing — and is much larger than it has been historically,” Sneddon said.

Overall, the average Greenwich home-sale price in the first nine months of this year fell 14 percent to about $2.2 million compared to $2.5 million in the same period last year.

Total sales in all price categories are down 29 percent since 2005 while total rentals climbed 54 percent.

A side effect has been an 11 percent spike in rent prices in all categories.