Two-thirds of Millennials who want to buy a house still don’t have enough saved for a down payment and are relying on their parents to help them out.YPulse research found that buying a house / apartment is still a top goal for Millennials. But according to Apartment List’s 2022 Millennial Homeownership Report, of the 8 in 10 Millennial renters who hope to buy a home one day, 66% say they have no savings for a down payment. For those who have savings, only 16% have saved more than $10,000.. Those who do have down payment savings set aside have saved about $12,773 on average—just 3% of the $408,100 median sales price for a house as of late 2021. The report also found that only 2.3% of Millennial renters have enough money saved to cover the traditional 20% down payment on the median price condo. Meanwhile, of this group of Millennials, 21% say they are buying a home with help from a parent. (Insider)
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