It could take millennials decades to afford a home (See how long in PHX, LA, NY)

Mike Sunnucks | Phoenix Business Journal

It could take the average millennial almost 12 years to afford a home in Phoenix. It could take them more than 32 years to afford a down payment in Los Angeles and more then two decades to squirrel away enough money for a down payment in Silicon Valley, San Francisco and New York.

That is according to a new report on millennials and home buying by real estate firm Abodo.com.

The Wisconsin-based company looked at millennial homeownership percentages and how long it would take the average young adult making the median income for their age group to save enough for a 20 percent down payment in various U.S. markets.

Read on:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.