Denver Millennials Are Not Ready to Buy a House. Here's Why
Good news for Denver landlords: an increasing number of millennials are planning to rent indefinitely. With less money than previous generations, younger renters in Denver feel they just cannot afford to buy a house—and they don’t expect that to change.
DENVER — A report released Tuesday finds more millennials who are renting plan to continue renting forever.
ApartmentList.com surveyed more than 10,000 renters between the ages of 23 and 38 and found affordability is the biggest obstacle to home ownership.
In the Denver metro area, only 20 percent of millennial renters are on track to save enough money for a 10-percent down payment within the next five years, according to ApartmentList. Twelve percent of millennial renters in Denver expect they'll continue renting for life.
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