Report shows millennials relying on family to pay for housing

Posted at 8:30 PM, Mar 14, 2018
and last updated 2018-03-14 23:31:39-04

A new report from shows that more and more millennials are relying on family to help pay for rising housing costs.

Since 2000, home prices have increased by 73 percent and rent prices have increased by 61 percent while incomes for younger households have only increased by 31 percent, according to the website.

Nearly eight percent of non-student millennials said they’ve received rent money from family members while more than 17 percent of millennials said they expect their family to help them make a down payment on a home.

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The website noted that it's not just millennials getting help with rent. 

With rent hitting new highs all over the country, two percent of renters over 40 receive help from their parents.