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In D.C., most want to buy homes, but can’t

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It’s no surprise that home prices in Washington, D.C. are more expensive than other parts of the nation, but a new report from Apartment List proves that the lack of affordable options affects almost everyone. While 84 percent of Millennials in the District said that they plan on purchasing a home in the future, 75 percent said that they cannot currently afford to do so.

In order to save up for a 20 percent down payment, Apartment List estimates that the average Millennial will have to save for an average of 11.6 years. This might seem like a lot, but Millennials in San Francisco, San Diego, and Los Angeles have to wait almost 24 years.

Check out more facts from Apartment List’s report here.

Image via Apartment List

American Dream of Homeownership Delayed for Millennial Generation [Apartment List]