Denver college-educated millennials need 15 years to save a down payment
Homendo Editorial Team
May 25, 2016 • Forensic Industry Report
Nationally, a college-educated person who is under age 36 with no student debt needs about 5.3 years on average to save for a 20 percent down payment on a median-priced home, according to the survey of more than 30,000 renters.
In metro Denver, that same renter will require 14.8 years to get enough set aside for a median-priced home.
Normally, those without student loans can save more for a home each month, but Denver is an exception. A millennial with student loans needs about 11.8 years. Millennials with no college education in Denver need 23.7 years on average.
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