By now, we’re all aware of the growing trend of millennials purchasing their own homes.
But it’s important to note that renting is still a relatively young business, and it’s unclear whether millennials are simply buying houses to make ends meet, or are investing in the future of their family.
We’ve put together this guide to help understand how renting could potentially help your family financially over the long term.
In short, you might just save a few hundred dollars per year.
What’s the big deal?
In 2017, millennials accounted for about 10% of all renters, according to the Bureau of Labor Statistics.
And that number is projected to grow to 14% by 2026.
This means millennials are one of the fastest growing segments of the housing market.
So, how can they save on rent?
According to the U.S. Census Bureau, renters are expected to be making between $30,000 and $40,000 in 2017.
That’s still quite young, and the number of people with a bachelor’s degree is expected to increase from 9.9 million in 2017 to 10.9 billion in 2026, according the Census Bureau.
To put that in perspective, millennials are expected see an increase of 4.5% in total household income between 2019 and 2021, according a recent report from the Census.
This makes renting a relatively cheap investment.
In fact, the average rental price in San Francisco in 2018 was $2,500 per month, according Census data.
That translates to $2.10 per hour.
So a 20% savings per year is pretty great.
What about downsides?
As the rent-buyers age, it becomes increasingly difficult to afford housing for their kids.
According to a study by the Housing Finance Research Institute, renters who were renting in 2017 had an average monthly rent of $2-3,000, and were expected to see an average annual rent increase of $4,000 over the next five years.
For example, a one-bedroom apartment in San Diego rents for $2 a month, and an additional $2 to $3 for each additional bedroom.
For these reasons, it’s possible that renters will eventually end up paying more than their share.
For renters under the age of 30, however, the price of rent in many cities will likely stay the same, and you’ll be paying just as much.
What if I need help with a mortgage?
Even though millennials are investing a lot of their money in housing, there are some key factors that will help you get ahead financially.
One is that millennials have a higher savings rate than older generations.
According the Federal Reserve Bank of New York, the median savings rate for millennial renters is 30%.
This means that, on average, millennials have more than 30% of their income invested in housing.
Another important factor is that the housing bubble has been on a steady upward trend for a long time, so your home can be a great investment even if it’s a small one.
In 2018, home values in the U of A and the University of Minnesota were the highest they’ve been in more than a decade.
A large portion of this trend can be attributed to millennials, who are investing more in their housing than their parents did.
If you are a millennial, then you have more options when it comes to buying a home.
There are a number of home ownership options that you can explore, including condos, single-family homes, townhomes, and apartment buildings.
Here are a few other things to keep in mind when it come to buying your first home: You need to have a good credit score to qualify for a mortgage.
The Federal Reserve recently released a report which found that the average household with credit scores above 620 points would qualify for about 20% of the mortgages available for low- and moderate-income borrowers.
So even if you don’t have a lot in savings, you can still save a lot on a home purchase.
You can even borrow against your home for a down payment.
If your mortgage payment is more than your monthly mortgage payment, you will need to make some changes to your mortgage to pay down the mortgage.
To get started, you’ll need to apply for a home loan through the Federal Housing Finance Agency.
The process is relatively straightforward, and typically takes between five and 10 minutes.
Once you’ve applied for your loan, you should receive an application fee that ranges from $150 to $400.
You should then pay your initial loan principal on time.
For more information, see the Housing Guide.
You need a deposit.
To qualify for the Federal Home Loan Bank, you need to provide proof of income, such as a paycheck or a bank statement.
You also need to meet certain criteria, such a income limit, age, and residency requirements.
There is a fee to apply and to set up your loan.
You will then have to pay a monthly fee that varies depending on your credit score.
In addition, you may have to