Renters Need 16 Years to Save for a Starter Home, Twice as Long as in 2019
A new analysis finds the average renter household needs 16 years to save for a down payment and closing costs as living expenses rise.
AI-written summary · The Chestnut Post · · How we use AI
The average renter household now needs 16 years to put aside enough money for a starter home's down payment and closing costs, according to a new analysis reported by NPR.
That is twice the time required in 2019. Higher rents and other expenses are taking up an increasing portion of household budgets, leaving renters less room to save.
Originally reported by NPR. Read the full story at NPR
