Some Millennials say they plan on renting forever

Financial struggles are holding this generation back more than ever

Although Millennials seem to be taking over the housing market, nationally, 12.3% of Millennial renters say they plan to keep renting.

Last year, 10.7% said they plan to always rent, up over 2%, a study from Apartment List said.

For most, being able to make a down payment is the biggest struggle when it comes to purchasing a home.

In fact, nearly half of Millennial renters have no down payment savings, according to the study.

Another major barrier for this generation? Student debt. Even those who are debt-free are only saving about $100 more a month than those who have the burden of paying off loans.

Almost half of Millennials with no college degree have $3,221 saved for a down payment, while 50% with a college degree and debt have $8,200 saved for a down payment.

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