Millennials aren't being whiny about housing, they're really struggling to keep up with the pace of rent and home prices.
Many millennials rely on their parents to afford a roof over their head, according to a new report by Apartment List.
Researchers found since 2000, home prices have shot up 73 percent while rent prices have gone up by about 60 percent. However, younger household incomes have only increased by about 30 percent.
Even college-educated millennials have difficulty saving for a home while paying off student loans and keeping up with high rent prices. Many young people take on service jobs and work as receptionists, cashiers, and teachers, where the pay isn't sustainable.
About 10 percent of millennials overall and eight percent of non-student millennials receive monthly rent from their parents, according to Apartment List analysts.
Most millennials receiving rent get only a small amount of cash from their parents. Only about one-third of non-student millennials receiving parental assistance get their rent paid in full. About 60 percent of millennials pay less than half their rent because of help from mom and dad.
Millennials also receive money from their parents for everyday expenses and others receive one-time assistance on a big cost such as a deposit, furniture, or a down payment.
In fact, the Apartment List report states, nearly 20 percent of millennials expect help with a down payment.
Most expecting assistance only expect smaller sums of less than $1,000 from family while about 15 percent expect $10,000 or more from parents. That's enough for about a quarter of a down payment on the national median priced condo, according to Apartment List.
Only about four percent of millennials receive $40,000 or more for a down payment. This amount could take years or decades for renters to save up, especially in pricer metros such as the Bay Area or Los Angeles.
Most millennials expecting parental assistance on a down payment expect anywhere between 10 and 30 percent to be covered by their family.
Interestingly, the report found the low-income renters -- who need the help the most -- are less likely to have parents who can help them pay their rent or buy a home. It's more common for higher-income families to pass down their wealth to their children and grandchildren through assistance in purchasing their home.