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Report: Millennials Spend More on Rent Than Previous Generations

By the time millennials turn 30, they will have paid nearly $93,000 in rent, a new study finds.

A recent study shows the millennial generation ends up spending an enormous sum on paying rent; much more than their parents did at the same age. The study from RentCafe looked at U.S. Census data going back to the 1970s to look at which generation is the most rent-burdened between the ages of 22 and 30. The results found the current generation born between the 1980s and the mid-1990s, commonly known as millennials, will pay nearly $93,000 on rent alone by the time they turn 30.

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