Homeownership has always been at the crux of the American dream. But with housing’s rising unaffordability, that dream is looking more like a moonshot for most everyday Americans — and the juice might not be worth the squeeze.
For most apartment dwellers, saving for a down payment on a home can take years. For residents of Hawaii, it could take as long as 16 years and seven months. That’s according to a new study, published by Cinch Home Services, which pulled together federal income data, state-by-state apartment rent rates and home sale data to determine how long it would take the average renter to save for a down payment.
