A recent YouGov poll finds that more than one in three Americans who have owned a home (35%) say that their parents helped them financially with buying their first home. Consistent with a similar survey recently conducted by YouGov in the UK, we find that younger Americans who own homes are more likely to have received financial assistance from their parents than are older Americans. While this could signal a shift in how people are acquiring their first homes, it could also reflect other factors, such as the fact that people who buy their first homes at younger ages may have different personal and family financial resources than people who buy them at older ages.
One in 10 Americans who’ve ever owned a home say their parents gave them the entire property outright, while 7% say their parents paid the entire deposit and 18% say their parents paid some of the deposit or helped financially with the house in another way. Combining age categories in order to yield a larger sample size, we find that adults under 45 are more than three times as likely as people 45 and older to say their parents gave them a property outright or paid the entire deposit.
We provide a summary of other findings related to homeownership from our latest survey below:
— Carl Bialik and Linley Sanders contributed to this article.
Related:
This poll was conducted on May 10 - 12, 2022, among 1,000 U.S. adult citizens. Explore more on the methodology and data for this U.S. News Poll.
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