Almost 40% of Americans receive financial help from family to buy a house: Survey
2025 U.S. real estate predictions
Zillow predicted a more active market with additional inventory for 2025, giving buyers more room to negotiate. However, homebuyers should expect some turbulence with fluctuating mortgage rates, even as more homes become available. Alana Mann, President of The Statesman Group of Companies, joined LiveNOW from FOX to discuss.
As house prices have climbed to record levels in the last few decades, it’s become harder for prospective home buyers to be able to afford to buy a home.
And, according to a new study, this means nearly 40% of Americans are turning to the bank of parents and grandparents to afford a mortgage.
Home loan company "Compare the Market" surveyed more than 1,000 American adults in February 2025 to learn how many people turn to their family in order to afford a house.
Nearly 40% of US adults receive financial help from family to purchase a house
The survey found that plenty of adults have received monetary support to purchase a house, though it was more common in North America than in Australia.
By the numbers:
The U.S. had the most with 37% of respondents receiving some kind of financial help to get a house, followed by 36% of Canadians and 29% of Australians.
Ways parents and grandparents help their children afford home
The survey also found that there were different ways in which parents and grandparents helped their adult children.
FILE: Parents hug daughter. (Credit: Getty Creative)
The most popular method was gifting money for a deposit, followed by offering money for the deposit with the agreement that the family would be paid back, and offering free rent to live with them while saving for a deposit.
By the numbers:
The survey revealed that the financial support parents and grandparents provided was crucial for a significant number of buyers. Of those who did receive monetary aid from parents and grandparents to buy a house, 45% of Americans said they would not have been able to purchase a house without financial support from parents and grandparents.
For those who don’t currently own a home, 29% of renters in the U.S. said they were confident they could buy a house on their own without their family’s financial assistance.
Young buyers receive money toward home purchase
Big picture view:
The survey backs up other studies that show buyers planning to receive financial assistance from family to afford a home.
Last year, a Redfin study found that about 36% of younger buyers planned to receive a cash gift from their family to help with the down payment on a home.
RELATED: More than a third of Gen Z, millennials seek help from their parents to afford a house down payment
In 2023, a LendingTree survey revealed that 78% of Gen Z homeowners reported some financial support for a down payment, mostly from their parents. In addition, 54% of millennials have received down payment help, followed by 33% of Gen Xers.