Originally published: FOX6 News, 10 March 2025
The Brief:
- Nearly 40% of U.S. adults receive financial assistance from parents or grandparents to purchase a home, according to a February 2025 survey.
- Common forms of help included gifting money for a deposit, offering loans with repayment agreements, or providing free rent while saving for a deposit.
- The survey found that financial support is critical for many buyers, with 45% of Americans saying they couldn’t afford a home without help from family.
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.
The information for this story was provided by Compare the Market which commissioned Pureprofile to Survey 1,012 Australian, 1,010 Canadian and 1,013 American adults in February 2025, along with LendingTree and previous FOX TV Stations reporting. This story was reported from Los Angeles.
