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Although Millienials have made up 36% of the home-buying market over the past year, they are still experiencing several challenges in transitioning to homeownership. Along with increasing student debt and the difficulty in saving for a down payment, they also need a higher household income compared to last year. According to the NAR, the average Millennial needs a household income of $88,200 compared to $82,000 last year to purchase the same sized 1,800 square foot home.