DENVER -- The cost of buying or renting a home in Denver continues to rise and that has more young people turning to their parents for help making ends meet.
Nearly 15 percent of Denver millennials -- people born between the years of 1982 and 2004 -- get money from their parents to put toward rent, according to a new report from ApartmentList. In addition, 22.4 percent of millennials expect to get help making a down payment on a home in the future.
Both of those numbers are higher than the national averages. According to ApartmentList, 10.8 percent of millennials nationwide get help paying rent while 17.1 percent expect to get help making their down payment.
Of the millennials nationwide who get rent help from their parents, nearly a third of them have their rent paid in full, according to ApartmentList.
Millennials are often labeled as "entitled" or "lazy" by older generations but ApartmentList's analysis found that young people are simply having a hard time keeping up with rising housing costs.
Nationwide, rents have risen by 61 percent since 2000 and home prices have gone up 75 percent, according to ApartmentList, while incomes for households headed by someone under 35 have risen by 31 percent.
As of February, the median monthly rent for a two-bedroom apartment in Denver was just over $1,300.