According to the Urban Institute’s “Millennial Homeownership” report, when baby boomers and Gen Xers were of present day millennials’ age, millennials’ homeownership rate is 8 percentage points lower. This implies that buying homes is more difficult for an average millennial than it was for their elders. In the history of the U.S., millennials are the most educated generation thus far. On the flip side, student loan debt creates a hurdle in saving for down payments. The likelihood of a person to buy a home decreases with even a 1% growth in his/her student loan debt, according to the Urban Institute’s research. If we make the comparison of median amount of debt, an average millennial holds $19,000. The average debt that Gen Xers had at the same age was $12,800 less. When a person spends more than 30% of his/her income on housing, that person is rent burdened. Numerous millennials are rent burdened, as they rent for longer periods, compared to their elders. Higher housing expenses don’t help either. This makes renting another contributing factor to millennials’ difficulty in transitioning into homeownership. Delayed marriage is another possible causative factor behind their decreased probability of home buying. The present trend of remote work can be a silver lining, as it may push the need for transitioning into homeownership among millennials. Down payment assistance can help them with home buying, despite the higher prices of homes in suburban areas.