The one third of Toronto millennials who still live with their parents might just be onto something. A recent report from Zoocasa found that the average renter would have to save only 14.7 months of rent to come up with the minimum $37,807 down payment necessary to purchase the average GTA condo unit – which currently sits at the ridiculous price of $628,074.

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Actually, according to recent analysis by J.P. Morgan, more men than women currently reside with their parents in an effort to save money (and perhaps have their laundry done)? Urban dwellers who live in cities like Toronto and Vancouver often pay upwards of 50 per cent of their monthly income towards rent alone. That means the average income earner Zoocasa is talking about should be earning a minimum of $64,812 if they are to put aside approximately 50 per cent of that income towards a down payment.

But is this calculation actually realistic? Given the fact that Canadian grads currently owe over $28 billion dollars in student debt, the idea of saving 50 per cent of your income – even if you live at home – seems highly unlikely. Add to that the fact that you’re probably going out way more often to get away from your parental unit – and you’ve got a lifestyle set-up that is likely to throw you further into the debt spiral. In fact, 49 per cent of millennials admit to spending more money on restaurant food than saving for the future.

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Zoocasa found that there are actually 13 Toronto neighbourhoods you might even be able to settle in after a mere 12 months of saving – if you want to live in places like Malvern, Rexdale or Black Creek. It really depends on how far you’d have to commute to work and whether you are committed to the journey there and back over the long haul. Don’t forget – TTC fares are slated to go up relatively soon.

But maybe the cost of commuting is already eating up your house savings? According to the Canadian Mortgage and Housing Corporation, those who relocate to 905 communities to save money for a Toronto home often find commuting to gauge out a huge portion of their expected income.

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If you’re planning to live in Rosedale, Yorkville or York Mills, however, the timeline for savings could – surprise, surprise - exceed well over 25 months worth of rent.

While young people aren’t exactly abandoning their dreams of living in the city, they are still struggling to cover the minimum payments on the debts they’ve already incurred.

The one stat the Zoocasa study doesn’t mention is average square footage. The newest trend in the GTA is micro condos the size of a walk-in closet – approximately 350 square feet. Maybe living with ma and pop ain’t so bad after all?