Don't have enough stacked in your account for a down payment on a house? You're not alone, and you're becoming even less-lonely there.

Raking in six figures a year still may not be enough to buy a home these days. In fact, The Wall Street Journal reports that "a record number of six-figure-income families rent" in 2019.

About 19 percent of U.S. households with six-figure incomes rent their homes, up from about 12 percent in 2006. Why? Experts say meager savings coupled with high student debt is to blame.

“The lack of savings for a down payment in this country is grossly underestimated,” says housing analyst John Pawlowski. According to his estimate, the typical renter has a net worth of only about $5,500--even if they take home six-figure salaries.

Meanwhile, more rental companies are starting to build and buy suburban properties catering to richer renters, who tend to have steadier incomes and want to stay put--even if it means a rent increase--for the sake of good public schools nearby.

Everyone knows it's becoming harder and harder to buy in the Treasure Valley. Homes typically sell after only a couple days on the market, so if you don't have that down payment handy or another plan setup, renting could be more long term for you.

More From 103.5 KISS FM