Photo by NCinDC

Three quarters of millennials who want to buy a home in D.C. can’t because they’re strapped for cash, according to a new report by Apartment List.

The online rental marketplace analyzed data from its annual renter survey that included responses from 24,000 millennials across the country. It found that, nationwide, 80 percent of renters who were born between 1982 and 2004 want to buy a house or condo, but can’t afford it. And many of them are disillusioned, thinking it will take a much shorter period of time to save for down payments.

In the District, 84 percent of millennials said they plan to purchase a home, however, 75 percent are waiting because they can’t afford it. Some of them are also just not ready to settle down or waiting until they get married.

D.C. is currently at a point where one in four homes is priced at $1 million or more.

Millennials in the city said in the survey that it should take them about 6 and a half years to save for a 20 percent down payment. But based on their current savings rates, Apartment List calculated that they’ll need an average of 11.6 years.

That may be, in part, because the company says they’ll actually have to pay $20,000 more for a condo in the District than they estimate.

While just over a decade could seem like forever, millennials in D.C. fare better than their counterparts in San Jose who have a wait time of almost 24 years to save a 20 percent down payment—the longest among all the cities surveyed.

Millennials in San Francisco, San Diego, Los Angeles, and Austin each face a wait of at least 19 years, according to Apartment List, which notes that even with a smaller down payment of 10 percent, just over one in three millennials across the country will be able to save the required amount in five years or less.

D.C. also outpaced dozens of other cities, coming in second on another recent report that ranked cities with the highest percentages of millennials who’ve recently requested mortgage loans.

Graphic courtesy of Apartment List