{ Millennials Say They’ll Pay More on Rent }

More than half of young adults surveyed recently say they are willing to spend up to $150 more per month in order to stay in an apartment they love, according to a new survey of 1,000 millennial renters conducted by Rent.com. Nearly one in four respondents said they’d be willing to pay an extra $400 a month to stay in their apartment.

Read more: Why Renters May Be in Trouble

They may have to pay extra soon too. Rental rates are rising nationwide and more landlords say they plan to increase ratesmore in the coming year.

The average monthly rent for single-family homes was $1,286, marking a 5.4 percent year-over-year increase, according to Real Property Management and RentRange’s latest report.

But the question remains whether millennials will be able to afford any higher rents. Twenty-two percent of millennials were found to already be spending up to 40 percent of their annual income on rent. More than one in three millennial renters also reported getting financial help, with 24 percent getting parental support, 9 percent receiving government financial support, and 6 percent say they’ve depended on the “kindness of others.”

Source: “Rents Rise as Millennials Keep Forking Over the Cash,” HousingWire (May 8, 2015)