- Millennials spend an average of $1,532 on a single bachelor party.
- Going to nine bachelor parties — nearly $14,000 — costs about 34 percent of a down payment on a median-value U.S. home.
It's tough to save up for a home. It's a whole lot tougher after poker, cigars and a few dozen jello shots.
Bachelorette parties cost less: $1,106 on average per millennial guest, or $472 without travel and lodging.
Attending just nine bachelor parties in a lifetime will set you back $13,788, the site estimates — about one-third of the down payment on a median-value U.S. home. Considering that Americans attend an average three weddings per year, it isn't so far-fetched to start worrying that your spending habits on booze, flights and presents could keep you out of your dream home.
The damage varies by city. In the cheapest markets, such as Cleveland, millennials could sink half of a down payment partying. Even in San Jose, California, the country's most expensive housing market, millennials with nine bachelor parties under their belts will have spent 6.8 percent of a down payment on the typical $1,013,700 median home.
Bridesmaids and groomsmen may find themselves even further away from homeownership: Members of the bridal party spend an additional $1,154 on wedding gifts, clothes, and other expenses.
"Buying a home is one of the most expensive purchases someone will ever make, and for most first-time buyers that means years of saving money to afford a down payment," said Jeremy Wacksman, Zillow chief marketing officer, in a press release.
"Attending your friends' bachelor or bachelorette parties can be a trip of a lifetime," he said. "While everyone's budget and priorities are different, big ticket expenses like vacations can add up surprisingly quickly — a lot faster than a $19 avocado toast."