Millennials Still Living with Parents

family quarrels with the husbands mother

According to a new Pew Research Center analysis of U.S. Census Bureau, more millennials are living with their parents today than at the depth of the recession, despite an improved job market.

The amount of young adults living in their parents’ homes has increased from 24 percent in 2010 to 26 percent in the first quarter of 2015.

During that same period, the unemployment rate for adults ages 18 to 34 dropped from 12.4 percent in 2010 to 7.7 percent this year.

Despite the fact that there are 3 million more Americans in the 18-34 range now than there were in 2007 (Millennials now outnumber Baby Boomers), the number who are living independently has fallen from 42.7 million in 2007 to 42.2 million today. This is directly related to the fact that because of skyrocketing home/apartment prices and wage stagnation, millennials are being priced out of urban living and home ownership.

Be sure to check out and follow us on Tumblr where we blog about these kinds of topics and others that affect our real estate market. Have a question about how to buy or sell a home? Contact us today. If you are a Millennial desiring to buy a home, we have some solutions for you.  


 
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