Millennials Are Living With Parents in Record Numbers
Little birds are flocking back to the nest more than ever.
A new study by the Pew Research Center has found nearly one-third of adults between the ages of 18 and 34 are living with their parents. That's more than those who are shacked up with a spouse or significant other. And that means it's the first time since 1880 more people in this age group are living with their folks than on their own.
And, in a record-setting finding, 19% of those between the ages of 25 and 34 now call their parents' homes their own homes.
Among women, 35% live with a partner, while 29% reside with mom and dad. That's just a shade lower than men.
Back in 2000, 43% of people in this demographic were married or co-habitating with a partner, while only 23% lived their parents. In 2014, nearly 32% lived with a partner and another 32% lived with parents.
So, why are people putting off moving out? Well, the decision to marry later is a big factor. Women tie the knot at the average age of 27.1, while men do so at 29.2.
There's also the issue of low employment rates, declining income, high cost of rent and student debt that needs to be paid off.