Between 2010 and 2011, the average annual household spending of the nation's young adults grew faster than the spending of any other age group. Householders under age 25 spent $29,912 in 2011. This was 5.5 percent higher than in 2010, after adjusting for inflation, an increase of more than $1,500.
What accounts for the increase? The same factor that explains why the median household income of young adults grew faster than that of any other age group between 2010 and 2011. In a word: attrition. In 2011, there were 291,000 fewer consumer units headed by people under age 25 than a year earlier. With so many young adults abandoning independent living and moving in with their parents, the remaining householders are those with jobs and money to spend.
Source: Bureau of Labor Statistics, Consumer Expenditure Surveys
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