Tuesday, September 08, 2020

52% of Young Adults Live with Parents

This is a record high. Young adults (aged 18 to 29) are now more likely to live with their parents than ever measured before—even during the Great Depression, according to Pew Research Center. The coronavirus has driven many young adults back home, says Pew, which analyzed monthly files from the 2020 Current Population Survey. In February 2020, before coronavirus swept through the nation, 47 percent of 18-to-29-year-olds lived with their parents. In July 2020, the 52 percent majority lived with Mom and Dad. 

Young adults are more likely than any other age group to have moved due to coronavirus, according to Pew's previous research. Many moved because their college campus closed. Pew notes, however, that the Current Population Survey already classifies college students who live in on-campus college dorms as living with their parents, so the closure of on-campus college dorms did not contribute to the measured increase in young adults who live with parents. Instead, the increase was fueled by college students in off-campus housing who moved back home. It was also fueled by the many young adults who lost their jobs and could no longer afford to live independently.  

Between February and July, the percentage of young adults who live with their parents increased in every demographic segment. Among 18-to-24-year-olds, the share living with parents climbed from 63 to 71 percent. Among those aged 25 to 29, the figure grew from 26 to 28 percent. Living with parents became more common for both men and women, in every race and Hispanic origin group, in every region, and in both metros and rural areas.

Percent of 18-to-29-year-olds living with parents by race and Hispanic origin, July 2020 (and percentage point increase since February 2020)
Total: 52% (5)
Asians: 51% (6)
Blacks: 55% (4)
Hispanics: 58% (3)
Non-Hispanic whites: 49% (7)

"These new living arrangements may have an impact not just on young adults and their families, but on the U.S. economy overall," says Pew. The housing market may be especially vulnerable to the rise of multigenerational households. Pew has evidence of this, finding that the number of households headed by 18-to-29-year-olds fell by 1.9 million between February and July—a 12 percent drop.

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