Millennials Still Choosing to Live at Home

hamilton-zanze July 31, 2015

Today’s young adults are more likely to live at home than during the recession, despite the rebounding job market and decreased unemployment.

The number of young adults establishing their own households has not increased proportionately to their population growth. From January to April 2015, only 67% of Millennials were living independently, while the share of young adults living with their parents increased from 24% to 26%. This could result in future demand for housing.

Numerous statistics indicate the young adult labor market has strengthened:

The national unemployment rate for adults ages 18 to 34 declined to 7.7% in the first third of 2015, compared to 12.4% in 2010.
Both job-holding and full-time employment have increased since 2010.
Median weekly earnings among young adults increased moderately through the first four months of 2015 to $574 from a low of $547 in 2012.