1. Over One-Third of Millennials Are Living With Parents
2. Millennial Trends Hurting Men More Than Women
3. World Happiness Report: US Falls From #13 to #14
4. Social Progress (Well-Being) Index – US Falls to #18
One-Third of Millennials Are Living With Parents
As the father of two Millennials (ages 27 and 25), I pay a great deal of attention to articles and studies on this largest generation of 75.4 million Americans. Given the sheer size of this generation and its vast effect on the economy for decades to come, we should all be paying attention to trends within this massive group.
While both of my kids are out of college and very successfully employed and living on their own, tens of millions of Millennials are struggling to find good jobs and are opting to live with their parents or other relatives out of necessity.
Four decades ago, in the mid-1970s, young American adults in the 18-to-34 age bracket – now known as “Millennials” – were far more likely to be married and living with a spouse than living in their parents’ home. But that is no longer the case, according to a study by the US Census Bureau earlier this year. The Census Bureau study stated:
“There are now more young people living with their parents than in any other arrangement… What is more, almost 9 in 10 young people who were living in their parents’ home a year ago are still living there today, making it [sadly] the most stable living arrangement.”
The Number 1 living arrangement today for Americans in the 18-to-34 age bracket, according to the Census Bureau, is to reside without a spouse in their parents’ home. That is where you can now find almost 23 million Millennials – or almost one third. That compared to just 19.9 million who are married and live with their spouse in their own home or apartment.
In 2015, it was even worse than this year’s figures from the Census Bureau. Take a look at the chart at left. Almost 40% of Millennials were living with their parents in 2015.
In 1975, according to Census Bureau data, 31.9 million Americans in the 18-to-34 age bracket were married and lived with their spouse. Back then, this was by far the most common living arrangement for that age bracket.
Also in 1975, only 14.7 million people in the 18-to-34 age bracket lived in their parents’ home; but 6.1 million lived in an “other” arrangement (including with siblings, grandparents, other relatives, or unrelated roommates); and 3.1 million lived alone, and 0.7 million cohabitated with an unmarried partner.