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More millennials are living with their parents, but not the group you think

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09/13/2016 | Author: Editorial Staff

Have you been working with parents who need space at home for their adult children? If not, you’ll probably see more of this clientele soon, because adults in their late 20s and early 30s are living with their parents at record or near-record levels, according to data from the Pew Research Center.

Data show that in 2014—for the first time in more than 130 years—18- to 34-year-olds in the United States were more likely to be living with their parents than with a spouse or partner in their own household.

The usual assumption is that recent college graduates are those who head back to mom and dad’s house after leaving campus, but it turns out college graduates are actually the least likely to live with their parents. According to Pew Research, only 19% of those with a bachelor’s degree lived with their parents. Instead, millennials who live in their parents’ home are more likely to have a high school diploma or only some high school education.

In particular, 25- to 29-year-olds living at home with their parents rose to the highest levels on record, while census data suggest the number of 25- to 34-year-olds living with their parents kept rising in 2015.

Read more about these findings on Pew’s website. Then, learn more about working with clients who have multigenerational households in Texas REALTOR® magazine.

Categories: Research, Homeowners
Tags: multigenerational households, research