Analysis shows high level of young Americans are still at home
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More Americans age 24-36 live with their moms than at any time in the past decade.
There are around 12 million millennials living at home, almost a quarter of the generation, up from just 13.5% in 2005.
The figures are revealed in an analysis by Zillow which shows the situation was driven by slow wage growth as rents were rising; but the trend has continued even as the labor market has improved.
"Living with parents may allow young adults to pursue work or a passion that may not be especially lucrative or save enough money for first and last month's rent or a down payment on a home of their own” said Zillow senior economist Aaron Terrazas.
The markets with the largest, smallest share of at-home millennials
But the share of young Americans living at home is not consistent nationwide as more live with parents where housing costs require a larger share of income.
In Miami, New York, Riverside, Calif. and Los Angeles, more than 30% of millennials live at home with their mom. These are also among the country's pricier rental markets where rents typically consume upwards of 35% of the median income.
Meanwhile, in Austin, Texas, the smallest share of millennials live at home with their mom(14%). Renters in Austin can expect to put less than 30% of their income toward a rental payment. Other markets with a small percentage of millennials living with Mom include Seattle, Denver and Oklahoma City.
“In booming Western markets, relatively few young adults live with parents, not because rents are cheap but because family is far away. There is also a small slice of this young adult population that has mom living with them instead. Perhaps mom needs extra care as she ages or has moved in with an adult child to help raise her grandchildren," adds Terrazas.
|
Metropolitan Area |
Share of |
Share of |
Zillow Rent |
Share of |
Unemployment |
|
United States |
13.5% |
22.5% |
$ 1,447 |
28.9% |
11.6% |
|
New York, NY |
20.4% |
30.3% |
$ 2,400 |
38.8% |
11.4% |
|
Los Angeles-Long Beach-Anaheim, CA |
18.4% |
30.2% |
$ 2,753 |
47.3% |
8.5% |
|
Chicago, IL |
15.8% |
26.1% |
$ 1,654 |
29.0% |
11.5% |
|
Dallas-Fort Worth, TX |
9.8% |
19.7% |
$ 1,606 |
29.0% |
9.1% |
|
Philadelphia, PA |
18.4% |
28.5% |
$ 1,581 |
27.7% |
11.0% |
|
Houston, TX |
12.9% |
22.3% |
$ 1,558 |
29.4% |
12.2% |
|
Washington, DC |
13.0% |
21.8% |
$ 2,148 |
25.9% |
10.2% |
|
Miami-Fort Lauderdale, FL |
15.6% |
33.4% |
$ 1,865 |
42.1% |
10.3% |
|
Atlanta, GA |
10.7% |
23.3% |
$ 1,397 |
25.9% |
13.0% |
|
Boston, MA |
14.7% |
23.2% |
$ 2,379 |
33.4% |
9.2% |
|
San Francisco, CA |
14.1% |
21.1% |
$ 3,420 |
39.9% |
10.0% |
|
Detroit, MI |
15.4% |
24.2% |
$ 1,208 |
24.6% |
14.7% |
|
Riverside, CA |
17.6% |
33.0% |
$ 1,885 |
36.7% |
12.7% |
|
Phoenix, AZ |
9.7% |
21.0% |
$ 1,364 |
26.9% |
12.1% |
|
Seattle, WA |
9.2% |
14.4% |
$ 2,208 |
30.9% |
8.7% |
|
Minneapolis-St Paul, MN |
8.5% |
16.5% |
$ 1,643 |
26.1% |
8.2% |
|
San Diego, CA |
11.8% |
23.3% |
$ 2,550 |
41.2% |
11.8% |
|
St. Louis, MO |
12.6% |
19.5% |
$ 1,150 |
22.2% |
12.1% |
|
Tampa, FL |
10.8% |
22.0% |
$ 1,377 |
30.8% |
11.6% |
|
Baltimore, MD |
15.2% |
24.2% |
$ 1,745 |
26.0% |
11.4% |
|
Denver, CO |
8.9% |
15.0% |
$ 2,054 |
32.4% |
8.4% |
|
Pittsburgh, PA |
15.9% |
23.0% |
$ 1,075 |
21.6% |
14.4% |
|
Portland, OR |
8.0% |
17.0% |
$ 1,860 |
31.3% |
9.3% |
|
Charlotte, NC |
10.4% |
19.5% |
$ 1,299 |
24.8% |
12.7% |
|
Sacramento, CA |
12.3% |
22.4% |
$ 1,852 |
33.0% |
8.8% |
|
San Antonio, TX |
14.3% |
29.2% |
$ 1,345 |
27.7% |
7.7% |
|
Orlando, FL |
10.1% |
24.0% |
$ 1,442 |
31.1% |
11.0% |
|
Cincinnati, OH |
10.9% |
18.8% |
$ 1,282 |
24.6% |
11.2% |
|
Cleveland, OH |
14.7% |
21.3% |
$ 1,149 |
25.5% |
14.7% |
|
Kansas City, MO |
9.0% |
15.4% |
$ 1,282 |
24.1% |
13.0% |
|
Las Vegas, NV |
11.2% |
24.1% |
$ 1,302 |
27.4% |
12.5% |
|
Columbus, OH |
8.8% |
16.8% |
$ 1,324 |
25.5% |
11.0% |
|
Indianapolis, IN |
7.9% |
16.8% |
$ 1,207 |
24.7% |
12.0% |
|
San Jose, CA |
14.3% |
21.3% |
$ 3,523 |
36.3% |
9.8% |
|
Austin, TX |
8.0% |
13.9% |
$ 1,686 |
27.3% |
8.1% |
|
Virginia Beach, VA |
11.6% |
23.3% |
$ 1,408 |
26.4% |
11.1% |
|
Nashville, TN |
9.2% |
16.6% |
$ 1,499 |
28.7% |
11.3% |
|
Providence, RI |
17.5% |
26.2% |
$ 1,664 |
30.5% |
8.6% |
|
Milwaukee, WI |
11.9% |
17.5% |
$ 1,367 |
27.1% |
11.4% |
|
Jacksonville, FL |
11.1% |
19.6% |
n/a |
26.3% |
8.4% |
|
Memphis, TN |
13.4% |
23.7% |
$ 1,088 |
25.0% |
14.8% |
|
Oklahoma City, OK |
9.6% |
15.2% |
$ 1,100 |
22.9% |
10.5% |
|
Louisville-Jefferson County, KY |
12.6% |
18.8% |
$ 1,194 |
25.2% |
18.0% |
|
Hartford, CT |
17.8% |
24.2% |
$ 1,604 |
25.7% |
14.5% |
|
Richmond, VA |
11.9% |
22.6% |
$ 1,396 |
25.6% |
12.9% |
|
New Orleans, LA |
19.3% |
26.8% |
$ 1,385 |
33.3% |
14.1% |
|
Buffalo, NY |
16.2% |
22.2% |
$ 1,216 |
25.9% |
9.1% |
|
Raleigh, NC |
6.5% |
17.2% |
$ 1,439 |
22.9% |
14.2% |
|
Birmingham, AL |
13.6% |
22.5% |
$ 1,054 |
23.5% |
16.4% |
|
Salt Lake City, UT |
10.6% |
19.0% |
$ 1,591 |
26.8% |
9.0% |
