What are the factors keeping so many Americans from leaving the nest? Many experts have speculated about the various economic factors, but region may additionally play a role.
Thankfully, MagnifyMoney recently published a comprehensive analysis of the cities that harbor the most adults still living with their parents. These included men and women between the ages of 25 and 40 that did not identify as active students, across 50 of the largest metros in America.
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So which city has the most adults living with their parents? Riverside, California currently houses the most adults still living at home, with 28%. The authors of the study conjecture that the city’s high unemployment rate is a leading factor. New York, Miami, and Los Angeles trail close behind. One in four adult residents of these cities, currently live at home with their parents.
In every city reviewed, adult men were observed to live with their parents the most frequently with the exception of Austin, Texas.
Collectively about one in four adults between the ages of 25 and 40 currently living with their parents had children of their own that also lived with them, and one in five of this same group does not currently contribute to the labor market (defined as individuals that are not currently seeking work), with 8.6% merely being provisionally unemployed, (defined as individuals that wish to work but have yet to have any luck finding a new job).
Minneapolis features some of the lowest instances of adults living under their parents’ roof out of all the cities reviewed. Just under 12% of adults between the ages of 25 and 40 currently do so, just above Seatle (11.6%) and a four-way tie between Indianapolis (12.3), Kansas City, Raliegh, and Portland.
Take a look at the Top 10 cities with the highest percentages of adults aged 25-40 living with their parents
- Riverside ( 28.1%)
- Miami (27.7%)
- Los Angeles (26.6%)
- New York (24.7%)
- San Antonio (23.2%)
- New Orleans (22.9%)
- Philadelphia (22.5%)
- Providence, RI (22.3%)
- Baltimore ( 22.1%)
- Orlando, Fla. (21.1%)
The key factors
Although the study correctly highlights the cost of living to reliably determine rates of adults living with their parents, they additionally add that his factor does not stand alone. Many of the factors that contribute to adults prolonging their tenure in the nest pertain to a difficulty to efficiently save up money; a plethora of regional roadblocks that eat up wages much quicker than they’re earned.
The cites that had some of the highest numbers tended to be coastal cities, Miami and Tampa for instance, or even San Fransico and New Orleans. These metros all share similarities in these key factors: housing costs relative to income, prices on goods and services, income inequality and commute times.
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