There are currently 18.3 million children under the age of five that live at home with their mothers. When isolated, this statistic isn’t all that unnerving. How about another statistic that posits only about four million fewer adults between the ages of 23 and 37 are currently doing the same? According to a new study by Zillow, there are 14.4 million Millennials living with their moms-a figure that has been experiencing a steady incline since 2000.
Back at the turn of the millennium, nearly 12% of young people lived with their mothers. Less than 20 years later this number has surged to more than a fifth (21.9%.) In all fairness, as the authors of the new study pointed out, this percentage is made up of a small minority of adults that house their mom in order to accompany them in old age, and adults that require assistance from their mom in raising their own kids. This minority only accounts for 1.4% of young adults cited in the new study, however, which is only fractionally more than the 1.2% reported on back in 2000.
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Living with mom
To conduct the study, the researchers over at Zillow, analyzed data from the U.S Consensus Bureau, American Community Survey, presented by the University of Minnesota, IPUMS-USA. In addition to reviewing households wherein the mother and young adult child were present, the study also took households where both parents were present into account.
Strangely, latent economic independence is particularly prevalent in places where rent is less affordable. Areas like Miami, Riverside California, New York, and Los Angeles, all boast fairly high percentages of Millennials living at home, even though the median rent of all the areas mentioned accounted for upwards of 35% of income earned by the typical household.
There were a few curious exceptions, however. In 12 of the most populated markets observed, the most recent cohort of Millennials seems to be defying the trend. Atlanta, Boston, and Seattle all instance a slightly less percentage of young adults living with mom compared to last year’s numbers.
The authors of the report suggest several possible antecedents to this collective hesitance to leave the nest. The authors report, “Some may simply be unable to afford local housing costs; others maybe could afford those costs, but choose to live with mom instead to more easily save for a down payment, security deposit or other big expense.”
Ladders recently reported on a study that motioned a comparatively underreported cause. A new Homes.com study found that 33% of 26 to 30-year-olds, 37% of 31 to 35-year-olds and 24% of 36 to 40-year-olds, moved back home. or “boomeranged,” due to a divorce or a rough breakup.
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