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    New Data Shows 20% Of Millennials And 68% Of Adult Gen Z-ers Are Living With Family, Delaying Financial Independence

    New Data Shows 20% Of Millennials And 68% Of Adult Gen Z-ers Are Living With Family, Delaying Financial Independence

    RentCafe’s fresh report shows there’s a growing trend of Millennials and Gen Z-ers living with family well into adulthood, bucking the tradition of leaving the nest when turning 18.  

    Moreover, a survey we conducted in the past months shows that many of them (over 40%) don’t anticipate a change in their living situation in the next few years. 

    Key findings from the multigenerational living report based on IPUMS data:

    • 20% of over 72 million Millennials live with family members nowadays — more than previous generations like Gen X (17%) and Baby Boomers (18%) when they were the same age. 
    • 68% of nearly 33 million adult Gen Z-ers (over 18) live with their family members, compared to 61% of Baby Boomers and 66% of Millennials who lived with relatives at the same age.
    • Over 40% of Millennials and Gen Z don’t anticipate moving out within two years. And what’s even more surprising is that 14% of Millennials and 6% of Zoomers foresee living with family for 10+ years. 

    • California metros like Los Angeles lead in multigenerational households, with 35% of LA Millennials and 81% of Gen Z-ers living with family, likely due to high costs of living. At the same time, in New York, Miami, and D.C., about a quarter of Millennials are struggling to leave the nest.
    • Some metros like Milwaukee or Cincinnati see steep declines in youth living with family, with 62% fewer Gen Z-ers in multigenerational homes. 
    • Who are the people living with their parents? Millennials & Gen Z-ers that are working service, construction or education jobs, aged 32 (Millennials) and 22 (Zoomers). They are likely to live with three or four other people. 

    Head to the full study to delve into the local insights HERE.

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    New Data Shows 20% O…

    by The Editors Of The Fox Magazine Time to read this article: 4 min
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