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HomeNew Data Shows 20% of Millennials & 68% of Adult Gen Z-ers...

New Data Shows 20% of Millennials & 68% of Adult Gen Z-ers Living With Family, Delaying Financial Independence

 

A new report from RentCafe shows there’s a growing trend of Millennials and Gen Zers 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 our 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 Zers (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 Zers 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 Zers 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.  

  

 

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