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A Third Of Adults Under 35 Live At Home
Homebody // Illustration by Kate Walker
A new study from Realtor.com found that nearly one in three adults under 35 lived with their parents last year.
The Big Picture: The growing number of adult children living at home underscores how the rising cost of living has pushed the American Dream further out of reach for Gen Z and millennials. The trend has profound implications for the economy, the housing market, and family formation — and may require significant action from both the private and public sectors to turn around.
Behind The Walls: The stereotype of an adult kid living at home is that they’re a lazy freeloader — but the data suggests the opposite is true.
A record 25.2 million people under 35 live with their parents — more than during the pandemic and double digits more than at the start of the century.
About 70% of them are employed. As Realtor.com senior analyst Hannah Jones noted, “that share held steady even as the overall co-residence rate has climbed — meaning the growth is coming from working adults, not people waiting to find jobs.”
In other words, a steady income is no longer enough to cover rent — let alone a mortgage. Since 2019, the median home price has risen 34%, while median rent has increased 18%.
Many young adults are also carrying higher levels of credit card debt, student debt, and auto loans, making it harder to build wealth and achieve financial independence.
Closing Thoughts: Interestingly, the adult-children-living-at-home phenomenon has become so entrenched that 72% now contribute to their parents’ bills, including mortgage payments, utilities, and groceries. Realtors also report that many older homebuyers are seeking properties that can accommodate multiple generations — both their adult children and their own aging parents.
Meanwhile, a separate Realtor.com survey found that one-third of respondents under 35 have taken on a second job or side hustle to boost their income. Against that backdrop, it’s no surprise that some young people are treating meme stocks and prediction markets like slot machines.
Prediction: Soon, larger homes housing multiple generations may become the new norm — leaving less demand for both starter homes and downsizing options.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.