It's a common trend for young people to separate from their parents once they become capable of living on their own. A new report, however, found that millennials are opting to live with their moms and dads now rather than being alone or with partners.
Americans aged between 18 and 34 are more likely to live with their parents for the first time since 1940, according to a recent analysis from the Pew Research Center. In some cases, some of the young adults never left their parents' homes, while others moved back after living on their own while in college or in the work industry.
According to the study, 32.1 percent of Americans with ages 18-34 are living with their parents, while 31.6 percent are cohabiting with a partner or spouse. Fourteen percent in that age group live on their own as single parents or in houses occupied by roommates or renters. Others in that age range live with other family members under the same roof, with a nonfamily member or in group situations like college dorms.
Young Men Tend To Live With Parents
American men aged 18-34 have a 35 percent tendency to live with their parents while only 29 percent of young women choose to cohabitate with their moms and dads. As expected, less educated young adults are more likely to share living conditions with their parents than their counterparts who reached college.
Moreover, black and Hispanic young adults are more likely to live with their parents than their white counterparts. Thirty-six percent of black millennials live with their moms and dads while only 17 percent choose to cohabitate with a spouse or partner. This is not surprising, given that living with their parents is a trend among black young adults since the 1980s.
Reasons Why
In European Union's 28 member countries, 48.1 percent of individuals with ages 18-34 live with their parents in 2014, EU statistical office Eurostat reported. Like the situations of young men in the U.S., European men have higher chances of living with their parents than young women.
Pew researchers said male unemployment and falling wages are the factors to blame why young men are living with their parents more, CNBC reported. Pricier rents and the increase of student debt due to inflation are also proving to be financial burdens for these young men.
Young women, on the other hand, have higher employment rates. Richard Fry of the Pew Research Center said young women are delaying marriage longer because of increased and better job prospects, the Business Insider noted.
