Acumen Insights

More Millennials Boomerang Back Home

By December 11, 2015 No Comments

The Pew Research Center found the share of 18- to-34 year olds living with family, rather than establishing their own households, has increased since the Great Recession. In the first third of 2015, 67 percent of Millennials were living independently compared with 69 percent in 2010 and 71 percent in 2007. Most of the decline in independent living since 2007 can be attributed to more young adults living in their parents’ homes; 26 percent of Millennials lived with their parents in 2015, 24 percent in 2010, and in 2007 only 22 percent.

As of the first four months of 2015, 42.2 million Millennials lived independently. This is no different than the 41.9 million 18- to-34 year olds who were living independently in 2010 and just below the 42.7 million young adults who lived independently in 2007. College-educated young adults are more likely than those without a college degree to live independent of their parents. As of the first third of 2015, 86 percent of college-educated 25- to 34-year-olds lived independently of family compared with 75 percent of 25- to 34-year-olds with no more than a high school education.