24 Million Millennials Are Still Living at Home With Their Parents
The idea of moving out of your parent’s house when you turn 18 is fading fast. I remember counting down the days, and not-so-patiently awaiting my freedom. Of course, reality quickly corrected any romantic notions I had about being an “adult,” but it was worth it. It was also just a bit easier when I was setting out on my own than it is now, for lots of reasons.
The U.S. Census Bureau has released some surprising information about millennials living at home with their parents, and it’s not entirely for economic reasons. According to the report, one in four 25 to 34-year-olds living at home — which works out to about 2.2 million — aren’t working or going to school.
The data points to millennials reaching for a firmer start before taking the leap. Seeing that in 1975 it took roughly 30% of your income to pay rent, and today it’s more like 40-45% – that may be a wise choice.