New research from the NAHB shows young adults are sharing housing with roommates, housemates, and other non-relatives more frequently. In 1990, only 4% of adults aged 25 to 34 shared housing, but that number increased to 7.5% in 2016. Additionally, a rising portion of young adults are living with their parents or other relatives, making one in three, or roughly 15 million, in shared housing. NAHB’s Natalia Siniavskaia provides additional details.
The share of young adults living with parents or other relatives remained relatively stable from 1990 to 2000, fluctuating around 15%. The persistent and rising trend emerged a few years later. By 2006, 19% of young adults ages 25 to 34 lived with their parents or relatives. The trend continued its steady climb through the housing bust, a period of declining home prices, economic downturn and showed no sign of reversing even as an economic recovery took place. By 2016, the share of young adults ages 25 to 34 living with parents or relatives exceeded 26%. Out of these, more than 21%, or 9.4 million, lived in homes of their parents or parents-in-law and additional 5.2% (2.3 million) lived with other relatives.Read More