New Study Finds Out Where Young Adults Are Most Likely to Live With Their Parents
If you live at home in this West Coast locale, it's no big surprise.
For the first time in more than a century, the Pew Research Center found that more young adults live at home with their parents than with a romantic partner or spouse. And there’s been a lot of debate about the cause of this apparent “failure to launch.” Is it because, as some have speculated, millennials are delaying the onset of adulthood for as long as humanly possible? Could it be that marriage and long-term romantic relationships are increasingly falling out of favor? Or is it the more practical rising cost of rent and crushing weight of student loans that have left many college graduates unable to afford their own places? Well, perhaps we need to head to the West Coast to find out, according to a new study from financial website Magnify Money.
The company surveyed adults between the ages of 25 and 40 in the 50 largest metro areas in the country (excluding active students from their findings). Their results showed that the city where the most adults in this age group still live at home is Riverside, California, with 28 percent of young people shacking up with their parents.
Riverside is a picturesque little city east of Los Angeles that has previously ranked among the 50 best cities to spend your golden years and, conversely, has one of the 50 worst singles scenes in America. Those stats alone indicate that it’s not exactly a youth-friendly environment, but with a 4.4 percent unemployment rate and a cost of living rate that’s 11 percent above national average, Riverside does sound like a tough place to get one’s foot out the door.
While Riverside earned the number one spot on Magnify Money’s list, New York, Miami, and Los Angeles aren’t lagging far behind. The study found that more than one in four adults still live at home in those three major cities, all of which are well-known for their sky-high rent.
On the other end of the spectrum is Minneapolis, Minnesota, where only 12 percent of adults who are 25 to 40 years old don’t have a place of their own. In Minneapolis, the unemployment rate is only 2.2 percent. And, while it’s not exactly cheap, the cost of living is relatively manageable. Minnesota as a whole was recently named the least stressed state in America, and has previously been ranked as one of the states where residents have the most free time. Given all of these factors, it’s no wonder Minneapolis is one of the top cities millennials are flocking to.
The also study noted that young men were more likely than young women to still be mooching off of mom and dad in every metro are reviewed, except Austin, Texas. Though we may never be able to nail down exactly why so many young adults are living at home, on the plus side, it indicates families are closer than ever (at least, physically).
And for more urban insight, check out the City Where You’re Most Likely to Be Ghosted.
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