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Report: NY ranks 6th with most young adults living with parents

State News

NEW YORK (NEWS10) — More and more young adults seem to be living with their parents for longer periods of time. Several factors are contributing to the trend including economic and social factors.

A new report by Lattice Publishing took a look at this trend by breaking down and determining what factors are contributing to such statistics.

In New York State, researchers ranked locations according to the percentage of young adults aged 24-35 living with parents and looked at how the unemployment rate and average income of young adults living with their parents compared to others their age. The researcher’s analysis found that in New York State, 23.7% of young adults live with their parents compared to the national ratio of 20.1%. Out of all 50 states, New York ranks 6th when it comes to the number of young adults living at home.

According to data from the U.S. Census Bureau’s 2018 report, the unemployment rate of young adults 25-34 who live with parents was 10%, which is nearly double the 5.1% unemployment rate of all young adults aged 25-34. The average personal income of young adults living with their parents in 2018 was $20,000, or 33% lower than the average personal income of all young adults and 41 percent lower than all adults aged 25-64.

Here is a brief list of the data researchers found:

  • Percentage of young adults living w/ parents: 23.7%
  • 10-yr change in percentage of young adults living w/ parents: 15.7%
  • Unemployment rate among young adults living w/ parents: 9.0%
  • Unemployment rate among all young adults: 4.9%
  • Median income among young adults living w/ parents: $23,000
  • Median income among young adults: $33,000

For reference, here are the statistics for the entire United States:

  • Percentage of young adults living w/ parents: 20.1%
  • 10-yr change in percentage of young adults living w/ parents: 38.4%
  • Unemployment rate among young adults living w/ parents: 10.0%
  • Unemployment rate among all young adults: 5.1%
  • Median income among young adults living w/ parents: $20,000
  • Median income among young adults: $30,000

Researchers suggest some factors contributing to these stats include the fact that young adults are getting married later and certain demographic shifts. With this trend of more adults living with their parents longer, the size of the average U.S. household is reportedly growing for the first time in 160 years. This is partly due to an increase in multi generational households as well as Americans “doubling up” meaning at least one additional adult other than the householder, spouse, or cohabiting adult lives in the house.

According to the U.S. Census Bureau, the percentage of young adults varies widely across the country with the Midwest having the lowest rates of young adults living at home, while coastal states like California, New York, New Jersey, and Hawaii have the highest rates.

To view the full report, click here.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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