CHRISTIAN NEWS

More Millennials Living With Family Than Seniors

Twice as many Americans live in multigenerational households compared to 1980. And Millennials are the ones driving the increase.

7/21/2014

It used to be seniors who were most likely to be living at home with family. New research shows young adults have reversed that trend.

Twice as many Americans live in multigenerational households compared to 1980. And Millennials are the ones driving the increase.

Nearly a quarter (23.6%) of young adults 25-34 live in a multigenerational household, according to an analysis of Census Bureau data by Pew Research Center. That's up from 18.7% before the recession. Multigenerational means the household includes at least two adult generations.

Poor job and wage growth and the trend in delayed adulthood have made young adults the leading age group affecting the increase in multigenerational households, Pew says.

Pew didn't include 18- to 24-year-olds in the analysis. The data focuses on the older half of Millennials. Young adults are not only moving home, they're staying through their late 20s and even early 30s.

Independence usually requires money and a job, which are both still in limited supply for young adults. Plus as Pew points out, young adults are marrying later and staying in school longer.

Overall, 18.1% of Americans live in an multigenerational household. In 1980, the share was 12.1%.

Source: USA Today
http://www.usatoday.com/story/money/personalfinance/2014/07/17/millennials-multigenerational-households/12779883/

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