More Young Americans Than Ever Live With Their Parents

According to new figures released by the Pew Research Centre, more young Americans than ever live with their parents. In 2012, a staggering 56 percent of Americans aged between 18 and 24 lived at home with their parents, a five percent increase on 2007’s figure.

Among those aged 25 to 31, the percentage living with parents was, somewhat unsurprisingly, substantially lower. Still, between 2007 and 2011, this increased from 14 percent to 17 percent, before dropping slightly to 16 percent in 2012.

Why are so many younger Americans living at home with their parents? Economic, educational and cultural factors are having far reaching effects. The financial crisis has resulted in rising unemployment rates, preventing more and more young people from financing their own homes.

Meanwhile, college enrollment has risen. According to Pew, those enrolled in college are much more likely than those not in college to be living at home. Additionally, college students who live in dormitories during the academic year are counted as living with their parents. The final reason for the increasing percentages of young people living at homes is a decline in marriage. Naturally, in comparison to married couples, young and unmarried Americans are far more likely to be living with their parents.