Thursday, June 2, 2016

REAL ESTATE TOPICS...LIVING WITH PARENTS EDGES OUT OTHER LIVING ARRANGEMENTS

LIVING WITH PARENTS EDGES OUT OTHER LIVING ARRANGEMENTS FOR 18- TO 34-YEAR-OLDSBroad demographic shifts in marital status, educational attainment and employment have transformed the way young adults in the U.S. are living, and a new Pew Research Center analysis of census data highlights the implications of these changes for the most basic element of their lives – where they call home. In 2014, for the first time in more than 130 years, adults ages 18 to 34 were slightly more likely to be living in their parents’ home than they were to be living with a spouse or partner in their own household. 

This turn of events is fueled primarily by the dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35. Dating back to 1880, the most common living arrangement among young adults has been living with a romantic partner, whether a spouse or a significant other. This type of arrangement peaked around 1960, when 62 percent of the nation’s 18- to 34-year-olds were living with a spouse or partner in their own household, and only one-in-five were living with their parents.

By 2014, 31.6 percent of young adults were living with a spouse or partner in their own household, below the share living in the home of their parent(s) (32.1 percent). Some 14 percent of young adults were heading up a household in which they lived alone, were a single parent or lived with one or more roommates. The remaining 22 percent lived in the home of another family member (such as a grandparent, in-law or sibling), a non-relative, or in group quarters (college dormitories fall into this category). 

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