A recent analysis by LendingTree looked at where in the country adults are living with their parents. The results were posted on LT’s Magnify Money blog.
Largest share of 25-40 year olds Living with Their Parents
28% Riverside CA
$360,000 median home price
28% Miami FL
$350,000 median home price
27% Los Angeles
$590.800 median home price
25% New York
$410,000 median home price
23% San Antonio
$228.000 median home price
23% New Orleans
$210,100 median home price
23% Philadelphia
$229,000 median home price
22% Providence RI
$292,500 median home price
22% Baltimore
$285,600 median home price
21% Orlando
$256,000 median home price
In 2016, the Pew Research Center found that 15% of adults ages 25-40 lived with their parents; in 2000, 10% of adults with their parents; and in 1981, 8% of adults ages 25-40 lived with their parents. Clearly, these percentages are moving upward.
Common thinking is that adults are living with their parents due to housing costs however, if you look above, you’ll see that number one ranking Riverside has a lower median home price than Los Angeles or New York, and looking below, a lower median home price than Seattle.
Perhaps a more significant factor may be unemployment rates. In January 2019, number one ranking Riverside had an unemployment rate of 8.6% compared with the national overall unemployment average of 3.7.
Smallest Share of 25-40 year olds Living with Their Parents
13% Columbus Ohio
$201,800 median home price
13% Nashville
$260,500 median home price
13% Austin
$315,900 median home price
12% Portland OR
$395,700 median home price
12% Denver
$449,900
12% Indianapolis
$$187,100 median home price
12% Kansas City MO/KAN
$206,500 median home price
12% Raleigh NC
$283,600 median home price
12% Seattle
$501,400 median home price
12% Minneapolis
$273,400 median home price
