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A quarter of all young adults ages 25 to 34 are more likely to live with their parents, grandparents or older siblings — nearly tripling over the past half-century, according to a recently released report.
The Pew Research Center said the number for that age group is up from 9% in 1971, WUSA-TV (Channel 9) reported.
A Pew survey conducted in October found that financial issues such as student debt and housing costs are key factors, WUSA reported. Young adults who don’t have a college degree tend to stay with their families more than those who have at least a bachelor’s degree.
People living with parents or extended family are less likely to be poor than those in other households, according to Pew’s research. Young adults contributed 22% of their income to multigenerational housing in 2021, compared to 37% of earnings of those married or head of a household.
The survey found that 68% of young adults lived with one or both parents while another 14% resided with non-parents such as a grandparent or sibling. Latino, Asian and Black young adults were also more likely to live with parents or extended family than whites.