More than 15% of millennials lived with their parents in 2022, according to the latest figures from the Census Bureau. That is an 87% increase in the past 20 years.
Why are so many young people still living with their parents? Are Generation X parents really that fun to hang out with?
A deeper dive into the data shows that is probably not the case.
See if you can spot what these cities with the highest percentage of millennials living with their parents have in common: Riverside, California, 28.3%; Stockton, California, 27%; Los Angeles, California, 25.5%; and Modesto, California, 24.9%.
Yes, these are all California cities where it is hard for young people to buy a home. And without a home to move into, more and more millennials are skipping out on dating and marriage altogether. Turns out it is hard to have a love life when your parents are your roomies.
Overall, just 44% of millennials are married, compared to 53% of Gen Xers and 61% of boomers at the same age.Â
Why the big gap?
Yes, millennials seem to value career and travel more than previous generations, but again, when you look at which cities have the highest marriage rates among millennials, it appears that housing costs are playing a big factor.
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The best large city for millennial marriage rates is Salt Lake City, at 52.5%. OK, that one is more of a story about religious beliefs affecting marriage rates, but No. 2 is Grand Rapids, Michigan, with 50.2%. No. 3 is Dallas, Texas, with 49%, and No. 4 is Raleigh, North Carolina, with 48.5%. None of those cities is known for large Mormon populations.
What those cities do have in common are vibrant economies coupled with affordable housing markets. Give millennials a job and an affordable home, and they’ll get married and start having children like it was the 1950s.