WASHINGTON — Young adults ages 25 to 34 are more likely than ever to be living in with their parents, grandparents or older siblings, according to new research from the Pew Research Center.
The survey, conducted in October 2021, found that 1 in 4 young adults within the age range lived in multigenerational homes, meaning a household with two or more adult generations.
A large contributor to the spike is financial pressures amid rising student debt and housing costs. The growth in young adults living in multigenerational arrangements is especially prevalent among those without a college degree, who tend to earn less than those with at least a bachelor's degree.
The second biggest contributor was caregiving, the survey found.
Research finds there might be a financial benefit in multigenerational living arrangements as it appears to buffer the brunt of poverty. Americans living with parents or extended family are less likely to be poor than those in other households.
According to the survey, young adults contributed 22% of their income in multigenerational homes in 2021. In contrast, young adults who were living with a spouse or were the head of the household contributed an about 37% of their earnings.
Living with your parents is the most common housing arrangement for young adults, according to the new data. In 2021, 68% of those young adults were living in a home with one or both parents. Another 14% were living with family members other than parents, like a grandparent or sibling.
Hispanic, Asian and Black Americans were also more likely than White Americans to live with parents or extended families, according to Pew's research.
The survey of about 10,000 U.S adults showed numbers nearly tripled since 1971, where 9% of young adults lived in these arrangements, according to the new research data.