Half of Young Americans Still Live With Their Parents — Highest Rate Since the Great Depression
UNITED STATES — A new Pew Research Center study has revealed a striking generational shift: nearly half of Americans aged 18 to 29 are currently living with their parents — the highest percentage recorded since the Great Depression.
The report cites a combination of economic strain, high rent prices, student loan burdens, and stagnant wages as the primary drivers behind the surge in multigenerational living.
A Generation Under Pressure
According to the study, even young adults with full-time jobs are struggling to afford independent housing, especially in major metropolitan areas where rent and home prices continue to soar.
Experts note that the COVID-19 pandemic played a major role in accelerating the trend, as job losses and inflation forced millions of young Americans to move back home for financial security.
“The cost of living has far outpaced wage growth,” the report explains. “For many young adults, living with family is no longer a matter of preference — it’s a necessity.”
Changing Meaning of Adulthood
Sociologists say this shift is redefining the meaning of adulthood in modern America. Traditionally seen as a sign of failure or dependence, staying with parents is now viewed by many as a strategic financial choice rather than a setback.
In previous generations, milestones like home ownership, marriage, and financial independence were often achieved by the late twenties. But today’s young adults face a very different economic reality — one where affordability gaps and debt accumulation delay those goals.
Experts Weigh In
The Pew Research Center notes that 50% of Americans aged 18–29 living with their parents mirrors levels last seen in the 1940s, during the economic turmoil of the Depression era. Analysts warn that without significant relief in housing affordability and wage growth, the trend could persist for years to come.
Financial experts interviewed by CNBC emphasize that this movement is also reshaping social dynamics — with many families adapting to longer-term multigenerational living as a new normal.
“It’s not a failure to stay home,” one economist said. “It’s a rational response to an unsustainable economy.”
For many, the study paints a clear picture of a generation caught between rising costs and shrinking opportunities — making the family home not just a fallback, but a financial lifeline.
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