newswire: 9/16/2020
- As of July, the share of young adults living with their parents has risen to the highest rate (52%) ever recorded. The growth has mostly occurred at the younger end (ages 18 to 24) and among whites. (Pew Research Center)
- NH: For many years Pew has regularly delved into CPS data (generated by Census) and reported on the share of young adults living with their parents. In July, it ran its own survey to estimate the immediate impact of the Covid-19 lockdown on living arrangements. (See “Pandemic Accelerates Moving Back Home.”)
- Now Pew is revisiting the latest CPS monthly data and offering a more definitive look at how many Millennials have moved back into their parents' homes.
- Bottom line: In July 2020, just over half (52%) of Americans ages 18-29 reported living with their mom and dad. This is up 5 percentage points from February, just before the lockdown began. It's also up 5 percentage points from July of 2019.
- Compared to earlier decennial Census readings, this is now the highest share of young adults living with their parents ever recorded--which means since 1900, when Census first started collecting this information. Now, for the first time, this share is higher than it was in 1940, when America was still mired in the Great Depression.
- Between February and July, the largest increase was in the younger half of this age group. The 18-24 bracket had an 8 point increase, while the 25-29 bracket had only a 2 point increase. In absolute numbers, that's a +8% and +13% increase, respectively. Those in the younger group have been most likely to lose their jobs and (if living off-campus at college) have been most likely to be "sent home" as the colleges closed. (Technically, youths living in college dorms are regarded by Census as still living with their parents--so their status has not changed.)
- The largest increase by race and ethnicity has been among whites and Asians. Between February and July, the share of whites living with their parents increased by 7 points and the share of Asians increased by 6 points. Blacks and Hispanics saw only a 4 and 3 point increase. Because larger shares of blacks and Hispanics were already living with their parents before the pandemic hit, it may be that fewer of them needed to relocate.
- Covid-19 and the current economic crisis is thus accelerating a lifestyle dynamic--toward multi-generational households--that has already been underway for at least the last two decades. Increasingly, Millennials are choosing to live more with their parents as well as with each other. And in the wake of the pandemic, ever more of them are making this choice for many of the same motives that drove them before the pandemic: togetherness and affordability. (See "Household Formation: Why Is It Declining--and Where Is It Going? and "Why Americans Are Spending More On Home Improvement.")
