Here's how many millennials are living at home in every US state
According to recent data analyzed by the real-estate tracking company Trulia, the last time this many young Americans were living with a parent, relative, or sibling, it was 1940 - just one year out from the Great Depression.
More than 70 years later, the reasons for the trend are pretty much the same: The opportunity costs of going out and finding an apartment by yourself, or with another cash-strapped roommate, far outweigh just staying home with Mom and Dad.
Not every state is equal, however. In fact, Here's how today's landscape looks:
Andy Kiersz/Business Insider
There's also a clear urban-rural split in the state data: States on the coasts generally have higher rates of people living at home than people in the landlocked states in the middle and toward the northwest - another possible indication that housing costs are simply too overwhelming for young people.
"I don't think those are challenges that are going to keep young households permanently out of the housing market, but it may keep their homeownership rate near historic lows for likely the indefinite future," Ralph McLaughlin, Trulia's chief economist, told the Wall Street Journal.
And perhaps in certain regions of America more so than others.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador