Want to move out of your parents’ house? Polls show millennials with college degrees more likely to live independently

Even as the American economy is picking up steam, the trend for Millennials, people born between 1981 and 2000, to move back into their parents home is not abating, creating a new norm in the steps to becoming an adult.

Here are some surprising stats.

1. There are a lot of people making the choice to extend the time living in their parents home.

According to the Pew Research Center 57 million people lived in a multi-generational family home, accounting for 18.1 percent of the population of the U.S. in 2012. The biggest growth has come from young adults (25-34) rising 11 percent since 1980.

2. They are the largest group of people living in a multi-generation home.

Historically it was older Americans that led the way in living in multi-generation homes. The Pew study from 2012 indicated 22.7 percent of people 85 and older live in a multi-generation home. Millennials have them beat though, at 23.6 percent.

3. The trend cuts across both sex and ethnicity.

Generally neither factor is linked to the increase multi-generation households, but for Millennials men are more likely to be living with their parents, but both sexes saw increases at about the same amount.

4. Marriage is the most likely indicator of living with the parents

In a recent story from Gallup, an influential polling agency, found individuals in the 24-34 age range were single and never married at a large rate – 75 percent. That is double the rate of millennials living on their own. Although nearly one in five have added a spouse to their parental home.

5. Employment is a major factor in the ability of millennials to live alone.

Gallup found that 50 percent of millennials living with their parents were employed full time, while their independent counterparts are fully employed at a rate of 67 percent.

6. Education is also an important predictor of living at home.

Forty-one percent of millennials living with their parents have no college, 31 percent have some college and only 28 percent are college graduates. For millennials living outside of their parents home 34 percent have no college, 28 percent have some college and 38 have a college degree. Out of the three groups, college graduates are the only group that generally have a better rate of living independently.

Sound Off!

%d bloggers like this: