The share of young adults who have returned to living with their parents after first moving out on their own has risen to the highest point since 1960. According to new data from the National Association of Realtors, the share of 25 to 34 year old’s living at home rose to 17.8 percent in 2020 and remained near that level throughout 2021 as well.
“Some young adults may have recently moved back home due to the flexibility of remote work trends and to avoid paying high rents,” said NAR’s vice president of demographics and behavioral insights, Jessica Lautz. “Others may be at a family member’s home due to job losses or while virtually attaining higher education goals.”
Lautz notes however, that temporarily living with family could better set up a young adult to purchase their first home. Without needing to make monthly rent payments, first time buyers can save up for homeownership and pay off debts.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.25 percent.
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