Boomerang Kids: Warm Weather Cities Are Seeing Grown-Up Kids Move Back In With Their Parents As Multigenerational Living Soars
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Free rent and mom's home-cooked meals. What's not to love? Many young adults have overcome the stigma of living with their parents to save on housing costs, according to data from the U.S. Census Bureau analyzed by online loan marketplace LendingTree.
Across the 50 largest metro areas in the U.S., nearly 12% of employed adults live with their parents, LendingTree found. Not surprisingly, multigenerational housing is most prevalent in expensive sun-soaked U.S. cities, such as Los Angeles and Miami.
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'In previous generations, moving back in with mom and dad might have been a sign of defeat or failure, but it's not really seen that way now,' Matt Schulz, LendingTree's chief consumer finance analyst, told the New York Post. 'People are much more practical, and people see the value in spending a little time with their parents.'
Using data from the 2018 and 2023 U.S. Census Bureau American Community Surveys, LendingTree found that economic factors were the main reason adults aged 25-40 decided to move back home. Whether it's the high cost of housing in California or the limited job opportunities in places such as Detroit, more than ever, young adults are seeking refuge with their parents.
'If they're living with Mom or Dad, they're able to pay less for rent, groceries and other basic bills, allowing them to stash money away in an emergency fund, save for a car or mortgage down payment, or even get a head start on retirement savings,' Shultz said. 'It may not be the sexiest, but it can make an awful lot of sense.'
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The LendingTree report showed that Riverside, California, had the most adults in the country (22%) living with their parents, with Los Angeles (20%) and Miami (18%) close behind.
The report also showed that adults who live at home generally make 43.5% less on average than adults of the same age who live independently — earning around $41,000 per year compared to $70,000 for those who don't.
Although multigenerational housing has increased in certain sections of the country, such as Las Vegas (22%), Cleveland (16.7%), and Sacramento, California (8.1%), in many less expensive areas, including Oklahoma City, Nashville, and Minneapolis, it has dropped substantially.The video-game-playing, basement-dwelling cliché of deadbeat kids living with their parents long into adulthood doesn't hold for LendingTree's research. Nearly 12% of adult children living at home hold a bachelor's degree or higher. It is sheer economic savings that motivate them to seek parental refuge.
The study shows that, on average, if they chose to live on their own, they would need to allocate more than 40% of their monthly income to rent a one-bedroom apartment, which in many areas is not feasible.
The National Association of Realtors' 2025 Home Buyers and Sellers Generational Trends Report found that 21% of Gen X buyers have purchased multigenerational homes, followed by younger baby boomers aged 60 to 69.
'The rise in multigenerational home buying underscores a broader trend driven by economic necessity and evolving family dynamics, as it offers a practical and supportive living arrangement that resonates with many families, particularly in times of economic uncertainty and changing social dynamics,' Amethyst Marroquin, a research assistant for NAR, explained.
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This article Boomerang Kids: Warm Weather Cities Are Seeing Grown-Up Kids Move Back In With Their Parents As Multigenerational Living Soars originally appeared on Benzinga.com
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