Grown adults won't have to go far to celebrate Mother's Day in El Paso, TX this year. Zillow's latest analysis found that El Paso has the greatest percentage of millennials age 24 to 34 living with their moms. Other places with a large percentage of millennials living at home with Mom are Miami, Philadelphia, and Riverside, CA.
The percentage of 24-34 year olds who live with Mom has been steadily increasing in the U.S. for the past several years. In 2005, 13 percent of millennials were living with their mothers. That number is now up to 21 percent.
Rents are continuing to rise, which may be why so many young adults are crashing with their moms. The median rent in the U.S. is $1,389 per month and expected to increase almost 3 percent over the next year.
Culture also plays a role - many of the places with a large share of millennials living at home also have communities with a large Hispanic population. Zillow research shows that Hispanic families are more likely to live in multigenerational households than other ethnic groups.
Omaha, NE has the smallest percentage of young adults living with Mom - just 11 percent. Other places low on the list of millennials living with their moms include Seattle, Denver, and Portland.
In honor of all the moms out there, here's a list of the top 10 places with the most millennials living at home:
For more information on this analysis, check out Zillow Research.
from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/millennials-living-with-mom-197241/
via Reveeo
No comments:
Post a Comment