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Report: Young Adults Struggle for Independence as Costs Rise

Roughly 25 percent of U.S.adults ages 25 to 34 lived in a multigenerational household in 2021, up from 9 percent in 1971, according to data analysis from Pew Research Center.

Report: Young Adults Struggle for Independence as Costs Rise

. Living in a multigenerational household is “increasingly proving a respite” from skyrocketing housing costs, various debts, and inflation, which continues to rise under the leadership of President Joe Biden and Democrats. Pew Research defines multigenerational living as “living in a household that includes two or more adult generations.” While the share of of all adults living in a home that include two or more adult generations has increased, growth has occurred fastest among adults 25-34. “In 1971, similar shares of adults across age groups lived in a multigenerational household, but by 2021, young adults were far more likely than older Americans to have this type of living arrangement,” according to the report. The Pew Research Center analyzed U.S. adults between 25-34 living in multigenerational households by looking at data from the Annual Social and Economic Supplement (ASEC) of the Current Population Survey (CPS), which is conducted every year in March.

The CPS is a is a month survey of roughly 70,000 households conducted by the U.S. Census Bureau and Bureau of Labor. Pew Research Center found that multigenerational living among 25-to-34-year-olds without a college degree tripled, whereas it doubled among those with at least a bachelor’s degree. Those rates are markedly different from 1971, when multigenerational living among young adults did not vary according to years of education. The most common arrangement for young adults unable to live on their own is to live with their parents. Last year, 68 percent of 25-34-year-olds in multigenerational homes were living in the home of one or both parents. Fifteen percent lived in their own home with a parent or older relative, 14 percent lived in a home headed by a family member, and 3 percent with a partner or roommate. “The share of young adults who live in a parent’s home rose from 8 percent in 1971 to 17 percent in 2021, while the share in other multigenerational living arrangements rose from 1 percent to 8 percent,” the report states. Adults in this age bracket and living situation were more financially secure living with two parents than one or no parents, Pew Research Center found. Increased financial stability of living with two parents could be the result of greater household income, a lesser likelihood of poverty, and a greater likelihood of young adults achieving higher education. On average, 25-34-year-olds contribute on average 22 percent of overall household income last year. This demographic contributed 20 percent when living with a parent, and 37 percent if the young adult or their spouse headed the household.

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