Various family trends shift over time. This includes trends on how common it is for younger adults to stay living with their parents. Statistics indicate that, here in the U.S., living with parents is a very common living situation for millennials.
It is estimated that nearly a third (32 percent) of people 18 to 34 in the U.S. are living with parents. This makes it the most common living situation among people in this age group.
A range of factors have been put forward as playing a role in this trend among millennials. This includes cultural factors, housing cost trends, general economic trends, debt trends and education-related trends.
It appears that living with parents is a particularly common living situation for millennials here in Southern California. A couple of regions in the Southern California area cracked the top five for U.S. regions with the highest percentage of adults ages 18-34 living with parents. In both regions, it is estimated that over 40 percents of adults in this age group live with parents. The regions in question are the Los Angeles-Long Beach-Orange County region and the Riverside-San Bernardino metro region.
Cultural and economic factors specific to Southern California may be contributing to the especially high occurrence of millennials living with parents in the area.
For parents, there are certain situations in which their kids continuing to live with them well into adulthood can raise some special issues. This includes when parents are getting divorced. For example, one common significant property division issue in a divorce is what will be done with the family home. When parents who are heading into a divorce have an adult child who lives with them, it could present some special considerations regarding how this specific martial asset is handled, as what happens with the family home in the divorce could have implications for their adult child’s living situation. Skilled divorce lawyers can advise divorcing parents who have an adult child living with them on the unique issues their family situation raises in their divorce.
Source: The Orange County Register, “Why millennials living with their parents has become the norm in Southern California,” Ian Wheeler, June 23, 2017