How millennials live, in four charts
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Nearly a third of millennials still live with their parents, and about four in 10 older millennials live with children, according to Census Bureau data released this week. Millennials — the oft-marketed-to generation of 18- to 34-year-olds — make up a third of the labor force, and they’re a generation in transition. How do millennials live? And with whom? Let’s do the numbers:
“Son, when will you move out?”
Many more millennials have lived with their parents since the financial crisis. Many millennials can’t work out the math to become a homeowner. There are also remaining nightmares of underwater mortgages. These seem to be big challenges especially for men. A lot more of them remain at their parents’ homes than women do. The good news: as the economy recovers, more older millennials started to move out of their parents’ homes after 2012.
“If we want to stay friends, we’d better not live together.”
Much fewer millennials are choosing to live with non-related roommates compared to a decade ago. Picking random roommates or living with friends has fallen out of fashion as more young people live with their relatives or opt to live alone.
“Will you marry me?” “No, I won’t.” “Will you reside with me? Yes! I do!”
Millennials have the lowest marriage rate ever, and young millennials who live together are less likely to be married. That’s a marked difference from just a decade ago, and older millennials are on the same path, though their rate of marriage is declining more slowly. Those couples are even starting families; three in ten millennial parents living together are unmarried.
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