Millennial Mobility Rates Are Down Compared To Previous Generations

When they were between the ages of 25 and 35, around a quarter of all Gen Xers, Baby Boomers, and members of the Silent Generation moved to a new home each year. Millennials today, however, are staying put.

Pew Research found that in 2016, only 20 percent of people between 25 and 25 reported having lived at a different address from a year ago.

Interestingly, trends associated with Millennials should make it easier for them to move. Compared to older generations, young adults today are less likely to have a spouse, child, or house, things that are usually obstacles for moving.

Young adults today, though, have to deal with large amounts of student debt, tightened lending standards, and expensive housing and rent prices.

Labor market opportunities may be a factor. Millennials were hit hard by the Great Recession in terms of job-holding and wages. For many young adults who moved in the past year, job opportunities were a prime motivation for moving, and the modest jobs recovery may not be providing the impetus Millennials need.

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