George Costanza. Robert Barone. Ryan Howard. TV shows love to make fun of adult characters living with their parents, but you can file this under something that is only funny until it happens to you.
According to NAHB economics research and Eye on Housing, as of 2014 the number of young adults ages 25 to 34 who are living with their parents or in-laws has risen above 20 percent, or 8.8 million. This is a large increase from 2000 when there was less than 4.6 million, or 12 percent, of people that age living with parents or in-laws.
A big reason for this sharp increase is because of a lack of income growth for people in this age group. Since 2006, this age group has had no growth in personal income while older groups saw an increase of almost 11 percent. With income that is remaining stagnant and home prices that are rising, the ability to purchase a home is waning.
Additionally, the income gap between 25 to 34-year-olds who are homeowners and those who are living at home increased as well. In 2014, the median personal income for individuals in this age group who were homeowners was $35,000, as compared to $15,000 for those living with their parents.
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