There’s been a dramatic spike in the number of Americans living in multi-generation households. According to a new Pew Research Center analysis, based on stats from the US Census Bureau, a record 57 million Americans — or 18.1% of the total population — now live in a multi-generational family home. That’s double the number of 1980.
Young adults (25-34) are the group most affected. Roughly a quarter (23.6%) live in multi-generational households, compared to 11% in 1980, and overtaking the oldest adults as the group most likely to live in multi-generational households. Historically, the oldest adults (85-plus) were the leading group as many of them moved in with adult children for reasons of caregiving or other assistance needed in the final years of their lives.
But now it’s the young adults who are driving the trend, and there’s little doubt that it’s just another part of how the Millennial generation is delayed in hitting the “traditional” benchmarks of adulthood. They’re marrying later, having kids later, earning decent money later. And, the flip side — living at home with mom and dad longer. The bottom line on multi-generational households should come as no surprised for those of you who have been following these trends in my books and here on this blog.
Read the whole report here.