May 7, 2012

Living with Mom and Dad? It’s a ‘Good’ Thing

24%

Nearly one-in-four (24%) of adults ages 25 to 34 who live with their parents say their living situation has been a ‘good’ thing.

With the difficult economy in recent years, a greater share of young adults live in multi-generational households than in the previous several decades. But the so-called “boomerang generation” does not seem to feel there is a stigma attached to living with their parents. In fact, 24% of those surveyed said living with their parents at this stage in their life has been “good” for their relationship; 48% said it has had “no difference” on their relationship and 25% said it was “bad”’ for their relationship.

The Pew Research Center’s March 2012 analysis of U.S. Census data shows that the share of Americans living in multi-generational family households is the highest it has been since the 1950s, having increased significantly in the past five years. Adults ages 25 to 34 are among the most likely to be living in multi-generational households: In 2010, 21.6% lived in this type of household, up from 15.8% in 2000 (the vast majority were living with their parents). The share of 25 to 34year-olds living in multi-generational households was at its lowest in 1980 (11%) and has risen steadily since then, spiking upward since the recession started in 2007.

Young adults who live with their parents remain upbeat about their futures. Among the three-in-ten young adults (29%) who’ve been living in that situation during the rough economy of recent years, large majorities say they’re satisfied with their living arrangements (78%) and optimistic about their future finances (77%). Read More