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The Real Deal Los Angeles

Failure to launch: More than 30% of L.A. millennials still live with their parents

New Zillow study shows massive increase in the number of 24-34 year olds staying home

May 05, 2016 09:30AM
By Katherine Clarke

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In Los Angeles, the kids are staying home.

An analysis by real estate listings website Zillow has found that 31 percent of millennials aged 24 to 34 are still living at home with their parents, a number that has been steadily increasing since 2005. Ten years ago, only 19.2 percent of L.A. millennials still lived at home.

That’s 10 percent more than the average for the U.S., which was 21 percent, up from 13 percent in 2005, according to Zillow’s numbers.

“With today’s high rents and lagging income growth, many young people are having trouble setting aside enough money to buy their own home, delaying home ownership,” said Zillow Chief Economist Dr. Svenja Gudell. “Living with their parents may allow young people to continue to do things like continue their education, save enough money for first and last month’s rent, or save for a down payment.”

The median rent in L.A. is $2,525 a month, according to Zillow. That number is slated to go up by 3.5 percent over the next year.

Over the past year, rents across the U.S. have increased almost 3 percent, while incomes have increased just 1.8 percent.

  • Obie Gibson

    I hope the upright conservative families aren’t indulging in this sort of baby pampering.
    After all, a freak kid living at home after 22yrs. old is typically a liberal culture thing.

    • cfbcfb

      That’s a good one.

      You forgot to say “Thanks Obama!”. Even though the recession that resulted in some of these problems happened on the last guys watch.

  • Dadoozer

    These would be the Bernie supporters. Millennials, everything should be free.

  • cfbcfb

    Dear kids still living in mom’s basement because they can’t afford their own place in LA:

    There are other places to live other than LA. Almost all of them cheaper. None which still cook your meals and wash your clothes though.

  • MouseFrank1990

    god so what, how many more stories are going to be done on this?

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