Everyone loves to give millennials a hard time. They don’t like cars, they aren’t getting married, they aren’t “go-getters.” Even Martha Stewart recently took them to task in LLNYC last cover story.
But love them or hate them, they aren’t buying homes. Nearly a third of millennials are living with their parents into adulthood.
Now, a new study is helping us visualize where millennials are still staying at home – and where they are diving into the real estate market.
It should come as no surprise that in states where the real estate market is the most competitive, the number of millennials living with their parents increases. For example, New Jersey has the highest number of stay-at-home millennials, with 43.9 percent of its millennial population refusing to move out, according to Curbed.
Just behind Jersey, Connecticut clocked in with 38.8 percent. And in New York, 37.4 percent of young people are unable (or unwilling) to rent or buy for themselves.
Check out the map below created by Stateline from 2014 census data.
Visualization of young adults living at home based on census data from IPUMS-USA, University of Minnesota (Image credit Stateline)
[Curbed] –Christopher Cameron