They’re the ‘nest’ generation.
Gen Zers and young millennials aren’t flying the coop. They’re living at home with their parents in greater numbers than any generation in recent history.
54% of Gen Z are choosing to live with their parents given the current economic climate, according to a new report of over 300 adults ages 18 to 25.
The study found that one-quarter of US adults ages 25 to 34 were living in a multigenerational family household in 2021.
But in comparison, in 1971, just 9% of adults of the same age were living in a multigenerational home, while in 2011, roughly 20% were.
While inflation and the overall state of the economy are driving the trend, another Pew study, from 2020, found that there was an even greater percentage of 18- to 29-year-olds living with their parents than there was during the Great Depression. Some young adults readily admit that they’re just not ready to adult.
According to the Harris Poll, just one-quarter of Gen Zers can pay all of their bills on time.