One THIRD of adults aged 18 to 34 are living at home with their parents

  • Almost one-third - 29 per cent - of adults aged 18 to 34 are living at home with their parents
  • Increasing student loan debts, a tough job market and a propensity to marry later are all factors

By Alex Greig

Published: | Updated:

Almost one-third of Americans aged 18 to 34 are still living at home with their parents.

Official figures show that 29 per cent of adults aged under 35 are living at home with their parents, and 51 per cent of those aged between 18 and 23 have yet to fly the nest.

Deutsche Bank's Torsten Slok has graphed the rise of adults in this position in his latest monthly chart book, reports Business Insider.

Staying put: Almost a third of U.S. adults are living at home with their parents

Staying put: Almost a third of U.S. adults are living at home with their parents

The graph shows that since the early 2000s, the number of 18 to 34-year-olds still sleeping in their childhood bedrooms has risen dramatically.

The reasons are many.

Increasingly, a college education is the bare necessity to qualify a person in a tough job market, and tuition costs are rising rapidly.

As young people enter the job market, a time when they are most financially vulnerable and likely to earn a low wage, they are saddled with the huge debt of their education.

And that is only if they succeed in gaining employment in a very challenging job market.

According to Business Insider, this has resulted in an inceasing rate of delinquency, with students unable to afford payments on their student loan debts.

Factors: A tough job market, increasing student loan debts and the propensity to stay single for longer are all contributors to the trend

Factors: A tough job market, increasing student loan debts and the propensity to stay single for longer are all contributors to the trend

The rate of U.S. home ownership has fallen to a 19-year low, with tight mortgage credit, especially for first-time homeowners. More young people may be staying home to save to buy their house, or unable to afford market rents.

According to a recent Gallup poll, adults living at home are more likely to be single and unmarried, which could reflect a trend for marrying and having children at a later age, with 75 per cent of people aged 24-24 living at home single and never married.

Unmarried young people are six times more likely to live at home than married couples, reports The Atlantic.

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