There's No Place Like Home: 31.5% of SF Millennials Live With Their Parents, Study Shows - NBC Bay Area
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There's No Place Like Home: 31.5% of SF Millennials Live With Their Parents, Study Shows

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    There's No Place Like Home: 31.5% of SF Millennials Live With Their Parents, Study Shows

    The secret is out, living with your parents is more common than you might think. A study by rental website Abodo showed that millennials are more likely to be living at home than on their own.

    (Published Wednesday, March 22, 2017)

    The secret is out: living with your parents is more common than you might think.

    A study by rental website Abodo showed that millennials are more likely to be living at home than on their own.

    The national average is 34.1 percent.

    San Francisco ranks 28th in the nation, with 31.5 percent of its millennials living at home. Of those, 9.2 percent of the millennials living there are unemployed, while of those who work, the median monthly income is $2,813.

    "We found that Millennials aren't living at home simply because of high rent prices across the country,” said Sam Radbil, Sr., communications manager at ABODO. “Other factors also contribute to Millennials living at home, including education level, student loans, unemployment and low pay.

    "Many Millennials are not only earning less than their parents did as younger adults, but the majority of Millennials who pursue college degrees are eventually saddled with an average student loan debt hovering around $30,000."

    This data is based on a research study done on metro areas with a population greater than one million.

    Of the 16 metro areas with the highest percentage of millennials living at home, number one is Miami-Fort Lauderdale-West Palm Beach, where a whopping 44.8 percent of 18- to 34-year-olds live with their parents. Close behind are Riverside-San Bernardino-Ontario at 44.5 percent and New York-Newark-Jersey City at 43.8 percent.

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