Sorry, parents! Your grown-up kids dont want to leave the family home in these sun-soaked US cities

Few dream of living with their parents into adulthood, but it’s a reality for many. An average of 11.8% of working adults still live with their parents, a new study by LendingTree found.The analysis of 50 major US metros revealed where adult children are less likely to leave the nest.

Sunny — and expensive — cities in California and Florida stood out.  Matt Schulz, LendingTree’s chief consumer finance analyst, told The Post that the results were a clear “sign of the times.” “In previous generations, moving back in with mom and dad might have been a sign of defeat or failure, but it’s not really seen that way now,” Schulz said.“People are much more practical, and people see the value in spending a little time with their parents.”More than one in five working adults in Riverside, Calif.

live with their parents, according to the study.Nearby Los Angeles is a close second at 20% of adults, followed by Miami at 19.8%.The data, drawn from the 2018 and 2023 US Census Bureau American Community Surveys, reveal a mixture of economic motivators for adults between the ages of 25 to 40 to stay at home. In Riverside, a prohibitively high cost of living likely motivates adults to stay under their parents’ roof and save, Schulz said.

Meanwhile, in cities like Detroit, the 15.6% of grown-ups still living with their parents may feel the pressures of low wages and limited job opportunities. On the flip side, metros with fewer pricing extremes and steadily increasing housing supply allow for more empty nesters, and kids with their own places.Hint: They’re the places that grew most during COVID-19.Austin, Texas; Raleigh, NC; and Denver have the lowest rates of adults living at home, ranging between 5.8% in Austin to 7% in Denver.

Schulz attributed the highly independent adult populations of these cities to booming development and high purchasing power.“It’s really hard to overstate the importance of cost of living in terms of where people live,”...

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Publisher: New York Post

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