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Your Adult Kid Will Probably Move Back in With You

Father and Son Loading Car in Front of Dorm
Photograph by Getty Images/Fuse

Better start saving for your kids' college funds (and post-college needs) a little bit earlier, because the percentage of 18- to 24-year-olds living at home (or living in a dormitory room funded by parents) is a staggering 56 percent, according to the NY Times, which got its data from PEW research.

The numbers are record highs, as Census Bureau data has revealed that 36 percent of Millennials are still living at home. But let's break down the numbers a little bit to get a better perspective. Millennials are described as between the ages of 18 and 31, and "living at home" includes kids living in a dorm at college.

The surprising thing, though, is this 36 percent is actually significantly higher than the number from 2007, 32 percent, which is when the recession began. So although the economy is slightly better than it used to be, more kids are choosing to live at home because they don't have a job or in order to save money (which, the NY Times author suggests, contributes to a sluggish economy turnaround, as kids aren't moving out to their own apartments with decorating costs like furniture and art, as well as housewarming parties and other expenses common with moving).

One last interesting tidbit? Women are still more likely to move out of the house than men are, with about a 10 percent difference (50 percent of women ages 18 to 24 vs. 60 percent of men ages 18 to 24 move back in with their parents. This difference is roughly the same for ages 25 to 31, with women a little above 10 percent, while the men are at 20 percent.

Explore More: college, In The Loop
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