Americans aged 18-30 see living with parents as a path to success
Almost half of young Americans live at their parents’ home to save money
In 2020, due to quarantine restrictions, a record 50% of Americans aged 18 to 29 moved in with their parents. However, by 2023, this figure decreased to 45%, reaching levels seen in the 1940s.
The societal perspective on living with parents has shifted, with 90% of Americans viewing it as a reasonable and pragmatic choice, rather than a sign of financial failure.
Surveys indicate that the primary motivation for living with parents is financial savings (41%). Among financial considerations, young people cite sharing family expenses (28%), reducing utility bills (24%), addressing debts (19%), and striving to improve their financial situation (16%). Only 10% of American adults under 30 choose this living arrangement due to job loss and financial constraints.
Interestingly, a growing trend in China involves a new profession known as “mom’s personal assistant,” where young adults monetise household responsibilities to cope with unemployment, with families paying them for tasks like cleaning and cooking while covering housing costs.
