2020 showed the U.S. that young adults living with their parents is the new normal.
According to the U.S. Census Bureau, 34.4% of Americans between the ages of 18 and 34 live with at least one parent, grandparents, or former guardian.
That number goes up when you look at adults under 29. According to the Pew Research Center, 52% of adults between 18 and 29 years old live with their parents.
The last time when so many adult Americans lived with mom and dad was during the Great Depression in the 1940s. Just like during that time, money is one of the main reasons why adults are OK with calling their parents their roommates. Financial reasons for moving back include job loss and housing shortages.
Others motivating factors for moving back home included colleges being closed or because they wanted to be closer to family during the pandemic.
The number of adults in this housing situation greatly varies from state to state. New Jersey has the highest percentage of 18-34 year-olds living with parents with 45%, while only about 14% of young adults are living with mom and pop in North Dakota.
In Indiana, 29.9% of 18-34 year olds live with their parents, according to 24/7 Wall St.
Young adults are more likely to live independently in Indiana because of the cost of living is much more affordable than the rest of the country. The state also benefits from a lower than average unemployment rate.
The monthly jobless rate in Indiana is 4.7%, while the national rate is 6.2%.
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