Study: California Has 3rd Highest Rate Of Young Adults Still Living At Home
SACRAMENTO (CBS13) – A new study found that California has one the highest rates of young adults still living with their parents.
The study, which was released on Monday by Lattice Publishing, used the latest data from the U.S. Census Bureau's American Community Survey. It also ranked metro areas 100,000 or larger to see how they stacked up against each other.
California came with the third-highest rate of 25 to 34-year-olds still living at home. Only New Jersey and Florida had a higher rate.
Several of California's large metro areas (defined by the study as those with more than 1,000,000 people) also placed high on the list of most young adults still living with their parents. The Riverside-San Bernardino-Ontario metro was second only to Miami-Fort Lauderdale-West Palm Beach, Florida, while the Los Angeles area came in third.
The Sacramento-Roseville-Arden Arcade area also placed in the upper half of large metros with the most young adults living at home, coming in at number 22.
In terms of midsize metros (defined as those with between 350,000-1,000,000 people), California's Central Valley had several cities rank high on the list. Modesto came in at 14, while the Stockton-Lodi area followed at 19.
Yuba City ranked 12th in terms of small metros (those with 100,000-350,000 people).
The study found a negative correlation between young adults who still live with their parents and unemployment. The numbers showed that the unemployment rate was nearly double for people who still live at home. Further, their income was about 33 percent lower than the median of all young adults.
The numbers also revealed that, as a result of more people continuing to live with their parents, the size of the average US household has grown for the first time in 160 years.
Read the full study here.
