Despite the common stereotype of a recent college grad Millennial who is living at home in Mom and Dad’s basement while struggling to find a job, it is actually older Millennials, many of whom do not have a college degree, who are driving up the numbers of Millennials still living at home.
As The Washington Post reports, the number of people ages 25 to 29 who live with a parent has increased 7 percent, from 18 percent up to 25 percent, from one decade ago. Additionally, another 13 percent of Millennials ages 30 to 34 are still living at home, up from 9 percent.
A challenging job market, especially for men between the ages of 25 and 34, may be the main culprit. 5.7 percent of men between the ages of 25 and 34 are unemployed, which is a full point lower than older men. Another major factor is education. 15 percent of older Millennial men with a college degree still live at home while 26 percent of older Millennial men with only a high school degree still live at home.
In 2014, overall, 21.1 percent of men ages 25 to 34 and 16.6 percent of women in this same age group were living in their parents home.