COVID-19 Sends More Young People Home to Their Parents

In line with the topsy-turvy world that’s been created by the Coronavirus pandemic, a majority of young adults likely eager to strike out on their own are instead moving in with family members. That trend poses a threat to new household formation as well as to rent rolls, according to several research reports.

As of July, 52% of 18-to-29 year olds were living with their parents, up from 47% in February, according to new research by the Pew Research Center. That level of young adults, who are members of Generation Z, moving home is the highest level that data point has ever reached. Before this year, the peak was 48% at the end of the Great Depression.