For a growing number of young Americans, moving out of their parents’ house just isn’t affordable anymore.
Housing costs have been rising faster than incomes for more than two decades, while rents and home prices continue to climb.
The trend accelerated during the pandemic, when a majority of Americans ages 18 to 29 lived with at least one parent for the first time since the Great Depression, according to Pew Research Center.
Even today, nearly half of adults under 30 live at home, the Federal Reserve says, as high housing costs and stagnant wages continue to put independent living out of reach for many.