Young adults living with parents increased over two decades
The number of young adults aged 25 to 34-year-olds living with parents has risen by over a third in almost two decades, the Institute for Fiscal Studies (IFS) has found. This is largely driven by men and those in their late 20s.
High rents and rising house prices were among the biggest factors that contributed to this. In 2006, around 13% of people in the UK in that age group were living with parents but last year, that had increased to 18%, the IFS, an independent economic think-tank found.
That means that around 450,000 more young adults are still living with parents in the family home, with those in their late 20s being the largest contributors to the increase.
Men were more likely than women with 23% compared with just 15%. The age group has also changed in recent decades, the IFS said, being less likely to be married and have children. It also highlighted ethnic makeup with UK-born young adults from Bangladeshi and Indian backgrounds being more likely to be living with parents.
The peak of this was during the pandemic when over a fifth of 25-34-year-olds were staying at home.
Finances, according to the IFS was a major cause that was contributing to this.
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