Philadelphia is among the metropolitan areas with the highest percentage of adults living with their parents, writes Michael Kolomatsky for The New York Times.
Nationwide, the number of adults living with their parents has been growing steadily. The 2016 Pew Research Center report found that 15 percent of those between 25 and 35 still lived with their parents. In 2000, this was 10 percent, and in 1981, eight percent.
While the increasing cost of housing is a factor, it’s not the only one.
A recent analysis by the LendingTree MagnifyMoney blog ranks the 50 largest metropolitan areas according to percentage of adults between 25 and 40 living with their parents puts Riverside, Calif., in first with 28 percent. The city had a median sale price of $360,000 for a single-family home in 2018.
Seattle, on the other hand, was at $501,400, but there were only 12 percent of adults between 25 and 40 living with their parents.
Meanwhile, Philadelphia ranks seventh with 23 percent of adults living with their parents and a median sale price of $229,000.
More significant may be unemployment. The same age group averaged 8.6 percent unemployment in January, compared to 3.7 percent overall in metropolitan areas.
Read more about adults living with their parents in The New York Times here.