Tuesday, May 15, 2018

Congratulations, and Welcome Home

Is someone in your family graduating from college this spring? More graduates are walking across the stage to pick up their diplomas—and then walking right back home to mom and dad’s house. The share of recent graduates moving back into their parents’ homes jumped to 28 percent in 2016 from 19 percent in 2005. 

The trend is most pronounced in areas particularly affected by the housing bubble of the late 2000s. Those areas include Las Vegas and Riverside, California, according to real estate site Zillow’s recent analysis of U.S. Census data, as well as perennially expensive cities like New York City.

In fact, New York had the second highest share of college graduates living with mom and dad in 2016 of any city in the nation, with 42 percent. Only Miami, which had 45 percent of grads living with their parents, was higher.

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