3 Reasons Why Most Young Adults Are Crashing With Our Parents, Backed by Research

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"Where are you living?" "With my parents." Loudly rings the ensuing silence. It's an awkward conversation to have, especially when the ones asking are older folks who shot straight from college into mortgages and homeownership. Sometimes, it feels as if people just don't get it.

The days of young people going straight from college to homeownership are dying, if not dead. Among those ages 18 to 24, 57% are living with a parent today, compared with 53% in 1993, according to Pew Research . The same study finds 25-and-ups are also living with parents.

I lived with my parents for a handful of years during and after college. I wasn't thrilled to move back in as a working adult, but there were major perks. Here are three of the biggest.

1. Avoid student debt

When weighing my college application, I needed to decide whether to attend a well-known university for $80,000 annually or a lesser-known one for $40,000. Despite wanting to shell out, I chose the cheaper option. I've heard too many stories about people stuck paying off educational debt.

This is the financial calculus going in the brains of young adults everywhere. The share of young people with loans for school has risen across all age groups (see the following table).

Living with parents can help reduce debt by shrinking living expenses, both during and after college. Why rent when you can commute from home?

2. Make rent cheaper (for everyone)

Living with parents makes rent more affordable.

According to Pew, 64% of young adults living with parents say it helps with their finances. When I lived with my parents, I saved at least $1,000 per month on rent, the biggest budget breaker. More, when you count food and utilities. It wasn't a purely one-way arrangement, either.

Living with parents makes rent cheaper for kids and parents. When you split the rent, it's easier on everyone. According to Pew, 74% of young adults contribute to household expenses. Paying for groceries (and handing over the receipts to mom for her cash back apps ) can save parents hundreds each month. Living at home for a while can be a win-win.

3. Stay close with parents

Living with my parents was hard sometimes, but it also kept us closer.

Many kids who leave home only return to visit parents every so often. As a quick example, if you only see your parents five times yearly for two days per visit, you'd spend around 300 days with them over 30 years. Not much, over the course of a lifetime.

Living with parents for a bit helped me reconnect after college. Since moving out, I've set up weekly dinners with my mom's side, and I see my dad weekly. If I'd moved out right away, I don't think I'd be living as close to family (or seeing them nearly as often).

Maybe I'm wrong for thinking living with parents might improve a relationship. It sure felt like a burden when I lived with mine. But research reveals the weird truth: according to Pew, 53% of kids who live with parents reported that their relationships have improved. Strange, but true.

Times have changed

A lot has changed since the 20th century. Student debt is growing, housing expenses are growing faster than incomes, and remote work has made it possible to spend more time with family.

Families have good reasons for sticking together. A Pew survey on multigenerational households discovered the most-cited reason for living with multiple generations of family members is financial issues, followed by caregiving.

Living with your parents can benefit everyone -- and for now, it's a trend that's here to stay.

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