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Florida continues to be one of the states bucking the trend when it comes to young adults moving out of their parental homes, according to a National Association of Home Builders study of 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS).

   NAHB’s assessment concluded that the share of young adults ages 25-34 living with parents or parents-in-law declined to 19.1%. However, the study indicates that Florida is one of 10 states where the percentage remains above 20%. NAHB cites affordability as one of the primary factors, and notes that the cost to rent or own a home in coastal states

   “The correlation analysis confirms that states with higher shares of owners and renters living in unaffordable homes (i.e., paying 30 percent or more of income on housing) register higher shares of young adults living with parents.”

   NAHB also believes the fact that multigenerational living is more common among minority ethnic households could also factor into higher numbers of parents and adult children living together in coastal states. While it remains

   More recent survey numbers indicate that the 2022 trend of adults living with parents may have reversed. A survey conducted in the summer of 2023 for Harris Poll for Bloomberg revealed roughly 45% of people ages 18 to 29 are living at home with their families — the highest figure since the 1940s. More than 60% of Gen-Zer’s and millennials reported moving back home from 2021-2023, according to the poll, often because of financial challenges.

   Last month, a Pew Research Poll indicated that among those ages 18 to 24, 57% are living in a parent’s home, compared with 53% in 1993.

   The variance in the results clearly come from the difference in age range. NAHB examined 24-54, Harris studied 18-29 and Pew looked at 18 to 24.

   It’s Pew, however, that may have the most important survey data for builders looking to determine if they should invest more in multifamily homes. Most parents told Pew researchers that living with their young adult child has had a positive impact on their relationship: 45% say the impact has been very positive, and 29% say it’s been somewhat positive.

   Conversely, most young adults who live with a parent (64%) say the arrangement has had a positive impact on their personal financial situation. Some 55% say the impact on their relationship with their parents has been positive.

   If parents are no longer whining about having their kids in the house, and kids no longer feel guilty about still living with mom and dad, the desire and need for multigenerational homes may grow as young adults seek accommodations with separate entrances, baths and living areas.    Some state leaders also see accessory dwelling units – mother-in-law suites – as a solution to Florida’s affordable housing leaders for both young adults and older residents looking to supplement rising property insurance costs.

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