Business

Big jump in number of millennials living with parents reported

Record number of people live in multigenerational households
Nearly one-quarter of millennials live with parents or grandparents
More millennials live in multigenerational households than people 85 and older

More Americans than ever live in multigenerational households, and the number of millennials who live with their parents is rising sharply, according to a study released Thursday.

A record 57 million Americans, or 18.1% of the population, lived in multigenerational arrangements in 2012, according to the Pew Research Center. That's more than double the 28 million people who lived in such households in 1980, the center said.

A multigenerational family is defined as one with two or more generations of adults living together.

The sluggish job market and other factors have propelled the rise in millennials living in their childhood bedrooms.

About 23.6% of people age 25 to 34 live with their parents, grandparents or both, according to Pew. That’s up from 18.7% in 2007, just prior to the global financial crisis, and from 11% in 1980.

For the first time, a larger share of young people live in multigenerational arrangements than of Americans 85 and older.

Historically, large numbers of the elderly live with and are cared for by their own children. The share of people in the older age group living in multigenerational households rose between 2000 and 2012 to 22.7%, but the percentage of millennials living with their parents jumped even more.

The number of multigenerational families soared during the recession. It has continued to rise since then, although at a slower pace.

Follow Walter Hamilton on Twitter @LATwalter.

Copyright © 2014, Los Angeles Times
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