SAN ANTONIO – If you’re an adult and you still live with your parents, you’re not alone.
According to a study by MagnifyMoney, it’s actually more common than you may think, especially in the Alamo City.
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San Antonio was named third among the top U.S. cities with adults living with their parents, whether it’s due to the economic downturn, high rent costs or a number of other factors.
A total of 24.7% of non-students, between the ages of 25 and 40, are living with their parents in San Antonio, according to the study. This number includes both married and single people.
The study also revealed that adult men were more likely to live with their parents than adult women, particularly in New Orleans and San Antonio.
And San Antonio had the highest percentage (28%) of people who lived with their parents who also had children living in the home.
Riverside, California topped the list for the second year in a row and is the U.S. city with the most adults living with their parents, according to the study. A total of 29.4% of adults are still living with their parents in that area, which is an increase from 28.1% the year before.
To clarify, the study did not differentiate whether these adults lived in their parents’ household or whether the parents lived with them -- just that they were in the same home.
While the study used 2018 data to determine where adults were living with their parents in the U.S.; with the ongoing coronavirus pandemic, MagnifyMoney predicts there will be an uptick in the number of adults living with their parents in the months ahead.
“The coronavirus pandemic has triggered high levels of unemployment, and young adults are just one of the many groups of people that have been impacted,” said Sarah Berger, MagnifyMoney’s millennial finance columnist, in a press release. “For those who have lost their source of income during this time, moving back in with their parents can be an easy way to save money on housing costs.”
To read the full study, click here.
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