May 10, 2018

Zillow: More Hartford millennials living at home

More millennials in Hartford are living with their mom (or both parents) compared to a decade ago, joining more than 12 million people across the country, according to a new Zillow analysis of U.S. Census data.

In Hartford, 24.2 percent of those ages 24 to 36 lived at home in 2016, up from 17.8 percent in 2015, Zillow said. That growth is similar to what's been seen across the country over that time, increasing from 13.5 percent to nearly 25 percent.

In Hartford, 14.5 percent of those living with their mom or both parents were unemployed in 2016. Zillow focused on mom's because Mother's Day is this Sunday.

"As rents outpaced incomes over the past decade, young people turned to their families in large numbers to ease the housing cost crunch," Zillow senior economist Aaron Terrazas said in a statement. "But even as the labor market has improved, the family safety net has yet to unwind. Living with parents may allow young adults to pursue work or a passion that may not be especially lucrative, or save enough money for first and last month's rent or a down payment on a home of their own."

Zillow said its data could have captured a "small slice" of scenarios in which millennials' mothers are living with them.

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Should out-of-state water companies be able to buy Connecticut water utilities?<>
Most Popular on Facebook
Copyright 2017 New England Business Media